India@75: Technology engines enrich our Azaadi

As India commemorates 75 years of Independence with the Azaadi ka Amrit Mahotsav celebrations, technology undoubtedly lends an exciting dimension as we ruminate on the next 25 years in the run-up to 2047.

While the country won its political freedom in 1947, citizens only started enjoying economic Azaadi en masse post the liberalization reforms in 1991. After Independence, PM Nehru imposed the License Raj with quotas and pricing controls, effectively suppressing private capital. As a result, India grew at a mere 3.5% CAGR from 1950 to 1980, less than the world’s CAGR of 4.5% and considerably less than Asia at 6.5%.