> India 2020: 3rd Largest Economy of the world ??

ANP !!! · 12:35 AM

So, 2020 is going to be a very significant year for India. Indian economy is expected to become the third largest in the world. India will be after China and USA that time. So, it is a great news for India and this good news has come from Indian Finance Minister P Chidambaram. So, Indian people have to wait just 13 years and few months to experience this magical feat.

Well, this good news is accompanied by bad news too. By 2020, India may have 211 Million unemployed people. I guess that this figure will make India a country with the largest number of unemployed people in 2020. This prediction has come from TeamLease Services. It ha published a report 'India Labour Report 2006' and there you can see this prediction.

The main problems of Indian economy are:
Millions of people in India are still illiterate.
Most people depend on agriculture for a living.
India has so far failed to emulate the success of China in the manufacturing sector.

According to 'India Labour Report 2006':
"India's working population in 2020 will be equal to India's total population when reforms started in 1991
Projecting current variables forward means 211 million unemployed in 2020; an unemployment rate of 30%
Unemployment will largely be a youth problem; nine out of ten unemployed are likely to be in the 15-29 age bracket"

So, I feel that Indian government should try to tackle the unemployment problem first and then celebrate economic success. Having 211 million of unemployed people is not a good thing for any country. So, Indian economy is growing very fast, so too the number unemployed people.

IndianRaj: India 2020: 3rd Largest Economy vs. 211 Million Unemployed People

CHICAGO, May 31 /PRNewswire/ -- India's economy will surpass Japan's to become the world's third largest economy, behind the United States and China, within 25 years, according to a research report released by William T. Wilson, Ph.D., Chief Economist for Keystone India and one of the leading economists in the United States. Keystone facilitates the flow of trade and investment between the United States and India.

"Demographics and economic reform are driving India's growth," Dr. Wilson says. "With half the population under the age of twenty-five, India will have the youngest labor force in the world, and its population is expected to exceed China's by 2030. India's working age population is expected to grow continuously over the next 40 years. At the same time, China is aging faster than any other country in history, largely due to its one child policy.

India Will Be the World's Third Largest Economy by 2030, Predicts Keystone

Will this be possible, Comments .

Delete this..if its a repost/old news.

dipdude

^ No reason why not, leaving aside any unforeseen occurrence or our super politicians creating a calamity - we can be there.

Nikhil

My take ---- A very pessimistic one (the only time I am like this

...mostly I am an optimist

)....... India doesnt stand a chance to be there in 13 yrs....... the only way we can be there is if some natural calamity (or man made one too.... am not too particular) wipes out all the corrupt politicians of this country.....

And on second thoughts...what do they mean by 3rd largest economy ?? In terms of pure economy, it COULD be possible...simply thanks to the huuuuge popuation of the country.

But TRUE development ?? Where most (it would be foolish to say all) people have 2 square meals a day, the children go to school and get educated and people develop something called CIVIC sense......

I dont think that will happen in our lifetimes.....

chic_magnet

india is developing alright. .and it would def be up there.. but the development seems soo hollow...
the people to whom this development should be a boon, to them this is a farce..
india is developing for the world, but not for itself..
people die here, due to floods in deserts, politicians with criminal records rule over us, when they got no other work they bring up stupid topics to waste our time...
the congress got such an opportunity to annihalate the BJP,, but well if only they could get enough of thier own stupid politics!

ecomics is right.. india might be 3rd.. but really how much has would it have been really developed?

Safin

lets stop comparing us with china for starteres though.
We made a choice to be a democracy. Democratic countries and dictatorship will always be different. You cannot force anyone in democracy(one child policy, do this work even if you don't want to etc) but people enjoy basic human rights.
How do we know whats happening in China. Seeing the people in cities in no indication of development. China's rural life is worse than India's (although i might add that china is doing something about it now and UN has applauded its poverty alleviation methods) but then again there is no free access to confirm that.
As far as manufacturing goes, well they are ahead cos they make people work at cheaper rates. (although i admit they provide the basics like infrastructure, power etc) but lol there are some advantages of communism and lots of disadvantages for the people too. its a choice they made and a choice we made.
Political security is something India will always enjoy.

aElien

i think we might just get there.
and politics and curroption dosen't hinder much, development and stuff are things which are huge. and infact when you hold it down, it will just blast on.

my only fear is population.

I dont understand how Brazil is out of the Equation, last time i checked it was right behind india. they have some really strong policies. they probably rank just after china when it comes to get something done on a national scale. We dont do well there.

My concern also over the quality of educational institutions and teachers in india, which are becoming factories of mediocricity. we need to stress more on research.

params7

Originally Posted by Nikhil

But TRUE development ?? Where most (it would be foolish to say all) people have 2 square meals a day, the children go to school and get educated and people develop something called CIVIC sense......

I dont think that will happen in our lifetimes.....

Couldn't have said the point better.

x86

nikhil its only the population, thats the source. afterall a guy who doesnt wants to use tractors can u indulge him into using that he prefers having old ploug system. its the acceptance to the modern world.
look at a punjabi farmer and a bengali farmer the punjabi is 50 times richer why? simply hes using the cellphone for business hes working hard and moreover hes not making fuss and blockades and processions over a indo-us joint exercise.

no country is that much liberated as you want i to be like everyone having meals and stuffs but yes india will be third developed nation, i think it might surpass china but hey thers the european union

.
we should stop blaming the politicians the central govt is really good this time except the qouta stuff...some state govts are really lousy.
look at kerala 99% literacy and bengal 60% literacy.. gives you the diff.poeples are solely responsible for their sorrounding if they choose to stay in a hut govt has not much to do, we cannot ove with them india has to and have to move on.
all hail mother india.jai hind.