EU tastes UPI

The 16th-century economy experienced the most remarkable changes perhaps in the field of Global banking and finance. Through letters of exchange drawn on the various bourses that were growing throughout Europe, bankers were able to mobilize capital in fabulous amounts. This way, the otherwise resource-starving economies of Europe were able to setup global empires due to innovations and advancements in banking. This led to exponential growth of western European economies even in modern times after WW II. Similar bright fate was expected even in the ‘now prevalent’ digital era. To be fair, these economies have been doing well but India seems to have leapfrogged in adopting digital economy, especially under the leadership of Indian Prime Minister Narendra Modi and his drive for Digital India.

Recent data has revealed that in May 2022, UPI recorded transactions worth Rs. Rs 10.4 lakh cr. The growth has been so tremendous that within just the first five months of 2022, the platform has crossed almost 80% of transaction volume of 2021. And as UPI makes entry in to the European Union Market, it will further log phenomenal growth. EU’s acceptance to UPI as a legitimate payments mode has paved a way for India to explore similar opportunities in many other nations across the globe. The expansion is inevitable because of the agility, reliability and instant ease that UPI can provide. Apart from EU, UPI Global is already live in Nepal, UAE, Singapore and Bhutan, while the NPCI International is also in talks to extend UPI services in the United States and Western Asia.

Another fact worth taking note of is that before the indigenously-developed UPI payments method, the country had high dependence on foreign payments platforms. Such a reliance on foreign platforms always resulted in a significant amount of money going out of the country. UPI has reversed this unprecedentedly. The success of UPI lies in its flexibility as it offers users to pay through easy QR codes and quick PINs, while the world still struggles and stays on traditional methods, such as card systems, which are still dominant in developed states across the globe. Cheque payments are still very common in various parts of the European countries. UPI is simple and doesn’t require users to carry anything extra other than their smartphones. RuPay and UPI, together are beating cash and card-based transactions in the country with whopping margins. The continuation of this trend may lead to them taking over the global competitors like American express, VISA and Mastercard, and other Global Giants that have ruled the Indian payment systems for decades. UPI is becoming popular in other foreign countries at a right time, as absence of a similar Open, Simple & Powerful payments interface may leverage India’s position in the foreign markets.

In order take digital payment to every nook and corner of the country, various steps have been taken by MeitY. Incentive schemes like the promotion of RuPay Debit cards and low-value BHIM-UPI transactions (P2M) facilitate Banks in building a robust digital payment ecosystem. Additionally, Incentive/cashback schemes were launched by MeitY for changing the customer/merchant behavior for faster adoption of digital payments in India. Some of them were BHIM Cashback schemes for Individuals & Merchants, BHIM Aadhaar Merchant Incentive Scheme, BHIM-UPI Merchant Onboarding Scheme Merchant Discount Rate (MDR), etc. Another step towards improving digital infrastructure was the scheme titled “Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA)” to usher in digital literacy in rural India. Concept of QR scanning for making digital payments has also contributed in increasing the number of digital payments because of the added ease and flexibility.

This time for Green Hydrogen

The story of the Gondwana continental drift is worth a read. Gondwana was an ancient supercontinent that broke up about 180 million years ago. The continent eventually split into landmasses we recognize today: Africa, South America, Australia, Antarctica, the Arabian Peninsula and the Indian subcontinent. Yes, India, once was a part of this massive landmass and detached itself to join with the Asian plate. This grand collision gave rise to the formation of the Great Himalayas, silicates of which consumed massive amounts of CO2 from the earth’s atmosphere, thus, making it cooler. The Himalayas have forever played a contributing role in finding a balance out of the nature and also in maintaining a rich, stable climate for the Indian subcontinent. However, it is rather ironic how India, that once played such a key role in maintaining life on earth, today possesses an air filled with green house gases.

The urgency to take aggressive action to fight climate change has never been so greater in human history. Warming temperatures are causing unhealthy changes in weather patterns and disrupting the usual balance of nature, besides posing serious risks to all forms of life on the earth. Owing to abrupt disruptions in nature in recent years, water is fast becoming scarcer in more and more regions, droughts are stirring destructive dust storms across continents and expanding deserts are reducing land for growing food, costing billions of dollars to the humanity. In such a serious situation, Green Hydrogen appears to be an effective answer to all this.

A new report by NITI Aayog highlights that green hydrogen can substantially spur industrial decarbonisation and economic growth for India in the coming decades. Harnessing Green Hydrogen for deep decarbonisation provides a pathway to accelerate the emergence of a green hydrogen economy, which is critical for India to achieve its net-zero ambitions by 2070, set by PM Narendra Modi in the COP26 conference in Glasgow.

The National Hydrogen Mission came out of this resolve only, which aims to make India a hub for the production and export of green hydrogen. This also aims to make India energy independent before the country completes 100 years of its independence in 2047. Currently, the country spends over 160 billion dollar of foreign exchange every year for energy imports, which are likely to double in the next 15 years if remedial actions are not taken.

However, the need to achieve size and scale to push down costs of green hydrogen, is equally important. Given the right policies of the present dispensation at the Centre, India can emerge as the least cost producer and bring down the price of green hydrogen to one dollar per kg by 2030. While hydrogen can be produced from multiple sources, India’s distinct advantage in low-cost renewable electricity also lies in the fact that green hydrogen is set to emerge as the most cost-effective form as also suggested by the report. The hydrogen demand in India could grow more than fourfold by 2050, representing almost 10% of global demand. Given that the majority of this demand could be met with green hydrogen in the long term, the cumulative value of the green hydrogen market in India could reach US 8 billion dollar by 2030.

The encouraging aspect with India is that it has unique advantages of its unique ecosystem and the stage now appears to be set for the country to become a global champion in green hydrogen. In India, proactive collaboration among innovators, entrepreneurs and government agencies, green hydrogen has the potential to drastically reduce CO2 emissions, fight climate change and put the country on a path towards net-zero energy imports. The emerging situations are sure to help India export high-value green products also. In this way, India may become one of the first major economies to industrialise without carbonising. Green hydrogen produced by renewable energy through electrolysis of water, will be crucial for achieving decarbonisation of harder-to-abate sectors such as fertilisers, refining, methanol, maritime shipping, iron & steel and transport as green hydrogen can potentially provide a replacement of fossil fuels in industrial processes.

Prospects of Platform Economy

Platform economy is fast picking up in India employing lakhs of people and promises to give livelihood to many more in the years to come, thereby changing the face of the traditional employer-employee arrangement. Going by what Niti Aayog says in its report titled ‘India’s Booming Gig and Platform Economy,’- the gig economy gives employment to more than 77 lakh people in India, which can broadly be classified into platform and non-platform based workers. Gig economy being a larger concept, platform comes within its ambit, however it becomes much more substantial with its immense prospects being in the process. With many Digital India initiatives, low cost internet, increasing penetration of smartphones with good specifications and associated technologies, India is fast becoming the new frontier of the platform economy. The world’s youngest population equipped with the required technical knowhow and language skills and the fast rising urbanisation add to the momentum of this change.

Delving deeper into the platform economy, the NITI Aayog reports provides insights into the possibilities of the sector, as well as a road map for further research and analysis. The report estimates that 77 lakh workers were engaged in the gig economy in 2020-21 with construction, manufacturing, retail, transportation and logistics sectors having the highest potential to produce ‘gigable’ jobs in the future for India. Currently more than 75% of the companies have less than 10% of its workforce in gig mode, but this proportion is bound to rise fast with a large number of companies including MNCs fast turning to flexible hiring options.

The scope of the growth of the platform economy is huge as large number of consumers are moving towards digital platforms/apps for their day to day needs and self-employed individuals engaged in the business of selling regional, rural and other things like cuisine, street food, goods etc. also want to be parts of the larger process, so that they can sell their produce to wider markets in towns and cities. However as suggested by the Niti Aayog, this whole process needs some arrangement on the lines of ‘Startup India Initiative’ to accelerate creation of digital platforms through hand holding, funding support, incentives and skill development with accelerating access to finance through products designed for platform workers and linking street food vendors with gig platforms. Platform economy does need unsecured loans especially for the first-time borrowers participating in the process. FinTech and platform businesses may be leveraged to provide cash flow-based loans to such entrepreneurs as against collateral-based loans, thereby catering to the needs of those new to credit. Platform-led models of skilling and job creation also need to be promoted for this sector.

The immense prospects of the platform economy can be gauged from the facts put forward by the Niti Aayog. The gig workforce is expected to expand to 2.35 crore workers by 2029-30. At present, about 47% of the gig work is in medium-skilled jobs, about 22% in high skilled and about 31% in low-skilled jobs. Trends show the concentration of workers in medium skills is gradually declining and that of the low skilled and high skilled is increasing. It may be expected that while the domination of medium skills would continue till 2030, gig work with other skills will emerge.

Sweet Sweet Revolution

The country has for so long been tagged a status of ‘Krishi Pradhan’, and with the rise of New India, agriculture and allied activities as a sector too has strengthened which possesses scope of creating more jobs, better produce and MSPs, modern agri solutions, agro-startups growth and mega welfare schemes to support farmers and their produce. The efforts have resulted in pursual of many novel agricultural practices & methods across the country like organic farming, horticulture, poultry, dry farming etc. and have also led to record stats of exports and production. One such booming type of agricultural occupation is Apiculture, which is showing huge potential and global reach.

It is low-cost, includes the perfect ingredients for maintaining the ecological balance and has proved to be a factor of fortune for Indian farmers – It is ‘Sweet Revolution,’ a honeyed shot in the arm of Atmanirbhar Bharat. Government has been ambitiously promoting apiculture or ‘beekeeping’ for quite some time now and putting in great efforts to accelerate the production of quality honey in the country. Scaling-up of beekeeping is directly proportional to doubling farmers’ income, generating employment, ensuring food security, conservation of bees, and increase in crop productivity. For this, a dedicated amount of Rs. 500 crore has been allocated for the National Beekeeping & Honey Mission for three years (2020-21 to 2022-23).

India has made its reputation as one of the leading honey exporting countries in the World. Organic honey produced in India receives global attraction as the sweet success of India reaches major markets including Germany, USA, UK, Japan, France, Italy, Spain etc. India exported about 60,000 MT of natural honey worth Rs Rs. 716 crore (US $ 96.77 million) during 2020-21 with the United States, Saudi Arabia, Canada, Bangladesh and Qatar being the major export destinations. Currently, more than 50% of the honey produced is being exported now allowing India to win 8th and 9th rank in the world in honey production and Export, respectively. India today has about 30 lakh bee colonies which produce 94.5 thousand MT of Honey. It provides employment to about 3 lakh rural people and has more of untapped potential of creating more jobs, given the efforts and endorsement continue.

Beekeeping has been one of the oldest activities in India. This makes it one of the leading honey markets in the world which have created intense competition in terms of innovation and cost. The honey market in India was worth Rs. 15,579 Million in 2018, registering a Compound Annual Growth Rate (CAGR) of 10.9% during 2012-2018. Additionally, the demand for honey in India is augmenting on account of the growing consumer preference for natural and healthy alternatives of artificial sweeteners, rising awareness regarding the benefits of honey and increasing popularity of various honey flavors.

The northeast region with its abundant floral resources can be deemed an ideal geographic location for the promotion of the apiculture market. As per a piece published by Niti Ayog, The apiculture market is estimated to register a CAGR of 4.3% during the period 2020–25, with Asia–Pacific as the dominant producer. As per a report by IMARC, the Indian apiculture market size is expected to reach a value of Rs 33,128 million by 2024, expanding at a CAGR of nearly 12% by 2024.With such possibility of rising demand abroad, Indian states, especially the north-eastern regions, can become significant players to benefit from the furthering of the Sweet Revolution for income & employment generation for farm and non-farm households.

Life Under Water for Planet Preservation and Sustainable Growth

Covering around 70% of the Earth’s surface, Ocean is the planet’s largest biosphere and is home to around 80% of all kinds of lives. It generates 50% of the oxygen, absorbs 25% of all carbon dioxide emissions and captures 90% of the additional heat generated from different sources. Clearly, it is a vital buffer against the evil impacts of climate change. The Ocean produces food, jobs, minerals and energy resources for humanity to survive and thrive.

Climate Change has adversely affected the temperatures across the globe with intense heatwaves gradually changing weather patterns and disrupting the fine balance of beautiful nature. Warming temperatures pose a number of risks to human and all other forms of life on the earth in the form of frequent droughts, heat waves, storms, rising sea levels, melting glaciers and warming oceans.

As the world looks to find solutions to this rising problem, The UN Ocean Conference promises to be an answer. The Conference, being held from June 27 to July 1, 2022, recognises the fact that oceans are critical to combat climate change, boost economic growth and reduce biodiversity loss across the globe. It brings up a unique opportunity to boost collective efforts and find science-based solutions to effectively address the challenges of Climate Change.

Human acts of thoughtless exploitation pose unprecedented threats to the oceans, therefore the UN has set targets of ‘Sustainable Development Goal 14: Life Below Water’ that emphasize a lot on preserving and protecting it.

To preserve lives on land & below the water, the Ocean conference addresses some of the most defining issues of our time like climate change, food insecurity, diseases, pandemics, diminishing biodiversity, economic inequality, conflicts and strife. The conference also stresses the need for an integrated, interdisciplinary and cross-sectoral approach, as well as enhanced cooperation, coordination and policy coherence at all levels. It emphasizes the critical importance of effective partnerships enabling collective action and reaffirms the commitment to the implementation of Goal 14 with the full participation of all relevant stakeholders.

Solutions for a sustainably managed ocean involve green technology and innovative uses of marine resources, which also include addressing the threats to health, ecology, economy and governance of the ocean such as acidification, marine litter and pollution, illegal, unreported and unregulated fishing, and the loss of habitats and biodiversity. Hence, the conference calls upon all stakeholders to conserve and sustainably use the oceans, seas and marine resources for sustainable development.

Co-hosted by Kenya and Portugal, the Ocean conference comes at a critical time when the world seeks to address many of the deep-rooted problems of our societies laid bare by the COVID-19 pandemic, which requires major structural transformations and common shared solutions. More than 130 countries are participating in the UN Ocean Conference in Lisbon from the 27th of June to the 1st of July 2022. Heads of Government with leaders from the private sector, the scientific community and other partners are trying to chart out a new pathway that would ensure the protection and conservation of the ocean and its resources. Prime Minister Narendra Modi has also taken a lead in these global endeavours.

The strategic, economic, geopolitical and resource-rich significance of the Indian Ocean occupies a center-stage in a century that has seen trade, multilateralism and security outweighing all other areas of concern. The resource-filled oceanic depths, bare and untapped, are like a candy to the world, that has exhausted almost all the land and atmosperic resources and is left with no fruits hanging low enough. Indian ocean, particularly, is often at the center of discussion across the globe, as it is here that some of the most important trade routes of the 21st century make their way into. And over the past few years, India has rightly been able to guard its part of the high waters with responsible patrolling, new maritime and strategic policies, rollout of ambitious missions to explore sea resources, strengthening of maritime security setup and forces at its coasts and ports, etc., all garnished with its strong foreign diplomacy, collaborations and dialogue.

India recently launched its ambitious First manned ocean Mission ‘Samudrayan’, for which, a deep-submergence vehicle called Matsya 6000 is being indigenously developed in the country. With the launch of this Unique Ocean Mission, India joins the elite club of nations such as the USA, Russia, Japan, France, and China to have such underwater vehicles for carrying out subsea activities. Not only has this opened a new chapter for India to explore ocean resources for drinking water, clean energy, but it has also marked India as one of the leading crusaders of Blue economy.

Making more Room for Space

Of all the unprecedented decisions that have been taken recently in the country, India’s move to privatise the space sector has proven to be one of the most revolutionary as the number of startups in the sector has increased to more than 100 in 2022 from just 11 in 2019. From launch vehicles to satellites, propulsion engines, remote sensors, navigation & communication etc., Indian space startups are developing space tools and solutions. The move has democratised the access of both public and private space entities to tap the potential of the space sector to the fullest and opened gates to a more collaborative & self-reliant space start-up ecosystem.

India is acting swiftly to fulfil its space ambitions as it also slowly upgrades its position with a space program that marks as one of the most advanced among other spacefaring nations in the Asian Continent. India earmarked Rs 13,700 cr for the Dept. of Space in Budget 2022-23, as ISRO gears up for Gaganyaan — India’s first human spaceflight mission. Besides, India has other future missions including the Chandrayaan-3 programme, the Shukrayaan Venus mission which is expected to get launched in 2024, a twin aeronomy satellite mission that will study the uppermost layer of Earth’s atmosphere, Mission Trishna (in collaboration with French Space Agency CNES) for accurate mapping of land surface temperature, to name a few.

PM Narendra Modi, in the 90th episode of his monthly radio programme ‘Mann Ki Baat’, went to lengths lauding the growth of the Indian space sector and shared interesting strides made by various accomplished space start-ups and organisations. Two start-ups ‘Agnikul’ and ‘Skyroot’ – were also mentioned, which are developing launch vehicles that will take small payloads into space, also bringing down the cost of Space Launching significantly. Other space start-ups that made it to the radio programme included the Hyderabad-based Startup ‘Dhruva Space’, which is working on High technology Solar Panels for Satellite deployers and Satellites; and a Banagalore-based start-up ‘Astrome’, which is making flat antennas which will not only be small, but very cost-efficient too. PM also mentioned about Tanvi Patel, a school student who is working on a very small satellite, which is going to be launched into space in the next few months; and about Tanveer Ahmed of ‘Digantara’, another space startup who is trying to map waste in space.

“In the past few years, many big feats related to the space sector… One of these achievements of the country has been the creation of ‘In-Space’ agency, that is promoting new opportunities in the space sector for the private sector of India. This beginning has especially attracted the youth of our country,” PM Modi said as he elaborated on the role being played by the Indian National Center for Space Promotion and Authorization (IN-SPACe) for promoting, handholding, authorizing and licensing private players to carry out Space Activities. Access to ISRO facilities and expertise has also been extended to private entities to support their space activities. The existing policies in the space domain are also being revised and new policies are being drafted to address policy frameworks for various areas such as SpaceCom, Remote Sensing, Technology Transfer, Navigation, Space Transportation, Space exploration and Space Situational Awareness. In order to address the necessary legal framework, the department of Space is also in the process of enacting a National legislation. The draft Space Activities Bill has completed Public and Legal consultations and will be processed for further approvals for inter-ministerial consultations.The government is even in the process of planning to allow FDI with the view to boost the investment in the space sector by the foreign players.

“Like the IT sector, India’s space sector will rise to new heights…we will soon come up with a new policy for the space sector and a policy for ease of doing business,” PM Modi had said after inaugurating the headquarters of the Indian National Center for Space Promotion and Authorization (IN-SPACe) in Ahmedabad just recently. As India awaits this breaking bit, its space economy, which is valued at around ₹40,000 crore, is sure to grow exponentially.

Demand Destruction – Another way of controlling inflation?

A measure of demand by USA consumers has hit all time low at a time which is seeing very high consumer price inflation, a paradox of sorts, creating a unique situation which can be termed as “Demand Destruction”. Each month University of Michigan publishes USA Consumer Sentiment Index. The consumer confidence measures were devised in the late 1940s which have now developed into an ongoing, nationally representative survey based on telephonic household interviews, and the index is normalized to have a value of 100 in the first quarter of 1966. This index helps to understand how consumers view their own financial situation and the economy, short-term and long-term.

The official release from the university states,”The final June reading confirmed the early-June decline in consumer sentiment, settling 0.2 Index points below the preliminary reading and 14.4% below May for the lowest reading on record. Consumers across income, age, education, geographic region, political affiliation, stockholding and homeownership status all posted large declines. About 79% of consumers expected bad times in the year ahead for business conditions, the highest since 2009. Inflation continued to be of paramount concern to consumers; 47% of consumers blamed inflation for eroding their living standards, just one point shy of the all-time high last reached during the Great Recession……Consumers also expressed the highest level of uncertainty over long-run inflation since 1991, continuing a sharp increase that began in 2021.”

Central Banks across the globe have been raising rates in a very aggressive manner, perhaps most aggressive in this millennium. Soaring Food and Fuel prices over last three month have posed high inflation problem in front of surprised central banks which have been pumping liquidity since Global Financial Crisis. Higher and adamant inflation level might have started due to supply constraints but demand for goods came at unprecedented speed too. Especially in USA where almost half of consumed goods are imported and increase in disposable income of lower income strata on account of covid relief fund distributed fuelled unprecedented demand for available goods. Covid induced social distancing norms meant much of this extra cash in hands could not be spent on services. The sudden surge in demand for goods and inability of producing at home meant windfall gains opportunities for shipping companies though. However painful the situation became due to runaway inflation, supply side ramp up is no where in sight for the biggest economy in the world. A measure of activities in US manufacturing and services, Composite Purchasing Managers Index, fell to lowest level in last 5 months too. With no surge in supply to match the unmet demand consumers are feeling low in confidence about their financial condition as well as robustness of the economy, i.e. needs of goods has to be withdrawn – Demand Destruction is here.

Gun Control in World’s Oldest Democracy

The world still looks at America with a great deal of lustre, as it sees it as a land of opportunities and unhindered openness. However, the rising mass shootings puzzle its fans and critics alike. Rrecent mass shootings in Uvalde, Texas and Buffalo in New York, took more than 30 lives including 19 children. This illustrates the malaise of the masses in the American society. The country, which registers the highest number of mass shootings annually among wealthy nations with the highest gun ownership per capital in the world, draws frequent derision for this.

A welcome move by the US Senate to check this menace of mass shootings has been struck down by its Supreme Court, arguing the Americans have a constitutional right to carry handguns or firearms in public for self-defence. The Senate’s decision and the apex court ruling also bring to the fore the deep divide over firearms in the American society. However, the Senate bill approved in a 65-33 vote, happened to be the first significant gun control initiative in almost three decades. The Supreme Court ruling invited sharp reactions even from US President Joe Biden. President Biden expressed his deep disappointment, saying that the SC ruling contradicts both common sense and the constitution. After Senate, the US Congress also appeared set to approve the modest gun law changes, which no one in several decades could garner courage to amend despite demands from a section of people. The new development may ultimately encourage more people to legally carry guns on the streets, which may further create social and psychological upheavals.

The gun law was enacted in 1913 under the US constitution’s second amendment. According to available data, in 2020, more than 45,000 Americans died at the end of a barrel of a gun. Between, 1968 and 2017, the deaths in gun fire were higher than the number of soldiers killed in all US conflict since the American war for Independence in 1775. Americans make up about 4.4% of the global population but they own 42% of the world’s guns. Adjusted for population, only Yemen has higher rate of mass shootings among countries with more than 10 million people.

There is still a tinge of hope as American states could do something in this direction. President Biden also urged states to go further and enact and enforce commonsense laws to make the people safer from gun violence. But the way this gun law acquires political proportion in the USA, it leaves little chance in near future for such an initiative again. Democrats are nearly unanimous in their support for stricter gun laws, however only around a quarter percentage of Republicans favour this amendment. Other countries from the developed world took timely steps to check this menace of gun culture. For example, Britain instituted a gun control laws just after it had a mass shootings in 1987 and so did Australia after a mass shooting in 1996. But such has not been the case with America. It is not that firearm is a part of American culture or upbringing, but the way it is becoming an epidemic, doesn’t augur well for American brand too.

Growth of Digital Economy in India

Digitalization acquires a critical element in the development of the modern economy, giving birth to an all new term- ‘Digital Economy’ as it promises to add a lot more within a short span of time. Therefore, when Prime Minister Narendra Modi says, – India’s digital economy is going to be one trillion dollar by 2025 and country’s digital economy and the infrastructure sector has a total potential for 2.5 trillion dollar, it startles very few.

Digitalization or the digital transformation of the economy is essentially introduction of information and communication technologies in a sector in order to increase its efficiency, productivity, extents and competitiveness, thereby creating an innovative high-tech digital economy. Introduction of digital technologies in various sectors of the economy, such as medicine, education, housing, community services, agriculture, manufacturing, service sector and others, is fast changing the face of these industries. However, digital transformation must be intentionally inclusive and thoughtfully designed and implemented to ensure that all are well taken care of and no one is left behind.

And in India, permeating all aspects of society and influencing the way we carry out economic activities, digital technologies are playing the role of a great equaliser by distributing the fruits of economic developments to all, thereby bringing sociological changes too. India’s inclusive digital model is narrowing the digital divide among people and bringing benefits of technology to all segments of people, as less affluent states leapfrog to catch up with more affluent ones on dimensions such as internet subscriber growth, density of internet infrastructure and common service centres.

Digital technologies such as data pooling, Artificial intelligence and others are now widely used to track and diagnose issues in agriculture, health, environment, logistics, jobs and skills market, e-governance, performing daily tasks such as navigating traffic, paying a bill, financial transactions and others. Through Digital India Programme, the Government of India is focusing much on creating a strong foundation of digital infrastructure and expanding digital access to all, creating tremendous economic value and empowerment of citizens as new digital applications permeate sector after sector. These efforts have made India the second-fastest digitizing economy amongst 17 leading economies of the world and country’s digital economy may generate productivity and output sufficient to support 55 million to 60 million workers in 2025.

India’s digital vision is based on citizen centric services, where transparency and accountability are ensured as it envisions a kind of digital transformation that allows everyone – whether in rural or urban areas and irrespective of their economic or social status, take ample benefits. However, to stay ahead in the race, we need to bring in changes in our approach to education and training by placing more emphasis on science, technology, engineering, maths, soft skills, resilience, skilling, re-skilling, up-skill of the people in general.

In human development, technology has always played a revolutionary role, changing the features of the labour force, creating a new face, form, pattern and process of works and bringing about wider economic and societal changes. Spurred by the digital revolutions, the current wave of changes appears to be having much more profound impacts over the humanity and its course than others happened in history.

Presidential Tussles, India and Beyond

With the announcement of candidates by both ruling and opposition parties for the presidential election, curtains have finally come down on high-pitched speculation spree on candidacy that has been going on for quite some time. Undoubtedly, the President of India is the most significant position in Indian democratic system. A host of articles – from 52 to 62 of the constitution – provide information about the election process, powers, functions and impeachment process of the President. Being the head of the state, the first citizen of the country and the most important part of the Union Executive along with Vice-President, Prime Minister, Council of Ministers and Attorney-General of India, President of India is also a symbol of solidarity, unity and integrity of the nation. Hence, the election to this top job becomes all the more important for the nation.

In between, owing to us deriving much of the inspiration from the British constitution, a comparison is often drawn between President of India and British Queen. Moreover, they do share several similar rights and powers in their respective nations like both can summon the parliament, however the fact remains that the Constitution of India gives much more power to the President to protect the constitutional democracy of the country. A British Monarch can be questioned by the House of Lords, whereas the President of India is not answerable to any court. When parliament is in session, the British Monarch is restricted to visit foreign lands, while there is no such restriction ever applies to the President of India. British Crown is hereditary, whereas Indian President is elected every five years.

Sometimes, comparisons are also drawn between Indian and American system of governance. However, it is widely regarded that Indian constitution favours pluralism in true sense more than the US system of governance, inspiring even a small group of people to form their political party and participate in the election process, whereas American system majorly favours only two party system and elections are very costly, making it very difficult for a simple individual to go up in the political hierarchy, however in Indian system even a poor can wish for the top job.

This has resulted in making the US model highly bipolar deepening the democratic divide in a very deploring way. The ever-charged tussle between the Republicans and Democrats is restricted not just to the political corridors of the United Nations, not just to the people living in America but traverses beyond the US borders, globally. On the other hand, In India there’s multi-layered, multi-faceted prospects, opportunities and opinions. The systems here share a beautiful blend with the country’s diversity of religion, culture, gender, social background, language etc. “It is the strength of Babasaheb’s Constitution that a gentleman hailing from deprived and exploited class has become the president (Ram Nath Kovind), while the vice-president ( M Venkaiah Naidu) is from a farmer’s family,” PM Modi once said in a rally.

Moreover, India is a sovereign socialist secular democratic republic with a parliamentary form of government which is federal in structure with unitary features. There is a council of ministers with the Prime Minster as its head to advice the President who is the constitutional head of the country. Similarly in states there is a council of ministers with the chief minister as its head, who advices the Governor.