Is the 5 Trillion Dollar Economy in India Just Marketing Hype?

Ha ha! But that is not important! What is important is what would happen to the workers and farmers if the 5 Trillion USD economy is achieved in India!

This is beautiful optics and nothing else. At best, it describes the power of a “Dream”, “Faith” and “Hope”. On plain facts, India is a 2.3 Trillion (2.3 Trillion USD) economy, well on its way to the 5 Trillion Dollar mark. To give a perspective, since 1991, the economy has grown from 266 Billion USD to 2.3 Trillion currently. So, essentially, India has managed to double its GDP a few times in this 30 year period. Therefore, 5 Trillion is not really a pipe dream; it is very much possible. All the government had to do is manage 9% growth year on year.

Now, this is where the problem lies. The growth rate is well below 9% and the scary part is that the growth rate is getting lower over time. And still, the government claims “All is well” and this is India’s best time. In this backdrop, the 5 Trillion target seems to be a fantasy. The current government is a master of picking marketing cues and making them larger than life. And, as usual with these guys, the marketing hype is more than the reality. Very much like the AXE deodorant ads.

India achieved 1 Trillion Dollars somewhere around 2006–07. This milestone could have been big, and subsequently, 2 Trillion, and so on. However, there was no significant economic milestone marketing. Perhaps it was because there were more than enough economic activities happening that spoke for themselves. No government felt the need to mark and market these milestones.

As for this government, the economy is in shambles. They feel they just have to spin a yarn, paint a picture, and sell it hard. If you notice, they are still winning elections, and these marketing gimmicks are helping. It is easier to manage and market events rather than manage the country. If managing events is enough to win elections, there is no need to know how many zeros make a trillion. A zero has no value – and the hero will sell zeros bigger and better looking ones. After all, they are using your watch to tell you the time. Dream on...

Key Takeaways

India's economy has reportedly grown from 266 Billion USD in 1991 to 2.3 Trillion currently, a massive achievement. The current government's marketing strategies are more show than substance, much like AXE deodorant ads. The government is using economic milestones to win elections, rather than improving the overall economic condition.

Conclusion

The 5 trillion Dollar economy goal is a marketing construct rather than a genuine reflection of India's economic health. While the goal is reachable, the current growth trajectory and policies raise significant concerns. As voters, it is crucial to understand the gap between what is being said and what is being done, and to hold the government accountable for real economic progress.