Wednesday April 24, 2024

Racing ahead

By News Desk
February 27, 2024

It is fascinating that a single Indian conglomerate, the Tata Group, boasts a net worth of around $365 billion, surpassing Pakistan’s estimated total GDP of $341 billion. From 1991 to 20218, we witnessed a remarkable shift in the Indian economy.

Racing ahead

By 2018, India’s GDP had surged to around $2.7 trillion, dwarfing Pakistan’s then $356.13 billion. Today, the contrast is even starker. This discrepancy highlights the divergent paths taken by India and Pakistan in their policy approaches towards national prosperity. The liberalization of the Indian economy in 1991 opened the doors to foreign investment and trade, fostering a dynamic environment. Investments in key sectors like information technology (IT) and manufacturing catapulted India onto the global stage as a tech and manufacturing powerhouse. Conversely, Pakistan, grappling with political turmoil and inconsistent economic policies, faced challenges in attracting sustained investment and achieving similar growth. These divergent paths underscore the importance of stable economic policies and strategic planning in fostering sustainable prosperity.

Touseef Ahmed