Comment on the article "Can India fly?", from The Economist n 8480, 2006
Summary :
Table of Contents
- Introduction
- India's unique business model
- The benefits of comparative advantages
- India: A rising power
- Conclusion
Abstract
"Indian Business has much to celebrate", says the author of the article "can india fly?-now for the hard part", published in the june 3rd 2006 edition of The economist. india has been recently swept by great optimism, thanks to its phenomenal economic growth. Indian GDP growth hit of 7% in 2005, which corresponds to a domestic production of 801 billion Dollars within a year. In 1991, Manmohan Singh, then finance minister (who is now india's prime minister), began a process towards the opening and the liberalization of his country's economy. It is indeed thanks to an external-payment crisis (or in reaction to it) that india implemented its unique business model, oriented to an internationalization of the tertiary sector. Nearly six decades after independence, "india at last seems ready to take the place in the world that its huge population should command", says Manish Sabharwal, boss of TeamLease, india's biggest temporary-employment agency. His euphoria is widely shared. It seems that indian business model is the path to a future world primacy, or at least to the affirmation of an emerging power to counter-balance current business scale.
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