What we need today is not just a trillion dollars, but along with it a billion smiles!!!

Last Thursday, that is April 26, 2007, Credit Suisse reported that India had surpassed a milestone by crossing the $1 trillion mark in terms of nominal GDP and become one of the 11 coveted economies to surpass this figure. It is indeed a great achievement, considering that India has almost doubled its GDP in the past six years. That’s not all. It is reported that India is going to sustain this growth momentum over the next few years.

However, while this achievement does make for exciting a news and academic ‘feel good’, a close scrutiny of the Indian growth story hits us with utter dismay. First and foremost, a trillion dollars for a population of over a billion is actually chickenfeed, more so when compared to the other top 10 economies (their GDP as per their population). One might argue that it is still better than what it used to be a decade ago, that India has come a long way and that ‘if ’ we can actually sustain the current growth momentum, then India can catch up with today’s America in the next 20 years. Well, one must not forget that the moot question in such an optimistic hypothesis is ‘if we can sustain the growth momentum’, which seems to be both distant and unnerving in the current scenario.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Rashmi Bansal Publisher Of JAMMAG Magazine Caught Red-Handed, for details click on the following links:-

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)