Page 66 - Nuvama | IC Report 2023

India’s 5D Advantage is oozing with opportunities, and shall have hand, FDI liberalisation, PLI, lower taxes and an enhanced ease of doing
far-reaching impact on a myriad aspects of the economy. It would business are preparing a fertile ground for a manufacturing scale-up and,
re-energise the macro trends presently plodding through a slow lane, give on the other, there is a sustained effort towards cementing infrastructure
birth to new business opportunities, engender new behaviours among through the National Infrastructure Pipeline and monetisation of existing
consumers, open new avenues for savers and investors, and empower assets. This synergetic composite is augmented by the global drive
citizens in ways not hitherto seen. towards China plus One and diversification of supply chains. Never before
has the government’s approach been so comprehensive and the external
We aggregate this opportunity into five key themes: the cementing
of manufacturing-infrastructure nexus, a growing footprint of new environment so inviting.
energy, accelerated urbanisation, premiumisation of consumption and a But economic miracles must stand on energy security. Traditional fossil
broadening equity cult among savers. fuels, while still needed, are no more cheap, reliable or sustainable in a
world that is rife with instable geopolitics and priming itself for climate
It was the manufacturing-infrastructure nexus that gave wings to the Asian
miracle economies in 1990s, and now India seems ready to hum the tune. change. Nations, including India, have committed themselves to slashing
In the past, India’s approach towards manufacturing has been fragmented carbon footprints. In this era of New Energy, India has a clear edge given it
and episodic, entailing micro-level interventions that yielded little success. has abundant sun & sand and is adopting cutting-edge technology. India
This time though, the country is building the entire ecosystem. On the one is presently the lowest-cost producer of solar energy, and plans are afoot

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