What makes the elephant dance?
What has made the world sit up and suddenly take notice of India? It cannot be India’s beauty queens, fashion shows or our cuisine. What has made the elephant dance? Ask the FM. Here are his answers:-
1. Sustainable GDP Growth
In a global context, India’s growth performance of the last decade and a half ranks among the top six in the world growth league--along with China, Korea,Thailand, Singapore and Vietnam. In PPP (purchasing power parity) terms, the growth puts us among the top four in the world.Remarkably, this growth has been achieved despite severe shocks, which could have crippled a less resilient economy.
2. What makes the Indian economy resilient and robust? - Higher Earnings and Savings
3. Integration with Global Economy
4. India’s Ongoing Services Boom - India is meeting almost 70 per cent of the world BPO market requirements
More than any other country in Asia with the possible exception of Korea and Japan, the Indian engineering eco-system has helped homegrown Indian companies make a mark on the global stage. We now have among the world’s largest manufacturers of motorcycles, automobile parts, forgings, commercial vehicles, optical storage devices and many other products. Infrastructure Needless to say, we are all well aware that shortage of infrastructure has been our problem for a number of decades. But we’ve started to put our house in order. Reforms cut across various sub-sectors of infrastructure including, roads, airports, ports, power and urban utilities. In the rural areas, a major programme for developing rural infrastructure known as Bharat Nirman has been launched. It has taken India fourteen years to evolve from a poor and perhaps forgotten country to a thriving and increasingly noticed emerging economy. I am confident that it would take us much shorter than 14 years to join the league of developed nations.