India since its independence has been a potential. In the 80’s I have grown up hearing India has potential but… Indians are great but… We can be a super power but… No wonder a 3.5-4% growth rate was given the term Hindu rate of growth because India never grew more than that.
Since the early 90’s things have changed. With globalization and opening of the Indian economy the average rate of growth moved to 6%. But still there was something lacking. We were no where near the growth showed by our neighbor up north.
Given our population, the number of English speaking graduates and the size of the middle class. India was always a potential waiting to happen. Now some stats
“At the start of the decade, India was pretty much a telecom backwater. No more. Last year it actually grew at a faster rate than China for the first time in new mobile phone connections—and it is set to expand more than three times as fast as the mainland in 2007, according to a new study by London-based research firm Wireless Intelligence. Last year, the number of mobile connections in India more than doubled to 142.2 million and that figure is expected to expand 48% to roughly 211 million by the end of 2007.”
“The US still held the largest number of users with 153 million, but growth was just 2 per cent, comScore found.
China was second overall with 86.7 million, according to comScore, but growth was 20 per cent. The figure is lower than the official Chinese estimate of 137 million, which includes users in cybercafes and other public locations.
The strongest growth was seen in India, where the number of users increased 33 per cent to 21.1 million. That placed India with the eighth largest internet population, just behind France.”
“A worldwide economic boom has yielded a record number of dollar billionaires in the past year, according to Forbes.
Their number rose by 15% to 793 with India taking the lead in Asia
India's 23 billionaires have a combined net worth of $99bn, surpassing former Asian leader Japan's 27 billionaires with their total worth of $67bn”
We have just started. The world is just waking up to the potential called India. Its all in the sats.
Comments