The whole world recognises the potential of India to become a global economic superpower in the next few decades
- in the light of availability of global opportunities arising out of the problems being faced by today's economic giants because of
- Unsuitable demography
- Improper mix of human resource
- Extremely high wage structure not in sync with the commercial aspects of all industrial activity.
- Over spending on social security and welfare schemes
- Need to replace current nearly obsolescent technologies with newer revolutionary technologies in the fields of energy security, logistics and transport incurring huge replacement costs.
- And above all, depletion of conventional natural resource reserves which have been the strength of twentieth century industrial revolution.
India is most favorably placed as far the demography, human resource and wage structure are concerned. The other irritants can be taken care of with a judicious proportioning of expenditure on welfare schemes and industrial productivity. But strangely enough no big results are either forth coming or appear to be forthcoming in future. Aptly one is forced into asking, ' What ails India' and it is not very hard to find out the answer to this. The following come to one's mind if you try to dwell on this subject.
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