Agriculture - Grain production in India is 200+ million tonnes. China is at 500+ million tonnes. India is nearing china in the population count. India needs to increase productivity, nutritive quality of its agricultural produce. We have been pulled back by protest against GM (Genetically modified seeds) in the name of environment and biodiversity. If we look at the facts BT cotton has converted India from cotton importing nation to and cotton exporting country.
Mining - Court ruling - Coal miners will have to share 26% of their profits on well being of project affected people. Courts came harshly on illegal mining in Bellary, Karnataka. Illegal mining led to encroachment of forest land, high pollution levels, blood pressure, health issues.
FDI - Total money invested through FDI was 15Billion$ in 1985, 162Billion$ in 2002 and 2Trillion$ in 2011. FDI investments are needed to remain competitive in world markets.
China used foreign money to increase industrialization and employment, skill development. At the same time it used its domestic saving to build infrastructure. Chinese government nurtures and directs economic activity.
While in India entrepreneurs found a way out of minimum facilities, inadequate infrastructure, nascent capital markets. India focused on service sector which needed less capital expenditure. Software, IT services, pharma, knowledge based outsourcing. We still suffer from infrastructure gaps like poor roads, insufficient water, electricity. You need huge capital fro steel plant not for a software company.
Mining - Court ruling - Coal miners will have to share 26% of their profits on well being of project affected people. Courts came harshly on illegal mining in Bellary, Karnataka. Illegal mining led to encroachment of forest land, high pollution levels, blood pressure, health issues.
FDI - Total money invested through FDI was 15Billion$ in 1985, 162Billion$ in 2002 and 2Trillion$ in 2011. FDI investments are needed to remain competitive in world markets.
China used foreign money to increase industrialization and employment, skill development. At the same time it used its domestic saving to build infrastructure. Chinese government nurtures and directs economic activity.
While in India entrepreneurs found a way out of minimum facilities, inadequate infrastructure, nascent capital markets. India focused on service sector which needed less capital expenditure. Software, IT services, pharma, knowledge based outsourcing. We still suffer from infrastructure gaps like poor roads, insufficient water, electricity. You need huge capital fro steel plant not for a software company.
For the sake of the readers.
ReplyDeleteThe amount of FDI in various years given here is the global money transaction via FDI and as of 2010 it's closer to $1.12 Trillion than $2 Trillion.
The two largest FDI recievers are US($228 billion) and China($105 billion)in 2010.
India($24 billion) compared to the US$34.6 billion in 2009 is one of the very few emerging economies in which FDI inflow in 2010 was lesser than that in 2009.