When will India be a developed nation?

The euphoria over 8%+ growth rates of economy and soaring quarter growths of Indian Corporations grab headlines in all newspapers for the past few days! Also appear news about increasing farmer deaths, rural unrest, employment-less growth etc. So, How should we interpret the current growth of Indian Economy? With a pinch of salt? Yes/Maybe/Obviously!!

What keeps me wondering often are the lackadaisical attitude of netas and babus (One of my oft-repeated rants!) and their sheer ignorance to steer our country to the next growth levels! We often hear about our ministers undergoing phoren trips to study infrastructure in Singapore, London etc, But, their study never transforms into any learning!! As this article highlights, Indian taxpayers fuel such trips to the tune of several crores!

Our ministers blow trumpets about how they would literally banish "Child Labour" through a legislation enacted last week, But, Experts feel the other way. Atanu opines here about why this legislation will not work and why we always get out priorities wrong and treat the symptoms instead of the actual disease! Worth a read! Other ministers worth ridiculing are our HRD minister Arjun Singh, Health Anbumani and a few other minions!!!

Ok. Let me stop the rants. Will focus on some positives: :-)

Indian exports have been surging, which may catapult India to the league of Top exporting nations of the world. The highlight is, apart from s/w exports, Manufacturing exports have significantly added to the export kitty. Top MNCs want to set shop in India, including Software Companies, Telecom Hardware manufacturing, Automobile accessories and OEMs etc. All these have spillover effects in employment and in other domains like Hospitality, Travel, Banking etc which cater to these industries. Civil Aviation is another sector to look out for sporadic growth, only if the supporting infrastructure enables it!

I am left with mixed feeling at the end of the day. Inclusive Growth is the mantra of PM's office and Planning Commission's honchos! We have to wait for another 8 - 10 years to see the outcomes of reforms and initiatives for inclusive growth!