Aspirant's Corner

India's Journey to Become the Pharmacy of the World       With a history which dates back to the ancient practices of Ayurveda, India has cemented its position as a dependable country when it comes to health crisis. India's pharmaceutical industry is witnessing steep growth with lots of innovation and employment generation.       India is promoting a positive Image of the country  world-wide. The pharma industry has brought path-breaking innovations and rapidly improved its global potential for distributing time-critical drugs to every corner of the world. For instance, under Vaccine Maitri initiative and Neighbourhood First Policy, India has supplied more than 150 nations with medicines and vaccines. Ex: Hydroxychloroquine (HCQ) to USA.  However there are some issues associated with this sector which requires attention:- Forces that Contribute to India's Pharmaceutical Growth      India's transformation into the Pharmacy of the World' is a result of several pivotal

  Internationalisation of Indian Rupee: Why Does it Matter and the Initiatives Taken for it Fuelled by economic reforms, India's economic relations with other countries have undergone a remarkable transformation, in terms of trade and investments. Simultaneously, the global financial landscape has been evolving, moving away from a dominant USD. These changes, coupled with recent geopolitical shifts, lay the groundwork for the ascent of alternative currencies, especially the Indian Rupee (INR), onto the international stage. What is Internationalisation of Currency?  Currency internationalization is when a currency is used extensively beyond its home country's borders. This means it's not just used for transactions with the issuing country, but also for trade and other financial activities between other countries.  Examples include the US dollar and the euro, which are used for international settlements and held as reserves by many countries.  It's a complex journ

  Universal Basic Income: Definition. Why it is a good idea? What are the associated challenges and way forward In order to counter the increasing economic disparities and ensure sustainable future for all, the concept of Universal Basic Income was introduced, which is seen as an effective option as Universal basic income promises unconditional guaranteed cash transfer to all it’s beneficiaries.  What is Universal Basic Income ? Universal Basic Income (UBI) is a social welfare concept in which all citizens or residents of a country receive a regular, unconditional sum of money from the government, regardless of any other income they might have. UBI is distributed at regular intervals, such as monthly or annually, ensuring a consistent income stream for individuals. The primary goals of UBI include poverty alleviation, reduction of income inequality, and providing individuals with financial security. Proponents argue that it can create a safety net for unpredictable economic condi

  Secondary Agriculture: Its Contribution to Country's Growth Secondary agriculture holds significant importance in India as it represents the crucial phase of value addition and processing in the agricultural value chain. This stage not only enhances the economic viability of the agricultural sector by providing additional income sources but also plays a pivotal role in rural development. The growth of agro-processing industries, gives India an opportunity to capitalize on the value inherent in its agricultural output, leading to increased employment opportunities and the development of ancillary services.  What is Secondary Agriculture?   Secondary agriculture refers to the value addition and processing activities that occur after the primary cultivation of crops. In this stage, raw agricultural products undergo various processes to transform into finished goods, creating a diverse range of products such as processed foods, beverages, textiles, biofuels, and more.    By add

  EVs in India: Advantages, Government Schemes, Associated Challenges and Solutions  Faced with growing concerns over air pollution, dependence on fossil fuels, and global climate change the world is undergoing a strategic shift towards sustainable and environmentally friendly transportation. Similarly, the Indian government has also embarked on an ambitious journey to promote the adoption of electric vehicles due to its numerous benefits.  Advantages of Electric Vehicles in India  1) Environment Friendly:  Unlike traditional vehicles with internal combustion engines, electric vehicles produce zero tailpipe emissions, thus mitigating air pollution and supporting efforts to combat climate change. Typically, EVs also have a lower overall carbon footprint, especially when charged with electricity generated from renewable sources. This reduces the contribution to global greenhouse gas emissions.  2) Generate Employment Opportunities:  The growth of the electric vehicle industry gener

  Impact of Globalisation on Youth in India  The idea of “ Vasudaiva Kutumbakam ", the world is one family, is also reflected in the idea of ‘globalisation’, as countries interact, integrate and are interdependent on one another for mutual benefit. This interaction among multiple countries heavily impact the youth of India as it promises emmense possibilities, but also comes at a price.  Various Socio-Economic Impact of Globalisation on Youth in India  Positive Impacts 1.  Aquire knowledge about global issues:  With globalisation, youth are more aware about global ideologies, philosophies, trends and global affairs, and hold diverse perspective about things. 2.  Employment opportunities:  With global partnerships, joint training programs, study abroad programs, etc, more opportunities are available for youth to learn skills from international organisations and procure employment opportunities in both India and abroad. 3.  Urbanization and modernization:  Setting up of MNCs and int

  Negative Impacts of Urbanization in India  With the undergoing economic development, modernization and industrialization in India, there is a shift of population from rural areas to urban cities, leading to urbanization. Urbanization promises many opportunities for human development and progress with wealth and social mobility, good infrastructures, technological advancements, etc.  However due to poor urban planning and unequal distribution of resources, there are some associated issues which needs to be addressed for sustainable and holistic development of urban areas.  Negative Impacts 1. Slum Formation: Income inequality, lack of affordable housing facilities and lack of enough land space to accommodate urban population, are some of the reasons leading to slum formation which further leads to various socio economic and health problems.  2. Unequal Distribution of Resources : The demand and supply mismatch of resources available in an urban setting leads to increase in prices

Challenges Faced By India in her Transition to Renewable Sources of Energy    Enthusiasm regarding India's transition to renewable sources of energy is well placed as it offers numerous opportunities and will play a vital role in fulfilling India's target of meeting 50% of electricity requirements from non fossil fuel sources by 2030. However, there are some associated challenges which need to be addressed.  Challenges that can Impede Progress  • Economic Factors : The huge economic burden on government due to the expensive installation process, operation cost, high transmission and distribution loss, and adoption of expensive technologies and safe waste disposal measures, will pose a challenge which needs to be addressed by attracting private investments through green bond, CSR contributions, etc and through international collaborations like One Sun One World One Grid.  • Political Factors : Many challenges can also arise from issues regarding land acquisition, rehabilitation

  Human Development Failed to Keep Pace with Economic Development in India Owing to the economic progress made in key areas like IT, agriculture, etc, India is ranked 5th in the world as per it's GDP in 2023. However, India's ranking in Human Development Index in 132nd position in 2021-2022 shows that human development has failed to keep pace with the economic development of the country, which can be due to various reasons. Reasons for Slow Human Development in India 1. Social Discrimination: Discrimination based on caste, class, ethnicity, gender or religion stuns the growth and development of the marginalized. 2. Outdated Curriculum: The curriculum followed in educational institutions and the current demand of industries are not in sync with each other which forces people to opt for low paying jobs which further hampers their standard of living and their development. 3. Expensive Services: Basic amenities like electricity, clean water, education institutions, internet s