Prowess of the Indian Army, Indian Economy and CAs
Last Editorial, I wrote with tears in my eyes due to the brutal terrorist attack on tourists at Pahalgam. This Editorial, I am writing with praise in my heart and a smile on my face. Praise for the Indian Army for its prowess and smile on my face for the prowess of the Indian Economy.
On the night of 6th and 7th May 2025, India launched “Operation Sindoor” to punish perpetrators and planners of terror and aimed to destroy terror infrastructure across the border. Under this Operation, India launched well-planned, precise and skillfully executed missile attacks and destroyed nine major terror launchpads in Pakistan, and Pakistan occupied Jammu and Kashmir (PoJK) in just 25 minutes. India redefined the rules of engagement by striking deep into Pakistan’s heartland, including Punjab province and Bahawalpur. India made it clear that the attacks were only to neutralise terrorists and their bases and did not want to escalate the matter. However, Pakistan retaliated with drone and missile attacks on India and in response, India made precision attacks on the 11 military installations (airbases) of Pakistan in a matter of just three hours, inflicting colossal damage. Almost 20% of Pakistan’s air force assets, including many fighter jets, were destroyed on the night of 9th and 10th. Acceding to Pakistan’s request, India agreed to pause Operation Sindoor for the time being. India created history by becoming the first country to strike a nuclear-armed nation. All three arms of the Indian Military, namely, the Army, Navy and Air Force, worked in full coordination, demonstrating India’s growing joint military prowess.
Truly, “Operation SINDOOR has reshaped both the geopolitical and strategic landscape of South Asia. It was not merely a military campaign, but a multidimensional assertion of India’s sovereignty, resolve, and global standing.”1
India has sent all-party delegations to various countries to inform the world about Operation Sindoor and to expose fake narratives by our hostile neighbour. It is heartening to see leaders from the opposition parties forcefully putting across India’s stand in one voice.
PROWESS OF THE INDIAN ECONOMY
The onset of early monsoon pan India may be good news for the Indian economy, but irritant weather conditions have once again raised questions about Climate change. We are witnessing untimely incessant rains, hailstorms, lightning/thunder and cyclones. This has put Indian skies in permanent turbulent mode.
The silver lining amidst the turbulent weather depression is the shining Indian Economy. India is close to becoming the 4th largest economy, ahead of Japan, by the end of 2025. The International Monetary Fund (IMF) has projected India’s GDP for 2025 at $4.19 trillion, slightly surpassing Japan’s estimated $4.186 trillion.2 Indeed, the Indian economy is one of the fastest growing economies in the world, with a projected growth of 6.2 per cent for 20253 and 6.3 per cent above from 2026 to 2030. This was, perhaps, the prominent reason why India chose to exercise restraint and not to indulge in a full-fledged war with Pakistan.
Let us look at some other interesting figures depicting the prowess of the Indian Economy:
- The Reserve Bank of India announced record dividends of ₹2.69 lakh crore for the FY 2024- 2025, marking a 27.4% increase from the ₹2.11 lakh crore transferred in FY 2023-2024.4 According to the SBI report, as quoted by PTI, the bumper payout was fuelled by “robust gross Dollar sales, higher foreign exchange gains, and steady increase in interest income.”
- India recorded an all-time high of foreign exchange reserves at USD 704.89 billion in September 2024. RBI actively intervenes in the currency market to stabilise the rupee. However, despite RBI interventions, the Forex reserves of India has remained robust at USD 692.72 billion as of 23rd May, 2025.
- India is the world’s fourth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP) .5
- From 2000 to today, in real terms, the economy has grown nearly four-fold, and GDP per capita has almost tripled. Because India grew faster than the rest of the world, its share in the global economy has doubled from 1.6 per cent in 2000 to 3.4 per cent in 2023, and India has become the world’s fifth-largest economy. The World Bank reported these important facts in the India–Country Economic Memorandum published in May 2025.6
- GST collections surged by 12.6 per cent, an all-time high of ₹2.37 lakh crore during April 2025, as reported by the ET on 1st May 2025.7
- FDI in India in FY 2024-25 has risen by 14 per cent to $ 81.04 billion (provisional) from $71.28 billion in FY 2023-2024.8
It is heartening to note that the Indian economy is progressing as never before, as it has resulted in a steep decline in extreme poverty and massive expansion of essential infrastructure and service delivery. Towards India’s goal of Viksit Bharat by 2047, the World Bank report quotes that “however, for India to become a high-income economy by 2047, its GNI per capita will have to increase by nearly 8 times over the current levels; growth would have to accelerate further and remain high over the next two decades, a feat that few countries have achieved. Given the less conducive external environment, India would need to maintain ongoing initiatives and expand and intensify reforms to meet this target.” The report further outlines what it would take to realise the vision of High-Income India.
PROWESS OF CA PROFESSION IN CERTIFICATION OF FDI/ODI TRANSACTIONS
Total FDI in India rose to $81.04 billion in FY 2024-2025, whereas repatriation/disinvestment by those who made direct investments in India increased to $51.5 billion in FY 2024-25. Overseas investments made by Indian companies (outward FDI) increased to $ 29.2 billion in FY 2024-2025.
Chartered Accountant’s certification is required for outward remittances on account of ODI and Repatriation or Divestment of FDI, besides various types of payments on the current account. The above figures of capital repatriations show that CAs would have certified billions of dollars of outward remittances and valuations in the case of FDI in India. Besides, these various remittances abroad on the current account, such as fees for technical services, royalties, interest, dividends, etc., require a CA certificate in form 15CB. Thus, the CA profession is actively assisting the government in collecting taxes and contributing to the growth of the Indian economy. In a way, CAs’ role is very crucial as CAs guard the financial borders/interests of India. Thus, our professions shoulder huge responsibility and duty towards our Nation.
OPERATION SINDOOR CONTINUES….
Well, Operation Sindoor started with Sainya Bal, par abhi Jan Bal se aage badhega. Every Indian has to come forward and contribute his might to make India a Viksit Bharat by 2047.
Some of the important lessons to be learnt from the Operation Sindoor are as follows:
Think through and prepare well before any action. Strike exactly where necessary. Understand consequences and be prepared for future actions/retaliations. Communicate to the adversary. Be clear about who is the adversary, not people but elements of people/state. Know your strength and capitalise on it. Take advantage of the weaknesses of the adversary. Act responsibly, measured, and precisely. Do not exaggerate matters, and do not escalate beyond what is necessary.
The above lessons can be practised by every individual in their professional as well as personal life.
Let’s salute the Indian Army, Indian Leadership, RBI and other Ministries and Institutions contributing to India’s economic progress, the CA fraternity and the entire population of India for showing their prowess in discharging their duties.
Wish you all happy and healthy times ahead,
