India’s economy is showing a good progress with the youngsters around and capitalist economy out beats the democracy. Indian economy is expanding at the rate of 8.5 %, but though it has a long time to surpass China which is four times bigger than India the growth of India could sweep over China by 2013.
According to some of the economists India will be larger than any other country within 25 years. But still questions arise and is doubtful about the growth after watching stagnant water pool spreading dengue ,collapsing bridges ,unclean toilets ,tight security forces and terrorist attacks , connected to Common Wealth Games, all of which can give only a second rating to India. Another reason, a much confused government which is self biased, retarding the development of the poor and involving in fights for even small matters.
But private companies are quite strong and most of the entrepreneurs are jumping ahead with small business and good networks globally. These entrepreneurs are not at all dependent on state and are quite innovative and customers have tendency to response to them.
Growth could be a miracle in the Asian economy as India has got more working young force than older people according to census. The ratio of children and aged people to working group adults is alarming and will remain as such for a generation.
In India young people have great ideas and constant flow, unlike Chinese culture, where there is no censorship, secrecy and piracy. The culture of India is best suited for knowledge based Industries like software, yet there is unemployment as well as unstable infrastructure. But the government is trying to solve this issue by persuading private business firms to build up the capital, even though there is corruption.