India and its economic invincibility b.v.r raghunandan
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Transcript of India and its economic invincibility b.v.r raghunandan
India and its Economic Invincibility-B.V.Raghunandan, SVS Collge, Bantwal
SDM College, Ujire
August 11, 2011
The Dominance of the USA
• Advanced Technology• Best Healthcare in the World• Private Enterprise• Absence of Government in
Business• Biggest Consumer• Major Trading Partner• Developed Armaments Industry• Well Funded Universities• Military-Industrial-Government
Nexus
The Negative Side
• Highly Polluting Country
• Double Talk and Hypocrisy
• Global Policing• Transparency &
Secrecy• Spying and Hacking• Borrowing Culture• High Cost of Life• Broken Homes
What Went Wrong……
• Too much of Borrowing
• Too much of Risk Taking
• Financial Derivatives• Asset based
Financing• Professional
Managers• Japanese Competition• Chinese Competition
Early Indicators
• Accounting Scandals in 2000
• CDS Meltdown & Sub-Prime Crisis in 2008
• Bankruptcy of Lehman Brothers
• Bank Failures in 2010• Increased Cases of
Bankruptcies• Government Doles
Invincible India• Largest Democracy• Cultural Capital of the World• Diversity• Stability Oriented• Socialistic Belief
Indian Economy• Socialistic• Big Government
Participation in Business
• Government is the Biggest Spender
• Dominant Agriculture• Stability Orientation• Slow Adoption of
Changes• Basic belief in
Regulations• Seasonal Economy
Distinct Features
• Religious Practices• Festivals & Consumption• Saving Habits• Conservative Outlook• Family Ties• Less Dependence on
Borrowing• Different Lifestyles• Cheaper Cost of Living• Tolerance
Problems• Population-Two Way
Sword• Poor Infrastructure• Inefficient Delivery• Ignored Rural areas• Inefficient Government
Departments• Bureaucracy• Corruption• Dependence on
Monsoon
Liberalisation
• Better Infrastructure• Telecom Revolution• New Generation Banks• Disinvestment• Lesser Tax Rates• Insurance Reforms• Reforms of PSU• Financial Sector
Reforms• Rural Inclusion by
Corporates