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Tuesday, July 30, 2013

Indian Economic Scenario

Indian economy is one of the most capable but inefficient economy. We our self has to realize that we are lacking because we are not working as a unit. No one has the authority to say that India can never achieve. The problem is that we wait for opportunities. Many Indians complain that Indian goods lack in quality. The reason behind this is that we have a vast number of companies, with same type of products. All are competing with each other within the same country not in the world market. We have to increase the quality to that level that could be liked by all. No India based company has set up a monopoly like success in India. If some companies group together and form cooperative and further form joint sector along with the govt. they could not only become successful in India but also in the world. It would then result in decreasing imports and increasing imports, an increase in the per capita income etc. But before this we will require innovation and control on overflowing population. Govt. of India needs to tackle the situation but they are ineffective as the one child policy would affect their vote banks. Other than that they are themselves corrupt to a large extent. Their corruption is a reason of ineffectiveness of law enforcement and lack of awareness of citizens. We need strong, innovative and daring entrepreneurs who have the courage of taking risks as it is well said that ‘Greater the risk, Greater the reward. Now let’s move on to the other phase of India – the poor section. Poverty in India is a major drawback as the conditions are so worse that they suffer from basic necessities. Govt. policies always remained unimplemented.
India always have the potential to become a superpower but the majority of people are in a dilemma that we already have achieved everything, our culture is the best in the world. These people and all others have to realize that there is still a lot of work to be done!

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