Why am I hopeful on Indian Economy?

Rangrajan, a former governor of RBI predicts slowdown of GDP growth to 7-8%. Inflation has gone highest in last 13 years. But many like me feel hopeful about the Indian economy. I see many rain bearing clouds all over the sky.

How can the growth slow down, if direct tax collection go up and up and that also by as high a figure as 47% for April-July?

Big companies are trying to put in huge investment in investment such as solar power. As reported, major players like Essar, Indiabulls, Reliance, ADAG, Tata Power, Suryachakra and Euro Group among others have come calling to the Gujarat Energy Development Agency (GEDA) with proposals lined up in photovoltaic, thermal and hybrid solar projects. Nobel Laureate Professor John Byrne to chart a roadmap that will help in translating proposals of over 600 MW into a reality. The US-based Clinton Foundation is in talks with the Gujarat government to set up an ‘Integrated Solar City’ project with a capacity to generate a 5,000 Mw over a period of time.

A gearbox manufacturing company is expecting orders worth Rs 1,100 in next quarter and expects to reach Rs 1,000 crore as revenue. The country can’t slip back with manufacturing performing so well.

Power sector has switched over from E&Y to IIT-Roorkee for consultation for its 3 Ultra Mega Power Projects (UMPP) of 4,000 Mw each at Cheyyur (Tamil Nadu), Munge (Maharashtra) and Bedabahal (Orissa). It is imposing the faith in engineering institutes and its knowledge resources.

India is going ahead with ambitious healthcare programme. India Inc is participating. Ramalinga Raju, chairman and founder of Satyam Computer has set up the Emergency Medical Research Institute in Hyderabad and has started piloting an emergency service, using the dial numbers 108. EMRI today is serving 147 million people in three states. Raju plans eventually to cover the entire country. The government is creating infrastructure for the required basic human resources.

IT companies are flourishing against all news of loosing the glow. The total number of programmers working on Sun Microsystems’ platforms in India has risen to 7,40,000, retaining the country’s position as the leading developer location across the world in comparison to 7,00,000 developers in China and around 600,000 in the US. In January this year, India had overtaken the US and China to emerge as the largest developer location for Sun Microsystems with over 6,29,000 programmers working on its platforms.

And interestingly, the industry’s associations are joining hands with institutes to make them move along the growth of the country. As reported, the Bengal Engineering & Science University, the West Bengal University of Technology and the Confederation of Engineering Industry (CII) on Wednesday signed a memorandum of understanding to collaborate in the development of soft skills among students who are likely to opt for a career in the IT sector.

And as a good development ‘One Laptop per Child’ has landed in India after failing to negotiate twice with the government of India. And this time it is with Reliance ADA Group. I see million of poor primary school students using laptop to father their knowledge and participate with the mainstream to help the country grow with its best known strength of knowledge.

And it is this knowledge that makes the largest automaker company of the world to recognize the talent of the country. Toyota involved fifty Indian engineers in developing its compact cars. So it is not only IT and BPO. Further to that even the public sector companies have started doing great. For instance, Delhi Metro Rail Corporation (DMRC) has emerged as the sole consultant for the metro rail network to be set up in Karachi, Pakistan’s biggest city.

And I believe ‘India will hop and skip to superior tech’ and attain sustainable high growth rate.

However, India faces maximum danger of all kind in all sectors from its politicians and any one claiming to have some following with vagabonds that can go to any extent and to any low. I wish the younger generation came out with a different model for politicking business.

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