Transcript 60 years of Independence The Future is Bright

Contrasting pictures
• Abject Poverty
•
• 200 million people earn
less than Rs 12 per
•
day. (27¢)
• Number of poor people
growing. Farmers are
committing suicide.
•
• Highest number of
illiterate persons in the
world
No 4 in Forbes
billionaire list.
Consistent 8.5%
economic growth
for the last 5 years
Highest number of
tech-qualified
persons
Contrasting pictures
• Appalling basic
health services
• One of the lowest
telephone density
in the world
• Emerging as global
pharma-hub and
medical destination
• Indian firms have
two-thirds of the
global market in
offshore IT services.
Indian IT industry is
worth $50b. Exports
$32b. Growing at 35%
Contrasting pictures
• Widespread
hunger
• Perennial
shortage of
electricity
• 126 in HDI list
Human Development Index
• “Slimming” centers
mushrooming
• India’s merchandise
exports grew by
25% last year
• People are happier
than many Western
countries according
to a recent survey
However,
there are signs of
change.
…for the better.
Signs of change:
Rising GDP growth
% average annual GDP growth
1900
1950
1980
2002
–
–
–
–
1950
1980
2002
2007
1.0
3.5
6.0
8.0
Sources: 1900-1990: Angus Maddison (1995), Monitoring the World Economy, 19902000:Census of India (2001), 2000-2005 Finance Ministry
Signs of change:
Falling population growth
% average annual growth
1901
1951
1981
1991
2001
–
–
–
–
–
1950
1980
1990
2000
2010
1.0
2.2
2.1
1.8
1.5
Sources: 1900-1990: Angus Maddison (1995), Monitoring the World Economy, 1990-2000:Census of India
(2001)
Signs of change:
Increasing literacy rate
1950
1990
2000
2010
%
17
52
65
75
Signs of change:
Rising middle class
%
Million
1980
2000
8
22
65
220
2010
32
368
Source: The Consuming Class, National Council of Applied Economic Research, 2002
Signs of change:
Declining poverty
1980
2000
2010 (proj)
46%
26%
16%
1% of the people have been crossing
poverty line each year for 20 years.
Equals ~ 200 million.
Signs of change
• Improvements are marked in
• Wealth creation: knowledge is the
key now
• Connectivity
• Democratisation of knowledge
• Democracy, governance, public
participation, transparency and
accountability
• Infrastructure
India’s advantage measurable
• A young workforce
• The average age is just 24.9. Even China(32.7) is
graying. Young mind is more adaptable to
change and new technology. India has the
largest youth base.
• Pluralism
(tolerance of differences of ethnicity and belief systems)
• Pluralism emerges from the very nature of our
country; it is a choice made inevitable by India’s
geography, reaffirmed by its history and
reflected in its ethnography.
• Democracy
• A political regime that encourages diversity.
India’s advantage perceptual
• Indian analytical mind
• Indians are inherently and genetically lateral
thinkers and more analytical. That stands them
in good stead in tomorrow’s technology- that
relies heavily on analysis and logic.
• Adaptability
• Indians can adapt to change very quickly. In fact
that is the reason three waves- agrarian,
smokestack and knowledge economy are
sustaining simultaneously. They can assimilate
and indianize things very quickly.
India’s advantage
continues…
• Relative backwardness.
• That is an advantage, because India can
straight adopt third wave technology
without
investing
in
second
wave
technology like the western countries did.
• Emerging Knowledge society.
• Knowledge is becoming central- from
running the economy to wealth creation to
governance. India with its young trained
and skilled manpower will take the lead in
the world.
We are what we think.
All that we are, arises with
our thoughts.
With our thoughts, we
make the world.
- Buddha.