India’s remarkable journey of resilience, growth, unity

Inayat-ur-Rahman, Business Editor

Colourful tableaux, fighter jet formations and motorbike stunts by army daredevils marked India’s Republic Day celebrations in New Delhi on Sunday, commemorating the day the nation’s secular constitution came into effect in 1950.

Thousands gathered in the capital to watch the parade from seats around the Kartavya Path - or path of duty - and cheered the march by troops from India’s defence forces and dance performances.

Prime Minister Narendra Modi, President Droupadi Murmu and other political and government leaders attended, with the visiting Indonesian President Prabowo Subianto as chief guest.

The Indian government says 5,000 artists performed over 45 dance forms, while the Kartavya Path was expended to improve viewing.

A cross-section of Dubai-based Indian business community members share their candid views with Gulf Today to mark the 76th Republic Day in Dubai.

Paras Shahdadpuri, Founder and Chairman of the Nikai Group of Companies, said: “I extend my heartfelt congratulations to all my fellow Indians as we celebrate our 76th Republic Day. As we come together to honour the indomitable spirit of our great nation embodied in our constitution and reflect on this incredible journey, we have all shared from adversity to prosperity. On this important day, we all must pledge to fulfil our responsibility towards the Democracy which has given us all freedom of speech, right to equality, etc. This day is a powerful testament to our shared values, resilience, and relentless pursuit of progress. May it inspire us to strive for an even brighter future, upholding the principles that make our country proud. Wishing you all a joyous and proud Republic Day.”

Bharat Bhatia, Founder and CEO of Conares, stated: “On the occasion of India’s 76th Republic Day, we reflect on the nation’s remarkable journey of resilience, growth, and unity. It is a day to celebrate the values that have shaped modern India. As an Indian living in the UAE, I am filled with immense pride in the deep-rooted ties between our two great nations. The shared values and partnerships between India and the UAE continue to drive mutual prosperity and development. Today, we honour the spirit of India and look forward to contributing to its bright future.”

Abdul Jebbar PB, Group Managing Director of Hotpack Global, said: “To all Indians in the UAE, on this Republic Day, let us take a moment to reconnect with the essence of our homeland. Even though we are miles away, the values enshrined in our constitution that have guided us for 76 years unite us with the spirit of India. By honouring these principles in our daily lives, we keep our connection to home alive. Let this day remind us that no matter where we are, we carry the heart of India within us. Wishing you all a heartfelt Republic Day!”

Shahzad Ahmed, Chairman of Blue Ocean Group, said: “The Indian growth story accelerates 6.5 per cent this year as the world’s biggest democracy gears up to become the next $5 trillion economy. It is time for all of us to celebrate. The Indian people – its human resources – are at the core of its development and it is also their achievement. Indians are also powering the growth of the top global business and technology giants as most of them are led by Indian professionals. In the GCC, the Indian-owned enterprises and professionals are helping the regional economies to grow and this is visible across all the sectors. These achievements make this year’s Republic Day special to all of us.”

Meanwhile, the Indian stock market outlook for the next week will be guided by the Union Budget, q3 results and global economic cues such as crude oil price, dollar index and US GDP growth rate data.

The Union Budget 2025 will be presented in Parliament on February 1 by Finance Minister Nirmala Sitharaman.

Companies like ACC, Adani Total Gas, Coal India, Piramal Enterprises, Tata Steel, Hyundai Motor India, JSW Energy, Bajaj Finance and Bajaj Auto will present their third-quarter results of FY25 in the next week.

Last week, the Indian equity market continued its downward trajectory, grappling with persistent technical and fundamental headwinds. Both Nifty and Sensex closed with a decline of 0.5 per cent respectively. This was the third consecutive week when the stock market witnessed a sell-off. The Nifty Realty index fell the most by 9 per cent. However, the Nifty IT index saw a rise of about 3.5 per cent.

Foreign institutional investors (FIIs) sold shares worth Rs 22,504 crore in the cash segment. The FIIs outflows exceeded Rs 69,000 crore so far this month.