India to overtake United States by 2050: Report

[solid snake]

Hey, good for India if it happens. Progress in India means automatic progress for Pakistan simply because of proximity.

 

[solid snake]

this is the predicted 2050 GDP
http://www2.goldmansachs.com/hkchina/insight/research/pdf/BRICs_3_12-1-05.pdf
india is no where close to US
everything is possible though

According to that document, the income/capita for the US will climb to around $90,000. But I guess when you take inflation into account, there won't be much of a change in national wealth.

Pakistan and India are pretty low on the technology index for some reason. Vietnam is performing shockingly well recently, so the prosperous future predicted for them is quite believeable. Korea is off the hook, can't praise them enough. Turkey is going great too.

But I think its silly to make predictions that far off into the future. There are far too many factors that a report such as this cannot take into account.

 

[A.Rahman]

First they need to step into 21 century; by eliminating poverty;hunger;child-sex rings;Insurgencies.. etc.

 

[Adux]

First they need to step into 21 century; by eliminating poverty;hunger;child-sex rings;Insurgencies.. etc.

You eliminate poverty and create conducive climate for job creation and make law enforcement effective and strict, you can be sure 90% of the problems facing a country will be solved.

 

[A.Rahman]

You eliminate poverty and create conducive climate for job creation and make law enforcement effective and strict, you can be sure 90% of the problems facing a country will be solved.

Of course India has passed all the laws & bills; but whats the point if they cant be implemented? or what they can do to improve the situation.

 

[Adux]

Of course India has passed all the laws & bills; but whats the point if they cant be implemented? or what they can do to improve the situation.

Implementation is the biggest problem facing India, It is easier and more productive to take a bribe while you are at a government job, cuz it is worth the risk of losing your job. Unless the Indian Government attains more cash, by which they can increase their payscale, where by a job is more valuable than taking a bribe. This is going to take some more time. I would say atleast 15 yrs. More number of courts to candle all those pending cases. Most abuses are reported and cases filed, but it lays in the red tape for years. Justice Delayed is Justice Denied.

 

[MirBadshah]

I think this thread started a bit late here, on Indian forums, they are strictly disowning this statement as it have created a lots of embaressment.

GS wanted to get the permission to operate in India and they got it, these predictions are always figure work of some "Babu's" sitting in NY and calculating.

the ground situations in developing countries change too quick and results can go exectly opposite.

But west is getting a lots of money from India after projecting this dream.........lol, typical business guys.

 

[Adux]

Mir,

That is the most defeatist statement, West intends to make lots of money in India; thats why they invested and they risked their money in a differnet country; Why else would some one invest other than to make money

We are getting our share of the pie, We are quite happy and we making money...So roll on brother. Goldman Sachs reported quite a bit of nice stuff about pakistan, guess they are telling that since President Bush called CEO of Goldman Sachs personally, to say nice things about Pakistan so as to keep them in War on Terror on their own citizens..

Conspiracy theories galore over here

 

[Adux]

What are the ground siutation which change the economic indicators so quickly.... Would seriously love to hear your point of view in this.

 

[SMC]

Oh??? Tell me something new that you guys come up with? Like is India now going to become a SUPER SUPER POWER instead of JUST of a super power?

 

[MirBadshah]

No doubt India and actually all the BRIC ( Brazil, Russia, India and China) are emerging super economies. India is a long way off catching Japan. One has to asume that US will stand still for India to catch it.

Well, if the happy marriage of new relations go on, can not US do this little thing for a new friend...................lol

 

[Bushroda]

these predictions are always figure work of some "Babu's" sitting in NY and calculating.

Jim O'Neil isn't just some babu in NY office. At this moment, he is topmost paid economist in this world. The future course of business trend is defined by these reports. And no financial firm would risk its credibility in the market by printing Bogus report to boost some people's ego & make some quick buck with their hogwash.

 

[MirBadshah]

Yes you are right, but I wonder how many top firms in US got fined for manipulation and how many top economists got notices from SEC in 2006. As you seem to be good in finance, please let us know wether GS was fined in last year by SEC or not?

 

[Bushroda]

I am not into finance but I do understand the market dynamics. Manipulations could be limited upto individual clients. Business is often not very honestly practiced. But, this report is Gs' research paper. The failure would leave their research credibility in tanturns. Also, any research paper isn't validated unless there is a convergence in general attitude towards the subject considering the high volatality in world market. So, if many nations have subscribed to Goldman Sach's BRIC theory then it has to be assumed that it is in general agreement with most of the opinions. So, if India is unable to overtake US by 1950 & falls well short of target then it would mean shortsightedness on the part of major economic research firms unless it is due to some unsubscribed reason like a nuclear fallout with Pak or a major disaster.

 

[Contrarian]

Welcome Bushroda, to PFF.
Post your intro in the 'intro' section