beijingwalker
ELITE MEMBER
- Joined
- Nov 4, 2011
- Messages
- 65,195
- Reaction score
- -55
- Country
- Location
A decade ago almost all Indians claimed that India was far ahead of China in IT industry, but look at their position now today comparing to China's, this is how fast they developed.I don't care about GDP number. GDP is easy to be manipulated. The real big economic power must have some commodities that are competitive in international market. Producing less competitive goods that are only sold in domestic market won't strengthen a countries economic power(e.g Soviet Union). Compared to GDP number, I care more about a countries' export.
No matter how big India's GDP is, India doesn't have any product competitive in international market. We barely see anything made in India.
India sees sharp decline in IT sector's ability to fund trade deficit
A relatively slower growth in IT Services exports has made India ever more dependent on capital inflows and workers remittances to fund its trade and the overall current account deficit
www.business-standard.com