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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: energyplay who wrote (61634)4/5/2005 8:30:14 PM
From: RealMuLan  Read Replies (2) of 74559
 
[Just for record<g>]--India’s GDP to overtake China’s, says expert
Posted online: Wednesday, April 06, 2005 at 0000 hours IST


WASHINGTON, APRIL 5: Continuing population growth and development of a modern economy propelled by advanced technology are likely to push India’s gross domestic products (GDP) past that of China by the middle of the century, according to economist Paul Erdman. "In many ways, India’s prospects in the 21st century are superior to those of China. The institutional framework in the two countries could hardly stand in greater contrast," he says in an article for Marketwatch, published by Dow Jones. Mr Erdman says India is a "full-fledged democracy" while China remains a communist state, "under one-party governance."



"India has the advantage of a huge university educated pool of top-notch scientific, technological and managerial manpower that has the unique advantage among Asian nations of being able to think in English," he says.

What is generally not appreciated is the entrepreneurial aptitude and skills that have developed among educated young Indians due to time spent in Silicon Valley, the economist adds. Many Indians hone their technological skills at Hewlett Packard, discover and explore the sources of venture capital and then return to India.

—PTI
financialexpress.com
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