Indian economy -- en route to the dream

This article was written as a starter post for a friend's non-profit organisation . 

-------------

As India sailed through the ebbs and flows of Indian economy, some sectors saw a serendipitous boom while others died down. The consequences of them all, have reflected on to the lifestyles and attributes of a common man in India, ever since independence. The quest of survival of a petty commodity in the Indian market, ended because unlike before, "quality" no longer remained a myth in India.

After being chained up for over two centuries by the British monopoly, India finally found its own laissez faire government in 1950. The main focus, then, was to increase trading relations with other established and flourishing civilizations and redeem India's pride. Later, many other policies and reforms took shape and form, and new sectors were born, for instance IT sector market increased exponentially and machine work took the back seat. Nonetheless, still less labour force was required for significantly difficult jobs. In 1991, India heralded the liberalization process and hasn't looked back since then. 

According to the Wiki statistics, India stands as the 10th largest in the world when it comes to nominal GDP and 4th in case of purchasing parity. Also, India is bestowed with one of the best growth rates globally. Still we have a long way to go, per capita income is far too low. According to a 2012 World Bank estimate, 37% of the total Indian population falls below the international poverty line of US $1.5 a day. Many rural areas remain devoid of education facilities. 

Dr. Manmohan Singh voiced his concern about improving the infrastructure of our economy looking at the aftermath that we could face otherwise, after the G20 summit last year . This could dampen trade with European countries and adversely affect our envious growth rate. 

Now I am reminded of this very famous quote by Gordon Gekko from the movie Wall Street --”The richest one percent of this country owns half our country's wealth. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons. Now you're not naive enough to think we're living in a democracy, are you buddy? It's the free market. And you're a part of it. You've got that killer instinct. Stick around. " 

India always was and still remains en route to be the greatest economy of the world, but we still have enormous work to do, to fulfil this endeavour . Seemingly, we could surpass the limitations and reach the desired economical zenith, as M.K.Gandhi had once dreamt, in a decade or two , if we continue to identify and renovate the flaws in our system.

PS : Incidentally , today happens to be 2nd Oct , acknowledged as the birth day of the legend mentioned above . 

Ciao .