Re Dr. Prahalad:
India has the potential to become one of the largest markets in the world in a wide variety of industries such as power, telecom, financial services, personal care products, packaged food, pharmaceuticals and cement. This creates world-scale domestic markets. It can also develop world-class competitors from India. These two characteristics define India's potential -- to be one of the five or six major economies in the world. Only three countries -- the USA, Japan, and Germany -- currently posses these twin characteristics. China, India, Brazil, and Mexico have the potential to belong to this exclusive club.
Now Mohan a question. How could India ever compete in a global economy when the machines - used to build the products of this competition - were charged 200% import duties, and now have been reduced to (only) 30% import duties. India is in a race to nowhere until the government allows transparency, and it brings some kind of logic to creating an export economy.
Indian business men in this race to compete in a world economy have one foot nailed to the floor before they can even start to think of competing. This is the most basic fact of life that everyone has overlooked.
Perhaps they have changed the 30% INdian import duty on capital equipment. I somehow doubt it.
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