India - Perspectives

India – Perspectives Anbarasu D. Joseph, Visiting Scholar, Department of Finance, Banking and Insurance, Appalachian St t U State University, i it B Boone, NC. NC

Diversity y •

28 States and 7 Union Territories

•

Capital: New Delhi

•

Major Cities: Delhi Delhi, Mumbai Mumbai, Calcutta, Chennai, Hyderabad

•

Population approximately 1.2 billion billi Multi-party democracy with a bi-cameral legislature

•

• •

70% rural Hindi, English and 21 other languages and more than 1600 dialects spoken. spoken

Diversity y • • • • • • • •

Religion – a Trump card Caste – Silent Killer Language – English Ethnolingual groupings – Many countries within Anglo-Indians Tribals – Loosing identitites Chi Chinese/Parsee/Tibetans ib Religious Diversity: 80% are Hindus along with 130 million illi Muslims M li and d smaller numbers of Christians, Sikhs, Jains, Buddhists Parsis, Buddhists, Parsis Bahai’s, Bahai’s Jews, and other religions

Population p • India is projected to be the most populous country in the h world ld by b 2030 • India occupies 2.4% of the world’s land mass and supports 15% of the world world’s s population PREDICTED POPULATIONS, 2050 • 1 - India, 1,628m (2) • 2 - China, 1,437m (1) 3 • 3 - United States,, 420m (3) ( ) • 4 - Indonesia, 308m (4) • 5 - Nigeria, 307m (9) Source: PRB (2004 position in brackets)

Economy y • Agricultural societies i ti vs. Industrial Societies • Rural poverty • Urban poverty • The Th poor on the th streets • The history of technology transfer

Economic Growth in India – 7.5% to 8% Series 1

Manufacturing Trade Communication

10%

16%

7%

Agriculture

6%

14%

8%

Construction RealEstate

8%

11% 10%

10%

Banking & Insurance T Transport t by b other th means Other services Rest

GDP g growth in 2008 - 2009 • A strong 7.5% growth recorded as against very strong (as they predict) 9%. • Sectoral Growth • Manufacturing sector grew by nearly 10% in 20082009 as against g 9.4% g growth in 2007 - 2008 • Agriculture, which accounts for nearly a quarter of the GDP, has grown by a healthy 2.6% in 2007 2008. It is expected to be same in the current year • Construction growth has been in double digits in each of the last 4 years. g • INDIA can now aim towards a nominal growth rate of 12 percent.

SPECIAL ECONOMIC ZONES • Government creates Special Economic Zones (SEZs) as vehicles of Industrialization and employment generation • SEZs currently provide employment to more than 280,000 people • Projected exports from SEZs: Rs. 1.25 billion this year

Why y India? They y said……. •

India is now truly a land of opportunity - John Redwood Economic Competitive Policy Group, UK

•

IIndia di h has evolved l d iinto t one off the th world's ld' leading technology centers t Craig Barrett, Intel Corporation

•

I have never seen India so dynamic, vibrant and full of business pp - Peter Loescher,, President and chief executive Siemens opportunities

•

By 2032, India will be among the three largest economies in the world BRIC report, Goldman Sachs

•

We came to India for the costs, stayed for the quality and are now investing f innovation for i i - Dan D Scheinman, S h i CISCO System S IInc. as told ld to Business B i Week, W k August 2005 India is a developed country as far as intellectual capital is concerned - Jeck Welch, General Electric

• •

The Indian market has two core advantages - an increasing presence of multinationals and an upswing in the IT exports - Travyn Rahll, ACNieisen

•

IIndia di iis a very exciting iti market k t and d the h lluxury car segment iis growing i exponentially here - Mr. Paul de Voijs, Managing Director Volvo Car India

Women’s Rights g • All agricultural societies are oppressive to women • Dowry as a social issue • Communities of prostitutes • Muslim M li women vs Hindu women y vs • Education: Boys Girls Ladli — which in Indian languages (Hindi and Urdu) means ‘beloved d ht ’ daughter.’

Child Welfare Issues • Child labor • Children Child as beggars • Underground U d d criminals and children • Children as prostitutes • Children as day laborers

Seven-year-old Salaj Mohammed Kasim weeps during a police raid on a Mumbai (Bombay) embroidery workshop on March 4, 2004. Many children are worried about the financial implications of the October 10, 2006, law banning some forms of child labor in India. The 80 rupees (about U.S. $2) that a child working in the city may make in a day can be crucial to the survival of the family back home.

Community y and Social development p • Rural community deve op e t development • Tagore and Gandhi – others • From F 1920’ 1920’s • By 1960’s CD movement is strong • Absence of a civic participation tradition • Emergence of a peasant democracy

A New Class System y • Emergence of social class l in i the th cities iti driven by modest industrialization • A vast new middle class and consequent market

Mall Culture in India •

• •

•

The younger and older generation alike prefer buying stuff from huge malls where one not only get variety, but quality too at moderate prices. Organized retail growing at estimated ti t d 25% . Whooping Rs. 1,31,804 crore has been invested in organized retailing in last 6 months alone. (Assocham) Companies like Reliance Retail have set aside Rs.2400 million for setting g up p hyper yp marts by y 2010-11 in National Capital Region; Spencer retail announced capex of Rs.300 million for expanding its retail outlet and setting g up p hyper yp marts by 2010

Film Making: a Lucrative Business

• Slumdog Millionaire

IT – transforming India

Cricket : lifeline of current Indian sporting scene

Religion, caste, and Politics

Natural disasters and India’s response

Villagers wade through flood waters in Madhepura District in India's Bihar state, where about two million people are displaced or stranded after the Kosi river burst its banks banks, breached safety embankments and submerged roads leading to the region. (Aftab Alam Siddiqui/Associated Press)

Art and Architecture

Movies