Indian Economic Forum
Agenda: India's Developmental Paradox
(Double Delegate Committee)
Amidst a backdrop of discontent and economic upheaval, the Indian Economic Forum convenes on this pivotal day, 31st January 2025, to confront the realities of conflicting interests, regional disparities, and corporate manoeuvres that threaten to reshape the very fabric of the nation's economy. The country stands at a crossroads, dealing with challenges that threaten to exacerbate regional developmental disparities. The economy is mired in uncertainty with prolonged labour union strikes and mass layoffs by major corporations.
The persistent division between rural and urban states has created socioeconomic inequalities and impeded inclusive growth. While urban states continue to attract significant investment and development, rural regions are neglected in terms of inadequate infrastructure, employment opportunities and essential services. The lack of governmental support towards rural states has exacerbated social tensions and economic disparities. Certain cities have been clustered with capital and resources, orchestrating economic development, while the remaining part of the country has been suffering from a lack of capital and a declining per capita income. As SMEs across rural states unite to voice their grievances and demand equitable development, policymakers must prioritise their needs and provide targeted support to bolster their resilience and competitiveness.
Moreover, the ongoing strike of labour unions, which commenced in August 2024 and shows no signs of abating, has precipitated a sharp decline in GDP growth and increased unemployment woes. This unrest has come after large corporations like Reliance and Tata laid off thousands of employees in favour of improving their technological efficiency. It is a product of the Indian government acting on policies that are perceived as detrimental to workers' rights, leading to a loss of job security, reduced bargaining power and heightened income inequality.
Furthermore, concerted efforts are needed to address the monopolistic market shares held by MNCs, which wield disproportionate influence over the Indian economy. The shares held by MNCs not only stifle competition but also restrict market access for SMEs, hindering their growth prospects and perpetuating their economic marginalisation. Similarly, labour unions view the unchecked dominance of MNCs as a threat to workers' rights and job security, as these corporations often prioritise profit maximisation at the expense of fair labour practices and collective bargaining agreements.
With bated breath, the fate of India hangs in the balance, teetering on the edge of transformation or stagnation. The echoes of discontent reverberate through the halls of power, as policymakers grapple with the daunting task of forging a path towards inclusive prosperity. Will India rise above the shadows of division and disparity, or succumb to the inertia of the status quo? The answer lies in the hands of each delegate, tasked with the solemn duty of steering the nation towards a future defined by resilience, equity and shared prosperity. Will you seize this historic opportunity to enact bold reforms and chart a course towards economic renewal, or falter in the face of vested interests and entrenched inequities? The choice is yours to make, and the consequences will shape the destiny of generations to come.
Letter from the Director
“Let us sacrifice our today so that our children can have a better tomorrow.”
Dear Delegates,
It is my honour and privilege to welcome you to the Indian Economic Forum at the 28th Session of the Cathedral Model United Nations. A congregation of innumerable stakeholders of the Indian economy, as of 31st January 2025, our nation stands at a crossroads, brimming with promise yet weighed down by conundrums.
Displaced and discombobulated, owing to a plethora of reasons, the structural framework of India is in turmoil. Ill-planned policies, inequitable distribution of wealth and regional discrimination are just grasping at straws. The labour force is in upheaval, misconstrued and dishevelling any propositions made to end their strike.
Multi-national corporations are on the edge of their seats to invest in the bullish economy. However, lack of space, territorial reservations and regional disintegration have made them dubious and drawn away from the IMF’s 2023 statistic of India becoming the world’s 4th largest economy by 2025. The Indian company giants are under the radar, either undergoing investigation for floundering or mismanagement of their manpower. With technological advancements worthy of their investments, the youth is less incentivised towards research and development, the basis of welfare, today.
The crux of this Forum lies in amending both, the micro and macro aspects that constitute the Indian economy, leaving you, as harbingers of change, to exercise the mantle of leadership you possess. The Annual Budget will be announced tomorrow, 1st of February, 2025, and the fate of 1.3 billion bated breaths lies in your swift decisiveness, to cross this fragile bridge and solidify a smooth sail for future generations. I am confident that you will come prepared to champion your allocation's stance and to advocate for policies you believe will propel India's economic trajectory forward.
As we approach the conference, I encourage each of you to approach the discussions with an open mind, prepared to listen, negotiate, and respectfully challenge narratives. Needless to say, some fire and admonishment that follow are the very quintessence of CMUN. Regardless of whether you are a novice or a veteran in this atmosphere, the level of debate in this committee will be extremely high and demands the presence of mind, thorough research, and the best of your diplomatic skills.
I, Anveshi Srimal, will be the director of your committee and am delighted to see what each delegate brings to the table at this conference. I am a Grade 12 student at The Cathedral and John Connon School, with an interest in Economics, Mathematics and Sociology. You will have me invigorated for hours by discussing matters of finance, sustainability and global affairs. Additionally, I am a huge cricket and Formula 1 enthusiast. I love fine dining and will grab any opportunity to nap, read or go for a run to Marine Drive, early on weekend mornings (it’s worth waking up, trust me).
CMUN 2024 will be my 4th and final CMUN conference, my 2nd as a member of the Executive Board, drawing a close to one of the most memorable chapters of school life. I found my voice through CMUN, and I hope you do too, for within its halls lies the power to ignite a revolution of the soul.
The stakes are high, and we will continue to face choppy waters, but I'm confident that together, you will rise to the occasion and achieve our common goal.
If you have any questions, please do not hesitate to contact our Executive Board at ief.cmun2024@gmail.com.
Until August,
Anveshi Srimal,
Director,
Indian Economic Forum, CMUN 2024.
Anveshi Srimal
Director