Alchemy 24
ALCHEMY 2023
September 15, 2023
If India was to be described in one word, it would be ‘pliant’. Over the years, since 1947, India has seen exponential changes and growth in its economy and industries and has been able to adapt to these changes very quickly. This agility has not only provided an extensive ground for innovation and development but also allowed changes in regulations and norms to adjust better to the generations that pass by. This ascending development in various sectors of the country only continues to grow with time.
The brain drain caused by digital imperialism has led us to evaluate if the sectors contributing the highest to India’s GDP are doing anything more apart from profitability. We have established global dominance in the IT services sector, but we, as a nation, haven’t been able to come out with ideas or products that are exclusively “Made in India”. We still rely on other countries to ‘start a trend’ before we make some modifications to them and produce our own. This implies that we need a wide introspection about how the purchasing power of people has changed and how big those segments of the population that are still struggling to sustain basic necessities. These efforts require some efficient and extensive ground-level research, in order to come up with more and different solutions.With the hope of further enhancement in the field of research to aid the service industry, it would add more value for the people of the country. In our main theme – “Indian Economy: Are We On a Quantum Leap?”, we wish to question whether India really is moving forward toward a quantum leap in its economic capacity. And if not, how is it that we can contribute to it?
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