India's economic metamorphosis has been "dazzling" and that New Delhi has "become a beacon of hope to the developing world".
- news.outlookindia.com
The future is probably where you are sitting right now watching my channel... in India.
India is arriving. And perhaps its time to look beyond trite examples of the Mittals, TCS, Infosys, Reliance, Sabeer Bhatia et al that are used by everybody everywhere! They are there alright, but for the time being, let us appreciate the strength of India by itself as an idea, whose time has finally arrived.
Today, India is already the biggest future fear for native workers across the US and Europe. India is seen as a country which can ruin the economic future of many a nation. After forcing and blackmailing developing nations to be a part of WTO, the same countries are talking of barriers to outsourcing and off-shoring a completely non-free market oriented thought; all thanks to a country called India. Different states in the USA are now forming their own laws and passing bills against the outsourcing of work (targeting only India) announcing that national treaties signed by the US are not applicable to them at the state level!!
Thats the kind of fear India is evoking around the world. Gone are the days when India meant a land of snake charmers and elephants. India is certainly the next big thing. Even at the current average rate of growth of 6.5 per cent, our GDP is all set to double every 11 years, which means that by the year 2025, the Indian per capita income in terms of PPP dollars would stand close to around a very respectable $12,000 while the American per capita income would be around $50,000 (at its current average growth rate). Given the fact that we are about four times their population, the time is not far away from when we become an economy bigger than that of America and our GDP goes beyond theirs. If we were to take into consideration the fact that given the slightest commitment from the government, this 6.5 per cent current average rate of growth can be easily taken up to 10 per cent, India looks all set to be this centurys biggest super power. But then one might wonder,
what about China?
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