Unlocking the RAJ- Which way to Capitalism???? A glimmer of hope????
Worswick and everyone:
Seems like all hope is not lost after all.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Source: The Economist.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Excerpt.
"WE SEE India, with the intellectual capability of its people, as the most cost-competitive country in the whole army of global business." High praise indeed, coming from Jack Welch, boss of America's General Electric and not normally noted for flattery.
................................................................
Liberalisation has had a similar, if less trumpeted, effect in the countryside, where three-quarters of Indians still live. Make no mistake, poverty in India remains extreme for hundreds of millions of people-but agricultural output is rising and prices for manufactured goods are falling. You can find farmers from Tamil Nadu in the south to Punjab in the north-west who control tracts of land as large as 20,000 acres; they are versed not only in crop rotation, but business as well. Many are using profits from farming to diversify into such businesses as logistics, purchasing fleets of lorries with help from new car-finance firms.
............................................
The changes in rural India are the best reason to hope that liberalisation will forge ahead: consumers have been the biggest winners of the reforms......
economist.com |
