India has the world's second largest population and one of the fastest growing economies in the ... Will India become a world s
But these are testing times for the country. Despite increased wealth and a burgeoning urban middle class, the vast majority of India's rural population remains illiterate and impoverished.
In the aftermath of last week's earthquake, India has offered assistance to Pakistan, which some commentators have suggested could lead to closer relationships between the two countries.
We'll be discussing India's future in a special edition of Talking Point, live from Delhi on Sunday, 16 October. Our special guest will be Ambika Soni, Chair of the All India Congress Committee. If you'd like to take part, send a phone number with you comments and questions. Your number will not be published.
The most important factor which is enabling India to achieve such growth is cost. Because wages are a lot lower than other European counties the Indian outsourcing companies can offer the equivalent service a lot cheaper. This will change once the people working for the outsourcing companies start to demand more of the new found wealth coming into the country. All labour starts out cheap but always becomes more costly.
India is well poised to become a world superpower. It is ironical that the huge population that was once considered to be India's biggest liability is now rapidly transforming itself to become India's biggest asset. The fact that India has a young population is a huge bonus.The huge pool of English speaking graduates can further spur the economy. Of course the twin evils of corruption and inequality have to be eliminated before India can take its rightful place in the world.
India has the capacity to become a world superpower. Indians are doing well in their own country and across the world. The only thing to come in the way is the politicians. If only they would have concern themselves with political issues - then there is nothing stopping us. India can show the other countries of the world many things and would be a different kind of superpower than the world has seen.
Successful outsourcing in India is built on the fact that the English language is common to the whole continent. This is not the case in other competing/developing nations like China. Superpower status is just a matter of time provided the problem of infrastructure and corruption is addressed. This is where the challenge really lies.
I think India has the potential and surely the opportunities to become a world superpower but what we lack is the attitude and not enough effort to get the masses out of poverty. The booming economy benefits the middle class and the rich. What about 80% of the country that is poor? A superpower should be able to provide economic freedom for all.
Two third of Indian population live in villages. Unless these villagers are brought above poverty line, offered a decent life, superpower status should not be even discussed.
India's economic success is built on the sacrifices of previous generations, not just economic liberalisation. Even before the economy opened up these generations were quietly laying the foundations for India's future.
I can see India growing to become one of the world's superpowers. A closed economy gave way to liberalisation in the 90's and since then, India has registered a growth rate exceeding 8% every year. In the next 5 years, India is investing heavily in basic infrastructure like energy, roads and railways. A fiercely competitive education system continues to churn out graduates in is millions every year, who can take on the demands of a changing world - be it in service sector or manufacturing. There are many issues which need addressing and some of these will get automatically corrected with better growth rates.
India definitely has the potential to become a global superpower within this century. A huge pool of skilled English speaking graduates are key to the required and sustainable growth rates needed. Yet at the same time, the Indian government should pay heed to its critics who point out that social spending, especially in the areas of health and education, as well as the rooting out of corruption and encouraging civic duty are the key platforms behind any real change.
A good economy and industrial growth, yes, but superpower is asking for too much. With prevalent caste system, complete disconnection between urban and rural lives, pathetic infrastructure, rampant corruption - it's difficult to foresee India as a superpower in the next 50 years. India's focus should be to spread the riches across the nation and among the impoverished rather than eyeing the superpower tag. That means less spending on missiles and defence and more on basic needs of people.
In order to achieve sustainable economic growth, the Indian government needs to address some major issues. Investment in infrastructure, a consistent and accommodative foreign investment policy, well regulated capital markets, overhaul of the judiciary, reduced inefficiencies in government organisations, and above all, political stability.
India SHOULD become a world superpower soon. However, that is not enough, we must adhere to the basic requirements of the hundreds of millions of people both in rural and urban India. Even now, the infrastructure in the capital cities of several states in appalling. I think the Mumbai floods should be a wakeup call for all India.
Just because multinational corporations are flocking to India mainly because of cheap labour does not mean the country will become a superpower. Anyone who visits India can see the overpopulation, extreme poverty, Third World facilities and too many social issues going on. India has a long way to go to catch up with the 21st century and I can't see this happening in our lifetimes, whatever economic analysts may say.
Indians seem to me to be an innovative and industrious people. I am an IT worker and have certainly seen the impact that India has made in this sector (not all of it welcome from my point of view, I have to say!). I am certain that India will attain even greater influence in the global economy that it has now, but I suspect that the gap between the 'haves' and 'have nots' in India will widen rather than diminish.
India has a serious problem with the spread of AIDS, which at the moment is crippling Africa's economy. Facing this should be a priority or it will destroy any chances future generations have to prosper to become a global player.
India's economic progress in recent years has been remarkable, but patchy. Progression from this early phase of development will require very substantial investment in national infrastructure. Without this, the path to growth and prosperity will be choked off and the benefits will never filter down to the bulk of the population. If India is to invest in its own infrastructure, then that same burgeoning middle class will have to pay its taxes. Tax collection is pitifully low and evasion the normal state of affairs. India's growth will ultimately depend on its ability to foster a sense of civic responsibility.
The definition of a superpower is open to debate. As India grows, she must bring with her a rising tide that will lift the poor from their misery. That in essence, is a real superpower.
India's economic growth is mainly the result of "outsourcing" of hi-tech, telecommunications and other services from the West, particularly the US. This is mainly due to the availability of professional technical skills at cheaper cost. While India's economic growth is encouraging, its sustainability is doubtful as the growth of hi-tech industries in other developing countries (especially China) could, over time, serve as a major destination of "outsourcing" which could have a negative effect on India's economy.
If India can overcome the strict caste system and allow "common" people to advance in leadership positions, then we can become a superpower. The elitists think a poor person cannot overcome his situation to run companies or take up government positions. I have lived in the US for 10 years now and see why the US is such a superpower. Everyone is in a position to advance, not because they were born wealthy, but because they are (usually) the best person for the job. There is a very powerful culture of entrepreneurship in the US that India can learn from.
An increasing number of multi-national corporations are flocking to India to tap into the one-billion strong consumer market, and to take advantage of a very well educated middle class that costs a fraction of educated workforces in other countries. With the resulting inflow of foreign capital combined with expanding domestic corporate and consumer credit markets, India is well on the path to robust economic growth over the next decade. The biggest challenge to India's global economic prominence is undoubtedly the Indian government. In order to truly harness existing and future opportunities, the government needs to address some major issues - investment in infrastructure, a consistent and accommodative foreign investment policy, reduced inefficiencies in government organizations, and above all, political stability.
While India's economy is indeed becoming stronger the sad fact remains that a vast majority of the population (especially those at the lower end of the caste system) still live in extreme poverty.
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