For years, ever since the UPA came to power - and even before that when NDA ruled - PMs and FMs have espoused that India’s is the next growth story.
They have hinted that India, not China, will be the next economic superpower. Everyone thought they were right - stockmarkets boomed, forex reserves shot up, growth threatened to cross the double-digit mark, and India became the global services czar. But now, slowly but steadily, red signals are flashing on many economic fronts. Economists talk about a slowdown. Stockmarkets are volatile, and no one knows whether stock prices will move northwards, or downwards. And inflation remains a key concern. All this is happening when the UPA coalition is getting ready for the general elections in 2009. B&E analyses the future of the exuberant India growth story. By A. SANDEEP, ASIF AHMED, VIRAT BAHRI, MANISH K. PANDEY AND GYANENDRA KASHYAP
A manufacturing slowdown?
The name ‘Gorilla’ comes from the Greek word Gorillai, which means a ‘tribe of hairy women’. Gorillas are seriously interesting creatures. Tamed, they can fight a pride of lions for you, er, as long as you have a two-metre, 250-watts electric shock-rod ready at your hand. Well, that’s exactly the India growth story right now. Undoubtedly, India’s growth saga is thundering upwards like nobody’s business; and, till now, almost all the indicators prove that. Strangely, some of the very factors that have led to this flamboyant growth in the recent past are now playing truant by restricting us from experiencing what could have been a dramatic transformative economic upswing, much more than the growth rates that we so proudly flaunt globally! And the blame lies completely with the policy makers, who have clearly erred in not utilising most required control measures in a timely fashion.
They have hinted that India, not China, will be the next economic superpower. Everyone thought they were right - stockmarkets boomed, forex reserves shot up, growth threatened to cross the double-digit mark, and India became the global services czar. But now, slowly but steadily, red signals are flashing on many economic fronts. Economists talk about a slowdown. Stockmarkets are volatile, and no one knows whether stock prices will move northwards, or downwards. And inflation remains a key concern. All this is happening when the UPA coalition is getting ready for the general elections in 2009. B&E analyses the future of the exuberant India growth story. By A. SANDEEP, ASIF AHMED, VIRAT BAHRI, MANISH K. PANDEY AND GYANENDRA KASHYAP
A manufacturing slowdown?
The name ‘Gorilla’ comes from the Greek word Gorillai, which means a ‘tribe of hairy women’. Gorillas are seriously interesting creatures. Tamed, they can fight a pride of lions for you, er, as long as you have a two-metre, 250-watts electric shock-rod ready at your hand. Well, that’s exactly the India growth story right now. Undoubtedly, India’s growth saga is thundering upwards like nobody’s business; and, till now, almost all the indicators prove that. Strangely, some of the very factors that have led to this flamboyant growth in the recent past are now playing truant by restricting us from experiencing what could have been a dramatic transformative economic upswing, much more than the growth rates that we so proudly flaunt globally! And the blame lies completely with the policy makers, who have clearly erred in not utilising most required control measures in a timely fashion.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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