75 years of India’s Independence

India became independent on 15th Aug 1947. The journey from a colonised country to a secular, sovereign, democratic republic has inspired many countries. Let’s take a look at India after 75 years of its independence.

Republic Day: On 26th Nov 1949, the Constituent Assembly of India adopted the Constitution of India. On 26th Jan 1950, the Constitution of India became effective. The Indian Constitution is a living document which has evolved over time.

First Election: The first general Lok Sabha (Parliament of India) elections were held between Oct 1951 and Feb 1952. Jawaharlal Nehru became the first democratically elected Prime Minister of India. India has seen 17 Lok Sabha elections, with a voter base of around 912 million.

The Indian economy has expanded significantly from its original agriculture base. Major industries include Iron & Steel, Textiles, Jute, Sugar, Cement, Paper, Petrochemical, Automobile, Information Technology (IT), and Banking & Insurance.

Wars and Conflicts: The Indian Military has fought three wars against Pakistan and one against the People's Republic of China. India - Pakistan War of 1965; Bangladesh Liberation War of 1971 1999 Kargil War; and the India - China War of 1962.

Hurdles: India has faced many political, social, and economic changes since 1947 along with political extremism of left and right and regionalism. But it has emerged as a united secular country.

Largest Democracy: India is the world’s largest democracy with a population of over 1.3 billion . It is the world’s 6th largest economy. India has come a long way from the 'Hindu rate of growth' (only 3.5% annually before the 1991 economic reforms) to sustained growth of +8%.

The economic reforms of 1991 led to increased competition, more customer choice, higher investment, growth of private players and increased efficiency.

Home-grown startups: India has the 3rd largest startup ecosystem in the world, with around 73k startups in 2022. There’s an increasing number of unicorns ($1bn companies) and a steady rise in venture capital inflow.

Final Note: Freedom is crucial for growth. Given India’s independence and growing prosperity, it’s fair to say the sacrifices of Indian freedom fighters were worth it. They would be pleased, even surprised, at how far India has come in 75 years.