World Needs India
It is a fact that today India is second fastest growing country of the world. But but our policy makers
are still reeling under the psyche that India can develop only with the help of foreign investment or foreign help. We must not forget that we are a country which provides scientists to US for its scientific excellence, a country which is fast becoming a hub for medical tourism, a country which is a recognised nuclear power, a country with the largest youth population of the world, a country whose people have proved their intellegence, hard work and entrepreneurship par excellence wherever they have gone. This all indicate very clearly that nobody can stop India in becoming a super power. What we need is the confidence in ourselves.
<strong>India One Of The Fastest Growing Nations</strong>
According to a report published by World Bank India is now one of the fastest growing countries in the world and in the years to follow it will not only continue to sustain its growth, it may surpass even the developed countries of today. In the last three years India’s nominal GDP has been rising at 16% per annum in dollar terms (as Rupee has strengthened against Dollar).
<strong>Declining Human Resources In Developed World</strong>
In the prosperity of a country human resources play the most vital role. The whole of the West is facing an acute shortage of this human resources both in terms of number as well as quality. Future is still very bleak for them. Take Germany, still Europe’s largest economy and its benchmark. By 2030, German demographers project their country will have 7 million fewer people of working age than now. There are now four workers supporting each retiree.
Some other countries are facing an even steeper demographic slide. By 2050, the United 145 million to barely 100 million.
This scarcity is behind large scale immigrations to European countries from the third world especially from Asia.
This trend of migration is found in almost whole of the Europe, US, Canada and Australia. Bulk of the migration comes from India. Though this involves a lot of brain-drain from India, where many of our educated youths trained in different spheres of life migrate in search of riches of these countries, this also brings many indirect benefits to our economy by way of International linkages. Bulk of our trade deficit is filled by way of remittances from Non Resident Indians. Not only this, what we call FDI also comes to a great extent, from people of Indian origin.
With the emerging trends in population of the present day developed countries, whether they like it or not Indians are likely to support these countries by way of migration to these countries. Even today Indian community plays an important role in the politics of US, UK, Canada etc. This phenomenon will get strengthen further in future.
Sometimes we do find a reverse trend. Many of the people from different parts of the world are looking forward to work in India for different reasons including good business environment, low cost of living, low cost of health services etc. In other words who would not like to work in an emerging power center, that is India.
<strong>India A Technological Super Power</strong>
On January 10, 2007 India stunned the world by launching four
satellites on a single rocket, including one that will be brought back to earth to set the stage for the country to send an astronaut into space. It not only carried two small Indian satellites but also two foreign satellites, one each for Indonesia and Argentina.
India is fast turning to become one of the few countries to possess a capacity to hit a target of 5000 kilometers. India has already successfully test fired Agni II ballastic missile, with a range of 2000 km in April 1999.
<strong>India Emerging As A Hub For Medical Tourism</strong>
On the one hand Indians are getting settled abroad, high cost of health care is attracting foreigners from almost all parts of the world including so called developed countries to India for solution of their health related problems.
<strong>Is It Because Of
Globalisation?</strong>
If we are the fastest growing nations in the world it is not because of globalisation. If we have a look at the composition of GDP and its growth, it is clearly indicated that globalisation has practically no role in GDP growth. Rather globalisation has played a negative role in the growth of agriculture