Harnessing India"s potential: Why we need a visionary leader like Singapore"s ...

By Pankaj Murarka

The biggest challenge facing postcolonial states has been to achieve growth, development and social objectives, which took centuries in the West, in a much shorter time period under much more complex circumstances. One country that has achieved that with impeccable execution and emerged as the most successful economic model in the world is Singapore.

From a tiny island being used as a British naval base at the time of independence in 1959 with abject poverty, no natural resources and a divisive polyglot society to being the most powerful financial centre of the world with a prosperous society and a modern state the transformation of Singapore in just under four decades has been nothing short of miraculous.

The Changemaker

The one person who had the vision and foresight to dream such a transformation and execute it is none other than Lee Kuan Yew, Singapore’s first prime minister. LKY, as he is popularly known, was the prime minister of Singapore from 1959 to 1990 during which time Singapore’s per capita income climbed from $400 to $12,200 in an environment of immense political and economic transformation around the world.

He had the courage to dream of a society that not only survives but prevails through excellence. While he fully understood the challenges of lack of natural and financial resources and a large population to feed, he dreamt of building a society where superior intelligence, discipline and ingenuity would substitute for lack of resources.

Every time he faced a challenge, he thought through strategically, converted the handicap into his biggest strength and came up with a long-term winning solution. It is this strategic thinking and skillful execution over the years that have transformed Singapore from a third world country to a prosperous and peaceful society in the world.

With Chinese economic growth dipping, it’s high time for India to usher a new set of reforms to unleash its untapped potential to claim its rightful place in the world. And for India to truly realize its potential we need a decisive break from the ‘business and politics as usual’ of the past. We need a new growth model. And a new leadership. India needs a leader who can channelize the inherent strengths of India for achieving our developmental and social goals.

Push Forward Reforms

India needs structural reforms and not incremental reforms to unshackle the enormous potential of this great country. We have to begin the process of reforms by bringing about change in the mindset of the political class so that it becomes tuned to receiving the positive signals that market economy radiates and to be willing to accept and acknowledge change. Also, our politicians can certainly do with some more credibility.

Judiciary is the guardian of any democratic system. In a vibrant democracy, it is essential to provide speedy justice to ordinary citizens. And while India does have an independent and active judiciary, we need to carry forward the process of judicial reforms with agility. And for that revisiting our archaic laws and plugging loopholes in the systems is the first step.

Harnessing India"s potential: Why we need a visionary leader like Singapore"s ...