It may sound incredible but does not seem impossible....bigger miracles have happened...A recently released Goldman Sachs report claims that not only will India be a superpower soon but will overtake the US of A by 2050. Some excerpts...
Productivity growth will help India sustain over 8% growth until 2020 and
become the second largest economy in the world, ahead of the US, by 2050,
Goldman Sachs has said, scaling up estimates of the country's prospects in its
October 2003 research paper widely known as the BRICs report. The original
report had projected that India's GDP would outstrip Japan's by 2032 and that in
30 years, it would be the world's third largest economy after China and the US.
The new report goes one step further by moving India up from No. 3 and No. 2 in
the global sweepstakes of tomorrow.
For the full article, go here..
The Times of India also gets some interesting reactions from people all over the world about the report...One of them, about previous Goldman Sachs reports, is particularly interesting...
This report needs to be taken with a pinch of salt. In 1977 a news article
claimed that India was headed for utter destruction by 2000. The report claimed
that the way India was going on, it would soon become a military dictatorship.
The reporter obviously had no idea of the IT revolution that was to come. By
2000, India was looking better than ever, and now in 2006, it is being touted as
the next superpower. The point that I am trying to make is that it is impossible
to predict what's going to happen 50 years from now. The economists base their
predictions on what is happening today and simply extrapolate today's growth.
But history is littered with failed predictions, which means you can never be
sure of what is going to happen. A war with China/Pakistan, or US/China war or a
war in the Middle East could turn the whole world upside down.Murtuza USA
2 comments:
Projections of India's dominance in the world market are very encouraging. I follow Indian Stock Market with delight every day. But, there are some really serious structural issues which could derail us.
One is related to health crisis in new India. We are just not ready to prosperous and healthy at the same time.
Second is related to our infrastructure's ability to handle bird flue or other epidemic related slowdowns. Just take a look at how Mumbai dominates India's financial world. Any disruptions there would set us back and make people think hard.
We still spend a lot on equipments of war. We need to spend that money on war on global warming.
Indian have just the right amount of hustle, glitter, neurosis, religion, introspection to lead the world responsibly.
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