India should embrace its rising economic power by setting its own global norms and benchmarks, according to Sanjeev Sanyal, a Member of the Economic Advisory Council to the Prime Minister. Sanyal believes that India should no longer be constrained by benchmarks set by third parties, in which the country has no say in the decision-making process.
Speaking at the launch of the Sovereign Risk Assessment Framework by CareEdge Ratings in Kolkata, Sanyal stressed the importance of India’s confidence in deconstructing the rest of the world on its own terms. He emphasized the need for India to take the lead in creating global norms and benchmarks across various fields.
By establishing its own standards, India can assert its economic influence and ensure that it is not limited by external factors. Sanyal’s viewpoint highlights the importance of India’s autonomy in shaping its economic future. Breaking away from reliance on third-party benchmarks allows India to assert its economic prowess and have a voice in the international arena.
India’s position as a rising economic power gives it the opportunity to influence and shape global standards. Sanyal’s call for India to create its own benchmarks aligns with the goal of establishing India as a key global player. By setting its own norms, India can ensure that its economic growth is not constrained by external forces and that it plays a defining role in global decision-making processes.
It is worth noting that while India should prioritize its own standards, it is also important to consider different perspectives and opinions. A balanced approach that takes into account various viewpoints can enhance India’s position as a rising economic power. As India continues to grow and assert its influence, it is crucial to maintain a sense of inclusivity and consider the global impact of its actions.
Overall, Sanyal’s perspective emphasizes the need for India to seize its economic potential and establish itself as a creator of global norms and benchmarks. This approach allows India to break free from externally imposed constraints and actively shape its own economic destiny. As India continues to rise as an economic power, its ability to set its own standards will be instrumental in creating a more dynamic and inclusive global economic landscape.
