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India, as we saw earlier, as many strengths. These strengths have caused many analysts to lump the country in with the so-called BRIC nations -- Brazil, Russia, India, China -- which are expected to become key global players. This puts India in a position to benefit from international trade and investment. (2)
One way in which India stands to gain is similar to the ways in which foreign multi-national's have gained by the country being open to foreign investments. India has the ability to build plants and industry on a global scale, but it must develop a blue print for how different industries can achieve productivity and efficiency comparable to the advanced countries. Indians makeup 16.7% of the world's population, despite that it encompasses just 2.0% of the world's land area. Therefore, there is a pressing need for India to develop long-range sustainability programs so as to best manage natural resources, such as land, water and minerals.
The people have benefited greatly also from many of these phenomena. The seven Indian Institutes of Technology are among the highest ranked in the world, and the Indian Institutes of Management offers jobs to its graduate that rival those offered to graduates of the top U.S. business schools. Still, a third of the country is illiterate, and three hundred million Indians live on less than 1$ a day. On the contrary, since 1985 more than 400 million have increased their standard of living, and now live on $5 a day. Over the next two decades, analysts predict that another 300 million will follow, should the economy continue to grow at a rate of seven percent a year....
Moreover, next to the U.S. And Russia, India has the most dollar billionaires in the world.
Globalization has helped to make India one of the most advanced developing countries in the world. It's large and educated workforce, many of whom are currently experiencing a rise in their standard of living, have benefited from their English-language abilities. Foreign businesses, seeing an opportunity for profit, have begun to invest heavily into India, creating jobs and stimulating economic growth. Indian companies are also excited about potential growth in the decades to come. The question of how this growth will affect their political democracy, not to mention their splintered demography, has yet to be seen.
1. Singh Kavalgit. "Globalization: The India-European Union Free Trade Agreement." Global Research, 8 April 2009
Accessed at: http://www.globalresearch.ca/index.php?context=va&aid=13104
2. Rangarajan, C, Phd. "Responding to Globalization: India's Answer," Excellence in Education Lecture, 25 February 2006.
Ram-Prasad, Chakravarthi. "India's Middle Class Failure." Prospect UK, 30 September 2007 issue 138
Accessed at: http://www.prospectmagazine.co.uk/2007/09/indiasmiddleclassfailure/
Additional but unused links http://www.globalresearch.ca/index.php?context=va&aid=6127
http://www.globalresearch.ca/index.php?context=va&aid=18305
http://economics.about.com/od/globalizationtrade/l/aaglobalization.htm
http://blogs.smeal.psu.edu/businesscasual/2010/03/17/globalization-of-business-in-india/
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