Growing India, Rising Hopes

Corporate India is expected to invest $250 billion over the next three years.

India Inc will create 9, 17,000 new jobs in 2010-11.

The index for industrial production has risen 16.8 per cent from a year earlier in January, after expanding by 11.8 per cent in November last year.

With an annual production of 2.3 million units, the Indian automobile industry is the ninth largest in the world.

With a high saving rate of 33 per cent, low urbanization levels and a young population, India will consume a lot more than all other economies and this will sustain growth in the labour force, capital stock and productivity over the next decade, says Credit Suisse, and the per capita income will triple from $1,050 to $3,400 by 2019.

India’s consumption is a mere $700 billion, leaving enough headroom for growth. (US consumes $10 trillion worth of goods and services, China consumes $1.4 trillion.)

India is expected to be a $4-trillion economy by 2019.

Real GDP growth is expected to average 8 per cent per year from 2010 to 2014 and 7.5 per cent per year from 2015 to 2019.

The Indian Government is planning to pump in $100 billion into infrastructure development.

The manufacturing sector’s rate of growth has shot up between 9 and 12 per cent in recent years.

The consumer electronics sector has grown by 10 per cent. Refrigerators and washing machines have grown by 17 per cent in terms of volume.

The auto industry today employs around 13 million people in direct and indirect jobs. As estimated, the Indian automobile industry will create another five million direct and indirect jobs by 2012 and will employ around 25 million by 2016.

NASSCOM estimates that the Indian IT-BPO industry is slated to record 5.5 per cent growth and reach $49.7 billion in the year ending 2009-10.

India is expected to add about 15,600 hotel rooms in 2010. And by 2011, 40 new international hotel brands will be operational in India. Add to this, close to 415 projects or 68,480 rooms are under various stages of development and 41 per cent of these projects may start adding to existing inventory from 2010.

Hospitality in India is likely to generate $121.4 billion of economic activity by 2015 and will earn $24 billion in foreign exchange. By 2018, the market for the hospitality industry is expected to double in size.

Over the next five years, the cumulative demand in the residential sector will be about 75.43 lakh units.

India has the largest student population in the world with 13.5 crore children in primary schools. The country faces a shortage of at least two lakh schools.

Health-care has been growing at 15 per cent. By 2012, medical tourism is expected to contribute $5 billion in foreign exchange earnings. Healthcare employs four million people at present.

The healthcare industry was $38 billion in 2008-09 and is expected to be close to $76.4 billion in 2012-13. By 2012, it is expected to generate employment for 9 million people

In the coming years, over one million beds need to be added to reach a ratio of 1.85 per thousand. Over the next five years, $1 billion is expected to be invested in the healthcare sector.

If the industry is to achieve a doctor-patient ratio of 1:1,000, it would need six lakh doctors and one million nurses. And if the industry continues to grow at this rate, it has the capacity to create employment for 9 million by 2012.

With all the hopes rising sky high, how can ‘the three real idiots’ hold the country behind? Where is the need of reservations of any type? Let the barriers and restrictions of castes and communities get broken. Let us save for the nation. Let the investment increase and capacities expand. Let everyone get education and skill. Let everyone from a janitor to a scientist participate in innovation innovate. Let everyone positively contribute in the task of taking the nation ahead and out of poverty by hard work and not by loan waivers and subsidies.

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