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IS INDIA SUPER POWER?

IS INDIA SUPER POWER?

IS INDIA JUST A SUPER POWER IN PAPER TRIALS ?

India is now a prominent and well recognized face on the world economy. It is a country that is being increasingly identified with high-quality products, services and processes ,not to mention its wealth of skilled manpower that is among the best in the world. A system s cannot change its pattern once it has evolved. The manner in which it progresses determines its end-state. In short, how India becomes a superpower will depend its structure, its mindset and its behavior.

Globalization gives additional job opportunities, additional capital to augment rising domestic savings and additional know-how. This encouraging combination gives an edge for India to become the world’s fastest-growing economy. India’s emergence as a superpower will prove to the world that it is possible to eradicate poverty to a large extent within one generation in spite of a diverse culture, secularism and an active multiparty democracy.

According to trade analysts, India’s GDP will grow at a faster pace than China’s over the next two decades. Morgan Stanley predicts that India will become world’s fastest growing economy by 2013-15. Although India is the world’s fastest growing economy, only a good control command system can ensure a rapid economic growth and that democracy in some way hinders rapid economic growth. Nevertheless, India will be the largest contributor to the world’s workforce, all of 136 million people over the next 10 years (fully a quarter of the entire world’s additional workforce), China will add just 23 million.

Also, India is capable to serve as a leading example of how to start things at the grass root level and thus achieve rapid economic growth through involvement at lower level In India irrespective of class and gender everyone of voting age exercise their political rights actively. Hence equal opportunity will be even more critical for India’s social stability as compared to other emerging non democratic countries. These values are likely to become a permanent part of the country’s structure when it becomes a great power .

Further the prospects seem bright and by 2025, India is sure to come out as one of the world’s least corrupt developing economies. Though widespread corruption is rampant in almost all developing and a few developed economies , India is one of the very few developing economies that can boast of a free press that acts as a watch dog to expose the corrupt. A powerful fourth estate will definitely ensure that no matter how powerful one is, the corrupt shall never go unpunished.

The sunshine sector of the Indian economy- the Information Technology will help India to emerge as one of the world’s leaders and boost the effectiveness and efficiency of its institutions – the corporations, the government and as well as civil society organizations. Information Technology is one of the most important industries in the Indian economy. The IT industry of India has registered huge growth in recent years. India’s IT industry grew from $150 million in 1990-91 to a whopping $50 billion in 2006-2007.In the last ten years the IT industry in India has grown at an average annual rate of 30%.

Finally, rapid economic expansion has made India as one of the world’s fastest growing energy markets and it is likely to be the second-largest contributor to the increase in global energy demand by 2035.The country has huge plans to expand its renewable and nuclear power industries considering its growing energy demands.

India has the fifth largest wind power market .The country has five nuclear reactors under construction (third highest in the world) and plans to construct 18 additional nuclear reactors (second highest in the world) by 2025.
India’s emergence on the global economy is fairly recent – 15 years is very short period to undo the numerous mistakes committed way back . The systemic ills dogging the Indian economy are still strong enough, if not as strong as during the centrally-planned economy years. The benefits of liberalization and globalization are limited to certain geographical areas of the country as also certain economic sectors. The unequal distribution of wealth has placed India’s per capita income just ahead of sub-Saharan Africa, and it is about one-sixth that of Latin America. Moreover , 35% of India’s population still lives on less than $1 per day. So India emerging a super power is still a long way ahead.

IS INDIA SUPER POWER?

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