India’s Economic Path Ahead – Expert Insights at Eternal University

India’s Development in Focus – A Thought-Provoking Lecture at Eternal University

On May 12, 2023, the Akal College of Economics, Commerce, and Management hosted an impactful expert lecture on “Indian Economic Development: Retrospect and Prospect” in the university auditorium. The event featured the renowned Prof. Lakhwinder Singh, Visiting Professor at the Institute of Human Development, New Delhi.

Welcome Address and Opening Remarks

The session began with a warm introduction by Prof. S.K. Chauhan, Dean of ACECM, who outlined the relevance of the topic in the current socio-economic landscape. Prof. A.S. Ahluwalia, Pro Vice-Chancellor of Eternal University, formally welcomed the chief guest, deans, faculty members, and students, and briefly highlighted the remarkable achievements of the university in various academic spheres.

Key Insights from Prof. Lakhwinder Singh’s Address

Prof. Singh presented a comprehensive analysis of India’s economic trajectory. He acknowledged India’s rapid growth but emphasized that much remains to be achieved, especially in improving Human Development Index (HDI), where India currently ranks 132.

According to him, true development cannot happen unless we eliminate poverty and ensure basic necessities—food, education, healthcare, and shelter—for all. He stressed the importance of employment generation as a tool to uplift the marginalized sections of society, allowing them to meet their daily nutritional and living requirements.

The Industrialisation Dilemma – Why India Lags Behind

A crucial part of the lecture addressed India’s failure to industrialise effectively under both import-substitution policies and liberalised economic regimes. Prof. Singh argued that India’s emphasis on ‘Make in India’ over ‘Made in India’ has limited the industrial capacity of the nation.

He encouraged a shift toward strong industrial policies backed by robust research and development (R&D) to build a resilient and self-reliant economy.

 Acknowledgments

The session concluded with a vote of thanks by Snover Kaur, a student of the Economics Department, who expressed gratitude to the guest speaker and all attendees. Notable personalities present at the event included Pro Vice-Chancellor Prof. A.S. Ahluwalia, former Dean of Agriculture Dr. B.S. Boparai, Dean of Akal College of Agriculture Prof. S.K. Sharma, and over 150 enthusiastic participants from various disciplines.