Sunday, June 25, 2006

Special on India - Foreign Affairs Magazine

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I spent a couple of hours today at the local Barnes and Noble book store reading the Foreign Affairs Magazine. It is a reputed magazine published by
The Council of Foreign Affairs

This issue is a special on India.
Very interesting indeed.
Check it out.
Although the world has just discovered it, India's economic success is far from new. After three postindependence decades of meager progress, the country's economy grew at 6 percent a year from 1980 to 2002 and at 7.5 percent a year from 2002 to 2006 -- making it one of the world's best-performing economies for a quarter century. In the past two decades, the size of the middle class has quadrupled (to almost 250 million people), and 1 percent of the country's poor have crossed the poverty line every year. At the same time, population growth has slowed from the historic rate of 2.2 percent a year to 1.7 percent today -- meaning that growth has brought large per capita income gains, from $1,178 to $3,051 (in terms of purchasing-power parity) since 1980. India is now the world's fourth-largest economy. Soon it will surpass Japan to become the third-largest.

4 comments:

Ram Viswanathan said...

Narayanan

Will check it out..

Recently Sam P. of IBM did an article in Foreign Affairs on 'Globalization' and how IBM is moving to the next stage in the evolution..

krk said...

I always wish to write a post on this topic...as my view points differ in India shining...

But i personally feel that any country in the world without a strong production sector needs to have a smooth relation with Big brother to acheive a good growth rate...If not, your economy is gonna face a war...
Our growth rate was at 6.5% in the early years...as we had couple of wars with pakistan...and we diverted our resources to the war...rather than for developing our infrastracture..

Syam said...

wonderful to hear that...thank you Narayanan for bringing this type of use information, unlike my mokkai blog :-)

BlueByrd said...

GOD BLESS INDIA/INDIANS AMEN !