India’s economic growth will top 9 percent: Chidambaram – Hindustan Times
News for us to cheer. Truly the global economic power in the rising. When world over the growth is averaged at 5% real growth, India is shining =)! Let’s hope that we can sustain this growth over the coming years…
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@gurupanguji • Ramblings of an Eccentric Soul 
Dude…all thats well and good. But apparently, the IT industry is going to face a few problems in the coming years acc to IBN. Cuts, lower intake and less salary hikes. So where exactly is this promised ‘growth’ going to come from?
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Well, the IT industry does not contribute to the majority of our GDP does it? Here growth is in terms of business. While the big guns are touting their price cuts and lower intakes owing to business from US, India still has growth to cater to
Infrastructure, Innovation (albeit not necessarily in the IT field), and there are tons of other opportunities as well :P!
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Today I read in the paper that India’s economy is based more on its own infrastructure, etc, rather than the spending on the developed countries.
US spending related income accounts for less than 5% of India’s GDP, while US related income accounts for 25% of the GDP for some other countries in SE Asia.
We can keep this going, but what we need more is the political will to remove all roadblocks standing in the way.
Btw, an investment in.. say..L&T would have grown by 80%, while an investment in… Infy… would have gone down by 30%.
The writing on the wall is quite clear. 🙂
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Yeah well, from what I have perceived of India and this is one of the fundamental reasons as to why I love my country – we always find a way around the systemic limitations imposed on our society. We are true-problem solvers. In fact, this has trickled down to even our IT departments ;-)!! We are heralded as true solution providers aren’t we :P!
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