Diwali’s new ledger: Writing a new story of economic progress

Solar power, nuclear energy and MSMEs offer opportunities to expand jobs and strengthen domestic industries.

The new year’s economic resolutions made alongside Lakshmi Puja should not be limited to wealth and property. Investment in solar and nuclear energy, modern industries, start-ups, micro, small and medium enterprises (MSMEs), and skill development can help India write a new chapter of employment and prosperity.

Prime Minister Narendra Modi has opened new avenues for India’s economic development by demonstrating the country’s diplomatic influence and economic strength on the global stage. This will help India achieve its goal of becoming a self-reliant nation by 2047.

Diwali is a festival in India where religious faith, social traditions and economic activity come together. For centuries, members of the trading community have closed their old account books and opened new ones on the occasion of Lakshmi Puja. By writing Shubh-Labh (auspicious gains), they express their hopes for new businesses, investments, production and economic growth. This is not merely a tradition, but also a commitment to hard work and optimism about the future.

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At a time when India is strengthening its position among the world’s leading economies, Diwali’s new ledger offers an opportunity to reflect on the country’s economic potential and challenges. India has a vast domestic market, a young population, technological talent and entrepreneurial capacity. Energy, manufacturing, start-ups, small industries and skill development are sectors that can shape the country’s economic direction in the coming years.

An adequate and affordable energy supply is essential for the progress of any economy. Alongside conventional sources, India has made significant progress in renewable energy. By July 2026, the country’s installed electricity generation capacity based on non fossil fuel sources had crossed 300 GW. Solar energy accounts for the largest share of this capacity. This is an encouraging achievement for the future. Solar power is not merely a means of environmental protection for India; it is also an emerging economic opportunity.

The PM Surya Ghar Muft Bijli Yojana has opened the way for ordinary citizens to participate in energy generation by installing solar panels on rooftops. Solar pumps in villages, agriculture-based solar projects, rooftop installations for small industries and large solar parks can generate electricity as well as employment.