India- Its Brobdingnagian Dimensions

India - A Super Power???

India being a developing country with enormus potential impressed many welathy naitions world wide. It impressed many leaders and officials from United States , France, Germany , Russia and made them spot India's Rise.

The Indian economy has grown an average of around 6% annually over the past decade and 8% per year over the past three years—among the fastest rates in the world. It boasts an emerging middle class and increasing gross domestic product, exports, employment and foreign investment.

India’s growth becomes more impressive in light of the fact that it is driven by a fraction of its population.

Despite the problems seen in India’s underdeveloped countryside—for example, massive unmet infrastructure needs; more illiterate citizens than any other single nation—there are several areas in which the nation excels. These particular specialized talents have allowed a tiny percentage of the populace—perhaps less than 1%—to spearhead its move toward a higher standing in the world order.

Between East and West:

With its newfound power, India faces a dilemma: Should it ultimately pursue closer ties with Western nations, or with other Asian countries?

After India gained independence, its first prime minister spoke of an Asian renaissance, envisioning a tightly bound continent changing the post-World War II landscape. Though premature at the time, the idea is now more feasible than any time since the Cold War era. Along with the improving relations with China, India is also friendly with Russia and Japan. And, as of 2004, the value of India’s trade with other Asian nations surpassed that of exchange with the United States and Western Europe put together (International Herald Tribune).

A Turning Point in Relations With China?

Many have compared India’s pattern of growth to its neighbor, China. The countries have much in common—physical borders, immense populations, similar challenges, ancient civilizations, and quickly-rising economies. India also measures itself against China, coveting its economic power and international standing, including its permanent seat on the United Nations Security Council.

Though a degree of tension does remain between the two nations, with lingering memories of the brief 1962 war in which China soundly defeated India, the relationship between these two Asian giants is warming up. Trade between them is now increasing at a vigorous pace, and diplomatic relations are at a post-1962 highpoint.

India - Trade

• Tata motors paid $118 million to buy Daewoo commercial vehicle company of Korea
  
• Ranbaxy the largest Indian pharmaceutical company gets 70% of its 1 billion revenue from overseas operations and 40% from USA
  
• Tata tea has bought Tetley Tea of UK for 260million pounds
  
• India is one of the largest diamond cutting and polishing centers in the world. Its exports worth $6 billion in the year of 1999
  
• Countries foreign exchange reserves stand all the time high for $120 billion
  
• India’s trade with china grew by 104% in 2002
  
• walmart sources $1 billion worth of goods are from India.half of its apparel is from India
• GAP sources about $600 million hilfiger and $100 million worth aapparel from India

India - Self Reliance

• India is among the six countries in the world that launched satellites and does so for even Germany, Belgium, south Korea, Singapore and EU countries
  
• India’s INSAT is among the world’s largest democratic satellite communication system
  India’s Geosynchronous Satellite launch vehicle (GSLV) was indigenously was manufactured with most of the components like motor cases, heat shield, cryogenic engine , electronic modules all manufactured by public and private Indian industries
  
• India is among the 3 countries in the world that built their own supercomputers. The other 2 being USA and Japan
• India’s new ‘Param padma’ terascale supercomputer is also amongst only 4 nations in the world to have this capacity.

posted by Likhitha @ 5:29 AM