well if its an essay,the main focus should be on stating the the various recent developments in various fields like space science,economic growth,hosting of important games which project the economic prowess etc etc
in space science u can say about the developments in cryogenic engines,satellite launch vehicles,the contracts we take from various countries for launching their satellites in to space..like the feat of deploying 100 microsatellite payloads in space in one launch...which is to be achieved very soon.
in terms of economic prowess,u cud say about the growth rate of 8 percent which is projected this financial year..which in inspite of the recent economic downturn the world experienced,about the new symbol for the rupee which indirectly shows the strength of the indian economy
well for two minutes first say about the economic prowess, the developmentrs our industries have made,the rise in exports etc....the space science stuff would be a good complement to that if u have time..
i hope this helped u .If not,u can ask more questions..always happy to help..thank u!!