India the Superpower? Not so Fast!
Welcome to the new India!! India has posted four straight years of 8 percent growth and everyone is taking about the rising India. In a short time, India emerged as the other major power in the Asia. There is mounting support for India to become a permanent member of the United Nations Security Council. But, is it the time to give superpower status to India. I say - not so fast.
While there is no doubt about the potential of the India and it's economy, severe structural and institutional problems will hobble it for years to come. Lets take a reality check. For all its Billionaires, Nobel Prizes and brilliant scholars and professionals, India is still a very poor country and it is the largest single-country contributor to the pool of illiterate people in the world. Also, India has to be a major player in world trade. As of today, India is just contributing less than one percent of world exports. As people are pointing out, India's growth is messy, chaotic and largely unplanned. Indian growth story is widening the gap between the rich and poor. I call it "The Great Divide". The rich are getting richer and the poor are getting poorer. The middle class is disappearing fast. India needs to find a way to bridge this gap. You find this great divide as soon as you enter India. On one side, you notice the dilapidated airports, vast slums and impoverished villages and on the other side, there are the vibrant modern cities, magnificent IT parks and so on.
There are three legs in the development triangle - free trade, education and infrastructure. India embraced free trade and it is the one of the main reasons for the development of India. But, the other two legs are still badly broken. First and foremost, India should improve its infrastructure. Even today, many poor people/villages are lacking water, electricity, proper roads and hospitals. For all its IT might, India is still a Farmers country and the agriculture sector is facing many problems. Then comes the education, which is still a problem in just the same way as it used to be. There's excellent education for the elite and some poor, but no education at all for some people at the base of the pyramid, particularly women.
On the brighter side, India is now poised to reach a higher position on the world scene than at any previous time. India's nuclear power and space program has given it an elite status. India is the world's fastest growing free market democracy. Inspite of its population and the poverty issues, India is still delivering real progress. India has a much younger population and it is into the right things, the modern, skill-intensive service sectors like IT. The overall outlook is fairly good and optimistic for India. "Our Time is Now," asserts The Times of India. It is definitely India's moment. It can grasp it and forge a new path for itself.
All in all, India has many reasons to be proud of, but there is a still a long way to go before we can call ourselves a 'Superpower'.
While there is no doubt about the potential of the India and it's economy, severe structural and institutional problems will hobble it for years to come. Lets take a reality check. For all its Billionaires, Nobel Prizes and brilliant scholars and professionals, India is still a very poor country and it is the largest single-country contributor to the pool of illiterate people in the world. Also, India has to be a major player in world trade. As of today, India is just contributing less than one percent of world exports. As people are pointing out, India's growth is messy, chaotic and largely unplanned. Indian growth story is widening the gap between the rich and poor. I call it "The Great Divide". The rich are getting richer and the poor are getting poorer. The middle class is disappearing fast. India needs to find a way to bridge this gap. You find this great divide as soon as you enter India. On one side, you notice the dilapidated airports, vast slums and impoverished villages and on the other side, there are the vibrant modern cities, magnificent IT parks and so on.
There are three legs in the development triangle - free trade, education and infrastructure. India embraced free trade and it is the one of the main reasons for the development of India. But, the other two legs are still badly broken. First and foremost, India should improve its infrastructure. Even today, many poor people/villages are lacking water, electricity, proper roads and hospitals. For all its IT might, India is still a Farmers country and the agriculture sector is facing many problems. Then comes the education, which is still a problem in just the same way as it used to be. There's excellent education for the elite and some poor, but no education at all for some people at the base of the pyramid, particularly women.
On the brighter side, India is now poised to reach a higher position on the world scene than at any previous time. India's nuclear power and space program has given it an elite status. India is the world's fastest growing free market democracy. Inspite of its population and the poverty issues, India is still delivering real progress. India has a much younger population and it is into the right things, the modern, skill-intensive service sectors like IT. The overall outlook is fairly good and optimistic for India. "Our Time is Now," asserts The Times of India. It is definitely India's moment. It can grasp it and forge a new path for itself.
All in all, India has many reasons to be proud of, but there is a still a long way to go before we can call ourselves a 'Superpower'.
Labels: Opinions