U.S. President Mr. Barack Obama in his opening address to the parliament of India remarked- "India is not emerging, India has emerged." When the world's most powerful man says it, there has to be some truth in it. India with the world's largest population under 25 and world's second largest middle class, has all the potentials to "make it" happen.
The ongoing World Economic Forum meet exemplifies this fact. Everyone at Davos is talking about India. The west is looking east, towards a country which has enormous amount of talent. Also the workforce works for prices as low as 2 Euros a day compared to about a 20 Euros a day in Europe. It represents a class of people who are hungry to work and make it happen.
India has several other factors working for it, first the amount of people that speak and write English. This could be a major factor while providing solutions and services to the English speaking developed world. Secondly, India is a democratic nation, this might seem as a disadvantage but in the long run would only prove to be beneficial thing as it isn't a hostage of a group of few people. Thirdly, India's growth is driven by internal demand and not so dependent on exports and with the size of middle class that we have, its always going to provide a market for the production to be consumed within.
But, India has its drawbacks. The bureaucracy and the governance. People are talking about the "governance gap" and how it's the industries that have surpassed the governments. The Indians and the Indian companies will surely make it but India might just fall back. The Tatas have acquired Chorus, Land Rover and Jaguar, other Indian companies are acquiring all over and providing credible solutions to the west. Mastek provided traffic control solutions to The United Kingdom.
But as Mr. Sunil Mittal put it, "We can't really complain, I myself am a product of the Indian reforms." We must also realise that we opened up full 16 years after China did, so we have had lots to catch up since the beginning and growing at 8% steady, will not do us any harm. If we continue on this path and work on our governance, India could be a global superpower as early as 2025. The 1.31 trillion dollar GDP will soon be catching up on the superpowers. It may take some time, but India surely will make it.
"The path to success is to take determined actions."
The ongoing World Economic Forum meet exemplifies this fact. Everyone at Davos is talking about India. The west is looking east, towards a country which has enormous amount of talent. Also the workforce works for prices as low as 2 Euros a day compared to about a 20 Euros a day in Europe. It represents a class of people who are hungry to work and make it happen.
India has several other factors working for it, first the amount of people that speak and write English. This could be a major factor while providing solutions and services to the English speaking developed world. Secondly, India is a democratic nation, this might seem as a disadvantage but in the long run would only prove to be beneficial thing as it isn't a hostage of a group of few people. Thirdly, India's growth is driven by internal demand and not so dependent on exports and with the size of middle class that we have, its always going to provide a market for the production to be consumed within.
But, India has its drawbacks. The bureaucracy and the governance. People are talking about the "governance gap" and how it's the industries that have surpassed the governments. The Indians and the Indian companies will surely make it but India might just fall back. The Tatas have acquired Chorus, Land Rover and Jaguar, other Indian companies are acquiring all over and providing credible solutions to the west. Mastek provided traffic control solutions to The United Kingdom.
But as Mr. Sunil Mittal put it, "We can't really complain, I myself am a product of the Indian reforms." We must also realise that we opened up full 16 years after China did, so we have had lots to catch up since the beginning and growing at 8% steady, will not do us any harm. If we continue on this path and work on our governance, India could be a global superpower as early as 2025. The 1.31 trillion dollar GDP will soon be catching up on the superpowers. It may take some time, but India surely will make it.
"The path to success is to take determined actions."
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