Recent G20 Summit Says so...The Economic Power status slowly shifts to China and India and in the next decade , the transformation happens. India is already a great consumer market with its highest population, Otherwise all Mobile Cos and FMCG would not have turned towards India. Today we get every brand which used to be sold only in Western part of the globe.
India GDP is poised to grow still at comfortable 8% in future years despite Recession in markets per recent economic surveys. However, I believe India's wealth is primarily controlled by Services Industry and we still yet to make a prominent mark in Mfg Industry. Unless India diversifies its exports in to various industries other IT Biz, the survival would be tough for us. Despite abundance of natural resources, it does not have the processing units in our country. It exports raw materials and imports still finished goods. The day when we export finished goods to other countries we tend to become self reliant.
Contrary to India, China dominates with nice Mfg Industries...you find every where Chinese stuff today.
India's inflation is at 8% today, but unless this comes down to 4% as targeted earlier by Reserve Bank of India, super status will be far from the reality. Despite political marriages between various parties, recently India enjoyed stability in the government and best of Finance Ministers, reforms continue to take the priority. The only head aches are the communal and religious riots across the country.
Well with all these still you can not forget India's dependency on agricultural industry, it needs to be isolated from floods, droughts...like may be linking the rivers across the country.
Thus with several initiatives we need to competely alleviate the poverty.
Markets vulnerabilities continue to exist as we are down by 40% today and almost over $6B washed out of the market. But Investors have to see the long term and should continue to invest and keep the confidence.
Any way As proud citizens of India, we should continue to provide best support to make the super power dream come to true.
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