What will be the status of Indian economy after 20 years
2006-07-30 02:22:59 · 8 answers · asked by Kumar 1 in Social Science ➔ Economics
I think India can do it.. along with China, since both of those countries will have the population power, and production/manufacture sectors as well.
India is projected to overtake China as well in population and become the largest population centre in the world in the next 10-20yrs.
Indian students seem really intelligent and are producing quality products such as in the IT area, so it seems they have potential. The key will be to see how far India can lift it's overall standard of living and equality among its citizens, and improve education, services etc., which will boost its economy later.
2006-07-30 02:29:51 · answer #1 · answered by Anonymous · 1⤊ 0⤋
"Does India proceed in a correct direction to become economic super power?" That'll never happen in the next 1 million years.
"What will be the status of Indian economy after 20 years" Poorer than, if not as poor as today.
Sorry, but that's the reality. A third world country will remain third world until the next human civilization is born.
2006-07-30 02:28:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The Indian economy seems to be moving the right direction (away from socialism) and from where I'm sitting appears to get stronger.
India has been producing large numbers of highly educated people for more than 30 years. Up to now the problem has been no opportunity for them in India. If they continue to move away from socialism the country will continue to prosper.
In the last 10 years India has become a major supplier of stainless steel components, and the large numbers of educated, English speaking computer experts makes it #1 in providing online support for computer systems.
In the U.S. there are many Indians with Phd's in economics, mathematics, and Engineering that manage hotels. Because they can live a better life here, than in India. If India will get away from socialism, protect private property, and allow the people to keep what they earn. Their economy could explode, just look at the Chinese, I believe that India due to education, and language is in a better postion to compete on a gobal basis than China.
2006-07-30 04:54:12 · answer #3 · answered by Roadkill 6 · 0⤊ 0⤋
Assuming the world stays capitalist, then India will be an economic super power when it starts focusing on financial services - in other words, focus on owning things rather than producing things. That's where the real money lies, without having to do real work.
On the other hand, if the other nations in which your financial institutions have investments are no longer capitalist, then you won't be able to get the big bucks out of them anymore. In that case, India will be an economic superpower only if it can produce real things.
In short, it all depends on international politics.
2006-07-30 18:08:22 · answer #4 · answered by cyu 5 · 0⤊ 0⤋
No. All they offer is cheap labor. When the US stops needing their services, thier economy will crumble because there is no manufacturing, and absolutely no infrastructure.
On a social note, the Indian country needs to start on a program of population control; there is a gross inequity between the haves and the have nots, due to too many people and not enough opportunities.
2006-07-30 02:33:04 · answer #5 · answered by ceprn 6 · 0⤊ 0⤋
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2016-11-03 07:29:42 · answer #6 · answered by ? 4 · 0⤊ 0⤋
absolutly , there is no better way than to take the path of globalization....plus india is a democracy something that china is not ..........read hecksher ohlin theory and you would realise the advantageous of outsourcing ......but it has to take some serious measures about problems in infrastructure.......although I must admit that there would be huge disparity in the coming years and the gap would only widen
2006-07-30 03:21:23 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Yes most probably
2006-07-30 03:10:21 · answer #8 · answered by Anonymous · 0⤊ 0⤋