Resilient India: Strategies for New Way Forward

Abstract

Development is considered a critical competency. The coronavirus pandemic has exacerbated the geopolitical, geo-economic, and strategic fault lines. While COVID-19 will affect countries in different ways, with varying degrees of capacity to deal with its consequences. Developed economies can afford to prioritize the survival of the pre-pandemic living standards. Emerging economies like India should view the recovery as a necessary opportunity to address long-standing problems in the economy. To address the deep-trenched problems in the economy, India has taken steps to strengthen legislation, build resilience, revive investments, improve state capital ties, ease productivity limits, increase the transparency of procedures, and handle grievance effectively. Priority should be given to developing an appropriate medium-term strategy through redress mechanisms’ to ensure support for and acceptance of digital transformation to overcome short medium and long-term challenges.