Sixty years and and still going strong! That's India... I can proudly proclaim. From the post-independence licence raj regime to liberalization of the economy in 1991, we have indeed tread a path of progress like no other country has.

It has been a learning experience...we faltered on many occasions, but the Great Indian Spirit marched on with renewed vigour. The Indian economy, after 60 years of Independence, has reached a position from where it can spread its wings and fly unfettered towards the objectives which would bring it at par with other developed nations. Despite a series of interest rate hikes to head off rising inflation, economic growth in India has remained robust. In the current financial year, the economy is expected to expand by a frenetic 9.4% -- the second highest in the world after China.

A country once known for poverty, malnutrition and stagnation today boasts of a new set of icons — its software industry and manufacturing and export-import sectors to name some. A recent report by Goldman Sachs says that by 2050 the US economy will fall to third place in the world pecking order, eclipsed first by China and then by India.

But we should not forget that there are numerous hurdles that can check India's economic growth. We need to critically examine the areas where we are lagging behind and work on them.

Independence is not about celebrating a day in the year. It's about being self-sufficient, it's about sticking your neck out and taking calculated risks, it's about learning from our past mistakes, and above all it's about the never-say-die Indian spirit. So on this special day of the year, let's take a solemn pledge to keep this spirit alive and kicking! Happy Independence Day!

Mr. Bikky Khosla

(Tradeindia Expert)

Tradeindia.com

CEO, Tradeindia.com
New Delhi, India