Finance, Forex and Investments

Will India be a Developed Nation (like Prosperous Europe)? Or Will India always be just a Third World Country?

NO ......NEVER ============== What do you mean by Developed Country ? Let us take the case of China ... China has a large number of rich people , but they form less than 0.001% of the Total population of 1 Billion people ( even that is huge ). But millions of Chinese live on less than 1 dollar a day. Shanghai is like Bangalore ( Rich & Developed ) but what about smaller villages ... China is basically a Backend Sweatshop Economy - that produces cheap good that can be sold worldwide...since they are good at manufacturing large number of items , certain percentage of people are rich. Even then China's Economy is 10 times the size of the Indian Economy with around 6 trillion in GDP. About India ========= India has some developed cities ( Just like China ) like Bangalore or Chennai ( or Hyderabad or Delhi )..,.But million of millions of people live on less than 1Dollar a day ..even in Delhi .Even in Delhi , millions travel by Rickety buses ...live on just Rs 5000 ( $100 ) per month to 15000 ( $ 300) . Indian Economy is mostly a Bubble economy . Call Centres have done well ( Selling Services to US Customers ). IT Companies have done well ( Making softwares for US Companies ) . Automobile industry has done well ( With many Companies setting up Worshops in Chennai or Bangalore ). Even in South India majority of Indian are just poor ( like most of Indians ) What about : 1.Punjab - Looks more like Pakistan - or as poor as most pakistanis 2.MP 3.Chattisgarh 4.UP 5.Bihar 6.Rajasthan 7.West Bengal - Looks more like another Bangladesh 8.Orissa - As poor as Bihar 9.Assam 10.Jharkhand 11.J & K 12.Haryana 13.Tripura 14. List goes on ?...? Teeming Millions in Poverty NO .....NEVER ..India does have some bright minds but their numbers are just few in number to make any difference. India doesnt have the potential ========== Disadvantages for Countries like India ============================ India has several states categories as BIMARU States ( states that "Sick" ) Teeming Millions Living in Poverty . Can you deny Delhi doesnt have Slums or Mumbai doesnt have slums .. Slums where people live near Sewage waters ... Disadvantages =========== India doesnt have the resources. India is Too Overpopulated ( heavy Pressure on Land already ).Teeming Millions living in poverty. Even the Rich in India , can be considered as Poor by Western Standards A MNC Executive can earn just Rs 50,000 ( $ 1000 by US Standards ). Still Rich People by Indian standards earn just Rs 1,00,000 ( $ 2000 ). They can consider themselves but cannot afford to live in any european or US country with this salary.

Public Comments

1. It will be 3rd world if they dont start controlling their population since they dont have the land for it.
2. Well I heard on NPR that India has a real corruption problem that is hampering it's overall growth.
3. Because of the corruption in India, it will NEVER be prosperous. People over there only think about money, scam, money, scam, and money.
4. India has a corrupt government. However the Indian mindset is at least better than the Thai mindset or other asian countries. Like in Thailand they always think presently and can't think in pretense and therefor tend to be bad businessmen unable to see problems as an ongoing problem and only seek to correct it in the short term.
5. Indias biggest economic difficulty is population. It took the black death to create the burgeous, Europes first middle class. Economics 101. Iron Law of Wages.
6. So you are saying first that China is still poor so India can never be industrialized? I completely disagree. One reason China is so ahead of India is because it is run by a one-party communist government that knows that to keep legitimacy in the country, it has to bring economic prosperity to the masses. China and India's GDP is growing at an incredibly fast pace at 10%. China is completely different from 10 years ago, and if you were there 30 years ago when it first began adopting a free-market economy, it was as 3rd world as it could get. That is an incredible feat that they have accomplished. I believe in the next two to three decades, income distribution will be similar to more developed nations like those in Europe. Of course, I hope they will be a democracy, but I don't expect them to be :(. India does have the potential from it's fast GDP growth to it's large population. Unfortunately, I believe a Democratic Government makes it more difficult than a Communist one to get national policies passed. For example, China has their state-run companies and state-run media as tools to influence and shape their free-market economy. They can use those tools as way to boost their economy and guide national policies like stem cell research. India on the other hand have just as much corruption as China but must work within bickering and political clashes throughout their parliament due to its democratic government. Despite all this, like I said, they are growing rapidly and I believe that it will develop into a much more prosperous region like Europe and the United States. It just won't develop as quickly as China due to its inefficiencies.
7. Hello indian you made me to puke than pakistan is poor than india. Hahaha you are typical saffron brigade, temple brainwashed man. Let us look at these figures. As per capita income of pakistan rose over 50% to nearly $2500 in purchasing power, poverty in Pakistan decreased from about 34.5% to 17.2% and hunger went down with it during Musharraf years from 2000 to 2008, as reported by World Bank and IFPRI as lagging indicators. The global hunger index score, published annually by the International Food Policy Research Institute(IFPRI), is a number between zero and 100, with lower figure signifying less hunger. Based on hunger data collected from 2003 to 2008, IFPRI reported that Pakistan's hunger index score improved over the last three consecutive years reported since 2008 from 21.7 (2008) to 21.0 (2009) to 19.1 (2010) and its ranking rose from 61 to58 to 52. During the same period, India's index score worsened from 23.7 to 23.9 to 24.1 and its ranking moved from 66 to 65 to 67 on a list of 84 nations. PAKISTAN IS FAR LESS POOR THAN INDIA. "Out of every two hungary people in the world one is indian". Indians have largest number of poor people in the world, while being one of the most corrupt country. India have many times more slums than the entire population of pakistan. Pakistan has far better per capita income than indian. 350 million dalit untouchables of indian dont earn even 1 rupee per day. Indians also drink urine as large population of india dont have even water to drink. Just like morarji desai or gandhi. So stop comparing with pakistan and keep your dalit slum mouth shut.
8. You seem to be south Indian. You compare Bangaluru with Shanghai. You cannot compare Bengaluru even with Mumbai. Bengaluru can be compared hardly with Pune. Just IT hub does not make any city to be megapolis. You have to have everything that takes any city to be compared with Shanghai. I think you may not be aware that Narayan Murthy started his career in Mumbai and Pune and after everything was set up he shifted everything to his home town Bengaluru. And you see what is Bengaluru today is indirectly outcome of Mumbai. I do not think any more elaboration is required for your beloved mega city.
9. I think...they can..they have really smart people...if u look at educational things ..Indians r doing really good...but they have to use that smartness for their country. and people from their kinda selfish.. like 1st they want to make their own good...thn the whole country..they even don care about others harms.. so traffic jam,electricity.. is keep going..I think they can...but... it will take time