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Ticket to a brave new world:
Globalisation means free cross-border movement of information, goods, services, capital and people. It evokes extreme responses; as for some one, it is a ticket to a brave new world; and for others, it is a short of doom and destruction.
We cannot wish away globalisation. The only realistic option is to manage it in such a way as to maximise the benefit and minimise the costs. For those able and willing to seize the opportunities, and manage globalisation on their own terms, it has provided the basis of unprecedented growth.
More than many other countries, India is in a position to wrest significant gains from globalisation. We should not let go this opportunity.
Ready to move in all corners of the world:
To assume that policies initiated by the government created an environment which facilitated economic uplift and advancement will amount to manipulation of facts and ground realities. In fact, the prescriptions and parameters initiated by the government were in some cases half-backed, ill timed and counter productive.
The foremost factor, which engineered the growth in India, was emergence of a self-reliant middle class equipped with strong knowledge base with technical qualifications. This group pursued innovative businesses requiring managerial and technical skills in the upcoming sectors and other skilled fields.
India opted for services-led growth, which was instantly visible with tangible results. Thus technology was inter-twined with globalisation resulting in a well-qualified mobile work force ready to move in all corners of the world.
The success stories of businesses controlled by NRIs in the western markets established Indian’s reputation as dependable and disciplined businessmen. Respect for rule of law, quick adaptation and absorption capacity of new technologies have created a responsive realisation that India is marching ahead. The entire world took note of unexploited potentials of India in becoming a competitive centre of excellence and cost efficiency.
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