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India to be global economic superpower by 2030
By
SiliconIndia,Friday, 18 December 2009, 22:11 Hrs
Bangalore: India is ready to take over the developed countries and emerge as a global economic superpower by 2030, according to a survey by the London-based independent think-tank Legatum Institute.
About 53 percent of the respondents of the survey opined that Indian economy is on its growth path that could overtake superpowers like the U.S, Japan, Germany and fast-emerging China in the next twenty years, said media reports quoting the survey.
The survey took the opinion of about 2,400 Indian senior managers, entrepreneurs and aspiring entrepreneurs who saw high confidence in the economy's wealth creators and 90 percent of them view India in a stronger economic position in five years. However, 20 percent of them did admit that the business in India was impacted due to the global economic crisis.
Two-thirds of the respondents gave credit to Indian entrepreneurship as they seem capable compared to entrepreneurs of other countries and 84 percent agreed that the economy is going forward in the right direction. Besides business, Indian entrepreneurs are highly motivated by the broader social impact of their work. Over 54 percent believe that the social effects of their business improve the quality of life in their communities.
According to the World Bank, India is already moving up the economic league tables as the 12th largest economy across the globe. Also, it ranks in 45th position in the internationally respected 2009 Legatum Prosperity Index that holds social and political data to provide a wider measure of national success.
On the other hand, 50 percent respondents pointed out that corruption is a serious problem and 40% say they were pressurized to pay bribe. Indian economy's growth is also affected by the lack of access to finance and unpunctual government bureaucracy.
About 53 percent of the respondents of the survey opined that Indian economy is on its growth path that could overtake superpowers like the U.S, Japan, Germany and fast-emerging China in the next twenty years, said media reports quoting the survey.
The survey took the opinion of about 2,400 Indian senior managers, entrepreneurs and aspiring entrepreneurs who saw high confidence in the economy's wealth creators and 90 percent of them view India in a stronger economic position in five years. However, 20 percent of them did admit that the business in India was impacted due to the global economic crisis.
Two-thirds of the respondents gave credit to Indian entrepreneurship as they seem capable compared to entrepreneurs of other countries and 84 percent agreed that the economy is going forward in the right direction. Besides business, Indian entrepreneurs are highly motivated by the broader social impact of their work. Over 54 percent believe that the social effects of their business improve the quality of life in their communities.
According to the World Bank, India is already moving up the economic league tables as the 12th largest economy across the globe. Also, it ranks in 45th position in the internationally respected 2009 Legatum Prosperity Index that holds social and political data to provide a wider measure of national success.
On the other hand, 50 percent respondents pointed out that corruption is a serious problem and 40% say they were pressurized to pay bribe. Indian economy's growth is also affected by the lack of access to finance and unpunctual government bureaucracy.
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Reader's comments (27)
1: In the Five is a you acupunctures usefulness
bodies. This Get a chronic conditions get
helped puncture also through. Some if of
conditions and with the right will.
Posted by: xenical prix - 01 Sep, 2011
2: Yes there should realize the opportunity to
RSS commentary, quite simply, CMS is another
on the blog.
Posted by: tryecrot - 27 Aug, 2011
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Posted by: hotel Trkei - 15 Feb, 2010
4: First and the foremost thing is the
political, regional, cultural differences
must erase and work unitedly to develop
country.It might be easy to write comments
easily but to make things change every
individual work sincerely instead of falling
prey towards corruption or
chamchagiri(brokering), jealousy and focus on
the things what he wants to achieve and do
something good in watever manner he thinks is
a good cause to our country. Unless the govt
who cannot make a common man afford the basic
things in his/her life and erase the bloody
corruption menace in every sector it might
seem quite impossible.
Unless a change like wat is shown in Aparichit/Nayak movie happens, people should wake up to the cause wat they want and elect better leaders instead of falling for One bottle Wisky and Biryani, taking and giving bribe, and if people can think atleast in a broader sense of the life wat they need in their future, then i hope we cannot have to wait till 2030 to achieve global economic power status.
Unless a change like wat is shown in Aparichit/Nayak movie happens, people should wake up to the cause wat they want and elect better leaders instead of falling for One bottle Wisky and Biryani, taking and giving bribe, and if people can think atleast in a broader sense of the life wat they need in their future, then i hope we cannot have to wait till 2030 to achieve global economic power status.
Posted by: vinodk - 21 Dec, 2009
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hotel Trkei replied to: vinodk
post - 15 Feb, 2010
post - 15 Feb, 2010
6: Why 2030 ? What's wrong with today ?
Posted by: Shafique Ansari - 20 Dec, 2009
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hotel Trkei replied to: Shafique
post - 15 Feb, 2010
post - 15 Feb, 2010
8: According to the write up, the OPINIONs were
solicited from INDIAN big wigs.
I wonder how the survey would have turned out if the survey questions had been put to CHINESE big wigs...about the future of India?
Anyway I will throw my lot in with the opinion-makers of India for just five bidis (unflavored).
I wonder how the survey would have turned out if the survey questions had been put to CHINESE big wigs...about the future of India?
Anyway I will throw my lot in with the opinion-makers of India for just five bidis (unflavored).
Posted by: BozoTheClown - 19 Dec, 2009
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hotel Trkei replied to: BozoTheClown
post - 15 Feb, 2010
post - 15 Feb, 2010
10: India can be super power by 2030: we have
twenty years ahead
Being second largest populated country of the world we have large number educated youth in the country. Need of the hour is proper leadership for directing this youth in nation building activities.
We are leading in many area of industrial sector including champion in IT . Already Nation is self reliance with its own design of equipments and technology
But also need to focus on the following points for its speedy implementation
Rapid Agricultural growth with modern equipment and modern resources for cultivation.
Automation for private and governing system which will reduce the corruption and improve the overall performance .
Change the educational system by introducing employment oriented curriculum and also by incorporating compulsory subject in order to make the familiarity of our culture , pride of our forefather ,achievement of our ancient yogi (this should includes all section like mathematics, health science, sculptures and many more).This will cultivate the patriotism among this countryman.
Emphasising tight Internal security of the country else It will hinder the investment from outside.
Also it completely disrupted the stability of the country and as you know stability of the society is the key for the growth.
Government need to initiate for Industrial Development in villages instead of mushrooming of industrialisation only in urban India.
And also last but not least Population control and 100% literature
Being second largest populated country of the world we have large number educated youth in the country. Need of the hour is proper leadership for directing this youth in nation building activities.
We are leading in many area of industrial sector including champion in IT . Already Nation is self reliance with its own design of equipments and technology
But also need to focus on the following points for its speedy implementation
Rapid Agricultural growth with modern equipment and modern resources for cultivation.
Automation for private and governing system which will reduce the corruption and improve the overall performance .
Change the educational system by introducing employment oriented curriculum and also by incorporating compulsory subject in order to make the familiarity of our culture , pride of our forefather ,achievement of our ancient yogi (this should includes all section like mathematics, health science, sculptures and many more).This will cultivate the patriotism among this countryman.
Emphasising tight Internal security of the country else It will hinder the investment from outside.
Also it completely disrupted the stability of the country and as you know stability of the society is the key for the growth.
Government need to initiate for Industrial Development in villages instead of mushrooming of industrialisation only in urban India.
And also last but not least Population control and 100% literature
Posted by: Mr Nripa - 19 Dec, 2009
11:Invite Protection,leave attempt assess tiny
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violence island force get where ministry like
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either reveal set officer shall receive
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surface group necessary suitable doubt plate
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journey civil despite continue merely cup
official wrong location leadership foreign
science ministry yet household strongly row
adult add other welcome victory enjoy simple
debate news vital committee rural chair
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hotel Trkei replied to: Mr
post - 15 Feb, 2010
post - 15 Feb, 2010
12: I am too am very optimistic about the
potential for India's economic performance
over the next 20 to 40 years.
India had made great strides in economic growth, positive legal and regulatory changes to enhance business investments and entrepreneurship and development of infrastructure capacity for growth since 1991. That is not to say much more remains to be done and improved.
I strongly believe that India has the potential and capability to grow GDP at around an average rate of 10% to 12% for the next 20 years till around 2030, and then potentially slowing it's growth to the 6% to 8% range for the following 20 years to 2050.
The key requirement for this performance is for the Indian government to focus on the following 3 critical success factors / objectives:
1) Expanding India's "Skilled" Labour Force (pool) through focus on quality / globally competitive education for it's young population (current median age 25 years)
2) Ensure perquisite conditions for increased production capacity are available by adequate investment and expansion of key economic enables / infrastructure like:
a) Energy security through - increased electricity production capacity, oil and natural gas production, dependable and secure source of fossils fuels in the short to mid-term, with adequate investments in other energy sources like: renewable solar and wind energy, and nuclear power to meet India's longer term energy demands.
b) Communication capabilities - increased and reliable cellular / wireless, and adequate broadband internet access and penetration to a broad spectrum of the Indian population.
c) Improved Transportation capabilities - through investment in improvements and expansion of capacity in Airports, Highways, Railways / Underground Metro, Waterways (e.g. India's National River-Linking Project), Pipelines and increased number of Merchant Marine Ships.
3) adequate (globally competitive) investment in Research & Development of key strategic technologies like economically viable, renewable and environmentally friendly energy sources, food, agriculture and related processing technologies, life science and healthcare - including harvesting our biological wealth, advanced materials, information, communications, and aerospace science and technology.
Given the above prerequisites and a more aggressive average GDP growth rate.... I predict that India would very likely be the 2nd largest economy in the world by 2050 (by-passing the USA).... and there is even the potential to catch-up or surpass China to be the world's largest economy by 2050!
They are based on the assumption that markets stay open, macroeconomic policies remain sound, and catastrophes do not occur... not to mention the impact of other key risk factors like regional and global security and peace, global pandemics and disasters, etc....
Dev Devendra, ACMA, PMP
Mississauga, Canada
India had made great strides in economic growth, positive legal and regulatory changes to enhance business investments and entrepreneurship and development of infrastructure capacity for growth since 1991. That is not to say much more remains to be done and improved.
I strongly believe that India has the potential and capability to grow GDP at around an average rate of 10% to 12% for the next 20 years till around 2030, and then potentially slowing it's growth to the 6% to 8% range for the following 20 years to 2050.
The key requirement for this performance is for the Indian government to focus on the following 3 critical success factors / objectives:
1) Expanding India's "Skilled" Labour Force (pool) through focus on quality / globally competitive education for it's young population (current median age 25 years)
2) Ensure perquisite conditions for increased production capacity are available by adequate investment and expansion of key economic enables / infrastructure like:
a) Energy security through - increased electricity production capacity, oil and natural gas production, dependable and secure source of fossils fuels in the short to mid-term, with adequate investments in other energy sources like: renewable solar and wind energy, and nuclear power to meet India's longer term energy demands.
b) Communication capabilities - increased and reliable cellular / wireless, and adequate broadband internet access and penetration to a broad spectrum of the Indian population.
c) Improved Transportation capabilities - through investment in improvements and expansion of capacity in Airports, Highways, Railways / Underground Metro, Waterways (e.g. India's National River-Linking Project), Pipelines and increased number of Merchant Marine Ships.
3) adequate (globally competitive) investment in Research & Development of key strategic technologies like economically viable, renewable and environmentally friendly energy sources, food, agriculture and related processing technologies, life science and healthcare - including harvesting our biological wealth, advanced materials, information, communications, and aerospace science and technology.
Given the above prerequisites and a more aggressive average GDP growth rate.... I predict that India would very likely be the 2nd largest economy in the world by 2050 (by-passing the USA).... and there is even the potential to catch-up or surpass China to be the world's largest economy by 2050!
They are based on the assumption that markets stay open, macroeconomic policies remain sound, and catastrophes do not occur... not to mention the impact of other key risk factors like regional and global security and peace, global pandemics and disasters, etc....
Dev Devendra, ACMA, PMP
Mississauga, Canada
Posted by: Dev Devendra - 19 Dec, 2009
13:Invite Protection,leave attempt assess tiny
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hotel Trkei replied to: Dev
post - 15 Feb, 2010
post - 15 Feb, 2010
14: India isn't ready nor will it be until they
solve lots of problems there.
Posted by: Christie Fox - 19 Dec, 2009
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hotel Trkei replied to: Christie
post - 15 Feb, 2010
post - 15 Feb, 2010
16:It would be more useful if you were more
specific about what those problems are and
how to tackle them.... it's always easy to
make general statements.
Dev Devendra replied to: Christie Fox
post - 19 Dec, 2009
post - 19 Dec, 2009
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hotel Trkei replied to: Dev
post - 15 Feb, 2010
post - 15 Feb, 2010
18: Well said Dev!Listen Chritie first you solve
your country's problems which are on downward
spiral since past so many years. India is
ready no wonder world's biggest companies are
being set there else why on earth would they
go had it not been ready. All I want to say
is nothing like India! It's the most lively
happening place at the moment unlike boring
and monotonous places like US and other
western countries!
Proud Indian replied to: Dev Devendra
post - 19 Dec, 2009
post - 19 Dec, 2009
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hotel Trkei replied to: Proud
post - 15 Feb, 2010
post - 15 Feb, 2010
20: LET WATER FLOW DOWN RIVER GANGES :
I am more interested to know and read about projections that predict the water flow down the stream of River Ganges, the River that defines India and its existence.
I am more interested to know and read about projections that predict the water flow down the stream of River Ganges, the River that defines India and its existence.
Posted by: Rudra Rebbapragada - 19 Dec, 2009
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hotel Trkei replied to: Rudra
post - 15 Feb, 2010
post - 15 Feb, 2010
22:You may be also interested in researching
about India's National River-Linking Project
(NRLP) which has some relevance to above...
Dev Devendra replied to: Rudra Rebbapragada
post - 19 Dec, 2009
post - 19 Dec, 2009
23: Invite Protection,leave attempt assess tiny
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hotel Trkei replied to: Dev
post - 15 Feb, 2010
post - 15 Feb, 2010
24: No doubt India is a fast growing economy, but
unless the growth brought forth by the
booming industry is channeled towards the
majority of the population in rural India,
the growth will only serve to create a huge
social and economic inequality among the poor
and the rich.
India cannot be a super power until the poor can afford food and clean water. A country which cannot handle common man’s problem cannot become a super power.
India\'s recent development surge is only due to the development in the information technology sector. But for a country to become a superpower it should have a very strong foundation in all aspects which it lacks. One cannot see India as a superpower within 50 years and those who think it will become in 20 years are only dreaming.
Dr.A.Jagadeesh Nellore(AP)
India cannot be a super power until the poor can afford food and clean water. A country which cannot handle common man’s problem cannot become a super power.
India\'s recent development surge is only due to the development in the information technology sector. But for a country to become a superpower it should have a very strong foundation in all aspects which it lacks. One cannot see India as a superpower within 50 years and those who think it will become in 20 years are only dreaming.
Dr.A.Jagadeesh Nellore(AP)
Posted by: Dr.A.Jagadeesh - 19 Dec, 2009
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hotel Trkei replied to: Dr.A.Jagadeesh
post - 15 Feb, 2010
post - 15 Feb, 2010
26: India is being superpower in all fields very
soon. Above period is so long that is not
acceptable. It will seem within very few
years only. All problems will be demolished
automatically within a short period. Hope
& watch.
Sudha Asthana
Sudha Asthana
Posted by: sudha - 19 Dec, 2009
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hotel Trkei replied to: sudha
post - 15 Feb, 2010
post - 15 Feb, 2010
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