India’s Economy Is Strengthening May It Now Emerge From Poverty

India is so large and diverse it is hard to classify it. India is, as you will no doubt know, the name given to the vast peninsula which the continent of Asia throws out to the south of the magnificent mountain ranges that stretch in a curve across the southern border of Tibet. Shaped like an irregular quadrilateral, this large expanse of territory, so richly deserves the name of a subcontinent.

Government controls on domestic investment have been largely abolished in the last 10 years, and since then it has been agreed that the public sector should wherever possible stay out of any endeavor that could be accomplished by private firms.

This has now led to a sense of optimism in which many view India as perhaps now still only in the initial stages of a long boom that could extend over several decades. However, India remains as a country with a vast army of unemployed. Many families depend on just one earning member for sustenance and survival.

We have seen other countries in the region go down the same road and eventually emerge out of mass poverty at the end of it. August, 2007, saw the 60th anniversary of Indian independence, so it is still a young nation.

The sub continent has always been, through history a land of brave and chivalrous rulers who patronized arts and architecture and had a real knack for rewarding the deserving people. There are many forts and palaces around the land that demonstrate this, and if you visit them they will open up a whole new range of experiences of the local culture, and a respect for old Indian traditions.

Unfortunately, India is generally not cost-competitive with China for low-tech manufacturing work such as producing toys and household goods, because resources of india labor and transit costs are higher. However, high-tech manufacturers are diversifying to India for other reasons.

India is also poised to play a major role in the large-scale commercialization of renewable energy technologies and can offer technology transfer to other industrializing nations. The country has achieved installation of over 10,000 megawatts of renewable-based capacity. India has been said by some experts to be short on natural gas, and that is expected to last only until 2012.