I believe it is all due to lack of funds for anything better to be done. With a population of 1.4 billion and a GDP of about US$3.7 trillion, not much is available for developmental purpose. All that talk about 'population growth dividends' means little if poverty still festers, with no major areas of growth in employment to absorb the growing population. young they might be. Only in investments in industries and manufacturing can mass employment opportunities be created for more young Indians entering the job market, in order to propel the country forward.
China took a leaf from the Industrial Revolution of the West, and reaped the benefits. India did not do so for a long time, instead preferring to indulge in small scale manufacturing hubs that provided scant job opportunities for its growing population. Moreover, with voters deciding the kind of Government who can best take care of their livelihood, wholesale changes to the economy's direction is out of the question. Doing that means the Government will be voted out in no time. China does not have to cater to voter's demand and can dictate the direction of it economic direction. That has so far been more productive rather than a hindrance.
India's path forward had been charted on its predominantly service oriented economy, a direction it has chosen to follow that is diametrically different from China. Only lately has the Indian Government realised the potential for mass job creation by investing in the manufacturing and industrialisation route. India is moving in that direction without a doubt, but it is already far and away from what China has done. In fact countries like Vietnam and Bangladesh have embarked on industrialisation to attract investments from China and elsewhere over the past decades, and have benefitted.
That begs the question of the need for India to invest also in infrastructures, like rails, roads, airports and ports to cater to the industrialisation move. Otherwise, investors will still shun the poor infrastructures, without being able to take advantage of the rapid movement of raw materials, finished goods and timely delivery to ports for shipping in an industrial environment. The demand for funds to cater to all this is a problem for India to resolve.
Anonymous
13 comments:
As they say, the proof of the pudding is in the eating. Bragging does little to alleviate problems. Sure, India does have many of their talents rising in the ranks of conglomerates in the USA and elsewhere, but that is only a tiny minority. How many Indian created conglomerates are among the world's top well known icons? Less than a handful.
Moreover, those Indians in high positions in the USA and elsewhere in conglomerate giants were all created by others, and they just wriggle their way to the top. What about jobs for the rest of the Indian population that is growing domestically? It may do much in terms of bragging rights and ego boosting for India hyping on their overseas achievements, but it does little to solve the problems for India inside the country.
India needs to grow several times faster than at present in order for it to overtake China. At present it looks a very high mountain to climb, without solving faster the root problem of poverty and mass job creations to absorb the growing population, more so with all the colonial era infrastructures to be renewed to propel the economy forward.
Yes, India can tout about being the biggest democracy in the world, but getting things done is often slow and unsure. Just constructing the high speed railway system is already a lesson full of difficulty and takes a long time to get hold of lands from landowners. It can be done, but the speed it had to take to be done is taxing and inefficient with all the court battles to be fought. And if the Government looses?
To overtake China, India needs to grow at faster pace and China not growing.
That is what the evil Americans are trying to do, to stop China from growing.
The USA is very happy that India is the world's biggest democracy. That means India is handicapped by having a Government that is held hostage by voters that have been hindering changes big time.
That is good for the USA, seeing India spluttering along as the world's biggest democracy. India cannot overtake the USA, since India needs to overtake China first, which the USA is preventing it from overtaking the USA. And India, as it is today, is not in a position to overtake China. Problem solved and USA will always remain the sole superpower in economic might, letting India live in dreamland.
Indian engineering and technology is lousy. Period.
This is like saying beauty is in the eyes of the beholder. Our super talents are mesmerised by the engineering and technology of the Indians, including their intelligence, that to the super talents the Indians are the best. This is why the Indian talents are flooding this island and employed in high positions to manage the daft Singaporeans. And this is why the Indians are overflowing in Chennai Business Park and Mumbai Financial Centre in Singapore and nobody cares a hoot.
The Indians are strategically placed and will take over the world quite easily. For example if Biden for some reason is incapacitated, Kamala would be the President of the USA. Something like this could happen to Singapore as well. And an Indian PM would be in power. And everything will change accordingly.
A couple of Indians are standing for election as the President of the USA.
And all the PMs in the UK could be Indians. The PM of Canada could also be Indians.
Singapore is likely to have an Indian PM very soon as the Indians are politically more astute and cunning. They would lie low but would seize the moment when it comes. The daft in Singapore are no match for the Indians. The change over is taking shape piece by piece and surely it will happen.
The ascend of Indians in top political offices and heading big western corporations is nothing short of a miracle. They have done it against all odds.
This is how good the Indians are. Singapore is a piece of cake in waiting.
The biggest miracle is Little Britain now under Indian rule. Either the Brits are dumb fxxks or the Indians are really good. I think dumb fxxks are easy to take over, not that the Indians are really good. I fear that Red Dot is going the way of Little Britain. 'Black Fork Tongues' looks doing better than 'White Fork Tongues'. How could normal tongues deal with 'Black Fork Tongues'? Sure die one!
The Indians would always work with traitors to help them to succeed. And traitors are everywhere.
Simply amazing. One little Indian chief ruling 70m white men.
The Brits and the Americans should cover their heads with toilet papers. An Indian ruling them in UK, and a demented old man ruling them in USA. To laugh or not to laugh?
Well, as they say - 'In the land of the blind, the one eyed man is king'.
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