October 06, 2006

India - The next superpower

The New York Times talks about India, looking forward to be the next Industrial Giant, in one of it's latest articles.

For decades, India had followed a route to economic development strikingly different from that of countries like Japan, South Korea or China. While its Asian rivals placed their bets on manufacturing and exports, India focused on its domestic economy and grew more slowly with an emphasis on services.

But all that is starting to change.
It talks about the growth in manufacturing catching up with that of services, about increasing exports, about the weak infrastructure, about the inbuilt corruption and about the unexpected boom in Manufacturing. The article explains why Multi National Corporation are putting their bets on India in the forthcoming years.

On the whole, India has been growing well for the last three-four years, but in order to keep up or exceed our own limitations, a lot more needs to be done. Where would that extra come from? Time will tell.