Page 11 - Nuvama | IC Report 2023

INDIA: THE 5D ADVANTAGE
INDIA: THE 5D AD V ANT A GE

➦ De-globalisation is not a reversal of global integration, but a
retreat from radical internationalism; hyper-globalisation has
run up against Rodrik’s political trilemma of world economy—
global order is churning

➦ Thirty years ago, Communism fell and a new world order
took shape, and Japanese economic miracle unraveled too;
the world was looking for a country to fill the void, and China was
ready for the moment

➦ History’s dialectic may be advancing to a new epoch—if economic
efficiency, cheap energy and just-in-time manufacturing were
the tenets of the fading epoch, diversification, dependability,
friend-shoring and green energy are the slogans of this
new kind of globalisation

➦ This may be India’s moment; China is left enervated by an ageing
population and breakneck debt accumulation, and the world
may be looking towards India

➦ Three distinct areas of opportunity stand out for India: global
manufacturing, new energy and defence security; India is ready
to take them on

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