Is it because India has been fiscally conservative? Even when the ASEAN economies were considered the Asian Tigers, everyone said India was a lumbering elephant.
No, no. When there were Asian Tigers, India was not even an elephant.
But, now, India for the first time - with its economic growth, NRI remittances of at least $25-30 billion - is on a very solid footing.
With consumerism on the rise in India, there is further scope of at least another few hundred million people joining the bandwagon in the near future.
In order to achieve this, India, now, has to focus on the semi-urban villages where there is an infrastructure business opportunity of at least $1 trillion.
Image: People walk under a marquee displaying news stories in Times square | Photograph: Square Chris Hondros/Getty Images
Also read: All about the US bailout plan
Advertisement
