Indian Economy: Growth -3

[sai_k]

http://finance.yahoo.com/news/Kneale-Are...7.html?x=0 One big and often overlooked factor driving that infrastructure boom is India, long the forgotten sibling at the dinner table at a time when everyone wants to talk more about China. Yet India has a real chance of eclipsing China, building a bigger middle class and a far more entrepreneurial culture. Investors may be overlooking this long-term prospect.India expects to spent $1 trillion on buildings, roads and housing in the next five years. Cell phone service is down to a penny a minute, and Bharti Airtel, with 135 million wireless customers in India, is signing up 20 million newcomers every month, says the carrier's CEO, Rajan Bharti Mittal, who attended the Yale confab.India has an estimated 50 million entrepreneurs, and all of them own their own companies. That compares with a few million in China, where multinationals dominate and the government seems to own a stake in almost everything, says Amit Mitra, secretary general of FICCI (the Federation of Indian Chambers of Commerce and Industry).Almost 90% of all tech exported by China, and 56% of all exported products (not just tech), is made by multinational corporations, Mitra says. By contrast, only 2% or 3% of India's exported products is made by corporate titans; tiny companies provide the vast majority of the nation's output.

The question is, do we want to continue on this model or go for a 50-50 approach.. in the sense, have more participation from our villages and towns following the china model? Of course, if we can beat the chinese with our current mode, then nothing like it.