...countries: Brazil, Russia, India and China. According to Wikipedia BRIC (Brazil, Russia, India, and China) is a coalition of regional and superpowers reportedly proposed by Russian President Vladimir Putin. Predictions & Projections: Economists argued that, given sound political decision-making and good luck, the BRIC economies together could become larger than those of the world’s six most developed countries in less than 40 years. i.e BRIC economies of Brazil, Russia, India and China together would be larger than G6 (G7 excluding Canada) in USD in less than 40 years. Of the current G6, only the US and Japan may be among the six largest economies in US dollar terms in 2050. It is projected that the Brics to account for close to 40 per cent of global GDP by 2050 and to have become four of the world’s top five economies. It is projected that the Brics’ rise in absolute terms will push them up to the top of the global leaderboard, in per capita GDP their performance will not be quite so impressive. Reasons why India will rise: 1) Manufacturing productivity will drive growth. It’s performance will improve due to globalisation and increased competition. 2) India’s economic reforms are the reasons for this astounding predicted growth. India’s “increased openness to trade, investment in information and communication technology, and greater financial deepening.” Some more important points from the point of view of BRIC: 1) Growth for BRIC countries will slow at the end...
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...initiated in the early 1990s that saw the country focus on the East Asia and Pacific regions as an economic framework for expanding ties and promoting economic growth. With the new expanded strategic vision – “Look East” policy 2, India has broadened the definition of its security interest in its strategic economic endeavors. It is generally seen that India’s partnership with ASEAN have had an impact on India’s economic, political, and security related involvement ‘in these larger, concentric coalitions around ASEAN…in East Asia and in the Asian Pacific’ (Gujral, 1996, p. 12). The look east policy has integrated a larger regionalization framework and strategy encompassing the Asia Pacific issues (Scott, 2007). WE ARE TECHNOLOGY THESIS EXPERTS! ORDER NOW! WWW.UKESSAYHUB.COM The Indians-ASEAN links do not only have economic frameworks but strategic underpinnings as well. As Scot (2007) has indicated, china has been a factor in all of the India’s initiatives albeit blurred in economic progressions. Some analysts have argued that the growing Chinese economic and military influence in Asia has been the anchorage on the basis of which the strategic molding of ‘look East Policy’ was structured. India’s continued influence has therefore been viewed as providing ‘a balance’ to Chinas growing influence in the region. India’s aspiration to be a major global power is indisputable. For many years, India took pride in its role as leader of...
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...three decades, India has made good progress on the human development index (HDI), says the Human Development Report 2013, released by the United Nations Development Programme (UNDP). However, India’s rank out of 187 countries is no better than last year’s. With a HDI value of 0.554 and a rank of 136 among 187 countries, which it shares with Equatorial Guinea, India is placed in the “medium development” category. There has been steady improvement in its HDI value, which was 0.345 in 1980. In 1950, Brazil, China and India together represented 10 per cent of the world economy, while the six traditional economic leaders of the North accounted for more than half. According to projections in the report, by 2050, Brazil, China and India will together account for 40 per cent of global output, far surpassing the projected combined production of today’s Group of Seven bloc. | | | HDI is a composite statistic of life expectancy, education, and income indices used to rank countries in four tiers of human development. Since 2011, the UNDP report has included an inequality adjusted HDI, also known as IHDI, which attempts to include the effects of inequality on human development. The IHDI for India this year is 0.392. High gender inequality The country fails miserably on the front of gender equality. On the gender equality index, with a value of 0.610, India has one of the worst indicators in the medium human development category. For example, the country has only 10.9 per cent...
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...Economic Growth: Comparison of Australia, USA and India Subject: HI5003 Economics for Business Submitted by: Anju Kattel Panta OLI2392 Binu Pokhrel Neupane EMV2704 Harpreet Kaur PCC2409 Rachel Chomapoy BRI2029 Khadijah Iftaqar BSI2129 Shama Shrestha EMV2816 Wangyang Wei ANY2083 Date: 6 June, 2014 Introduction to Economic Growth In this report, the economic growth of Australia, USA and India is discussed. Economic growth is key factor to economic development. People of the nation are benefited when national income grows. The is no any scientific method of formula to measure the economic growth whereas the data, charts and other information can be helpful for strategy-makers to understand the countries’ economic positions and design a framework to guide for an effort toward development. Data are the artefacts covering measures of economic growth, such as gross domestic product (GDP) and gross national income (GNI). They also have pointers representing elements known to be appropriate to economic growth, such as capital stock, employment, investment, savings, consumption, government spending, imports, and exports (The World Bank, 2014). GDP is considered to be one of the basic indicators that assess a country’s economy growth. According to The statistics Portal (2014) GDP is defined as market value goods and services produced by using the resources and capital of the country in provided span of time irrespective of nationality. Normally, it is calculated...
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...Seventh Edition INTERNATIONALEDITION INTERNATIONAL MANAGEMENT MANAGINGACROSSBORDERS AND CULTURES TEXTANDCASES Helen Deresky Professor Emerita, State University of New York-Plattsburgh Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo PART OUTLINE Chapter 1 Assessing the Environment—Political, Economic, Legal, Technological Chapter 2 Managing Interdependence: Social Responsibility and Ethics Assessing the Environment Political, Economic, Legal, Technological Outline Opening Profile: Economic Crisis Spreads Through Financial Globalization The Global Business Environment Globalization Globality and Emerging Markets Effects of Institutions on Global Trade Effects of Globalization on Corporations Regional Trading Blocs The European Union (EU) Asia Comparative Management in Focus: China's Economy Keeps on Chugging. The Americas Other Regions in the World The Russian Federation The Middle East Developing Economies The African Union The Globalization of Human Capital The Global Manager's Role The Political and Economic Environment Political Risk Political Risk Assessment Managing Political Risk Managing Terrorism Risk Economic Risk The Legal Environment Contract Law Other Regulatory Issues The Technological Environment Global E-Business Conclusion Summary of Key Points...
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...crisis. The need for a policy shift had become evident much earlier, as many countries in east Asia achieved high growth and poverty reduction through policies that emphasized greater export orientation and encouragement of the private sector. India took some steps in this direction in the 1980s, but it was not until 1991 that the government signaled a systemic shift to a more open economy with greater reliance upon market forces, a larger role for the private sector including foreign investment, and a restructuring of the role of government. India’s economic performance in the postreform period has many positive features. The average growth rate in the ten-year period from 1992–1993 to 2001–2002 was around 6.0 percent, as shown in Table 1, which puts India among the fastest growing developing countries in the 1990s. This growth record is only slightly better than the annual average of 5.7 percent in the 1980s, but it can be argued that the 1980s growth was unsustainable, fuelled by a buildup of external debt that culminated in the crisis of 1991. In sharp contrast, growth in the 1990s was accompanied by remarkable external stability despite the east Asian crisis. Poverty also declined significantly in the postreform period and at a faster rate than in the 1980s, according to some studies (as Ravallion and Datt discuss in this issue). However, the ten-year average growth performance hides the fact that while the economy grew at an impressive 6.7 percent in the first five years after...
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...RAISONI GROUP OF INSTITUTIONS G H RAISONI COLLEGE OF ENGINEERING National Conference on Business & Economics Conference Theme : Financial Management Topic : The Drivers of Indian Economy Presented By Shashwati Bhowmick Sr. Faculty (Retail Management) Footwear Design & Development Institute Chhindwara (M.P) Abstract Economic growth and development is the key to the growth and development of the nation. There are various factors, attributes which drives the economic growth. This paper studied about roles played by drivers of economy. The result focuses on the need, importance , implementation and management of these drivers by the government to ensure sustained economic growth and development of India. Introduction Economy is...
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... The need for a policy shift had become evident much earlier, as many countries in east Asia achieved high growth and poverty reduction through policies which emphasized greater export orientation and encouragement of the private sector. India took some steps in this direction in the 1980s, but it was not until 1991 that the government signaled a systemic shift to a more open economy with greater reliance upon market forces, a larger role for the private sector including foreign investment, and a restructuring of the role of government. India’s economic performance in the post-reforms period has many positive features. The average growth rate in the ten year period from 1992-93 to 2001-02 was around 6.0 percent, as shown in Table 1, which puts India among the fastest growing developing countries in the 1990s. This growth record is only slightly better than the annual average of 5.7 percent in the 1980s, but it can be argued that the 1980s growth was unsustainable, fuelled by a buildup of external debt which culminated in the crisis of 1991. In sharp contrast, growth in the 1990s was accompanied by remarkable external stability despite the east Asian crisis. Poverty also declined significantly in the post-reform period, and at a faster rate than in the 1980s according to some studies (as Ravallion and Datt discuss in this issue). However, the ten-year average growth performance hides the fact that while the economy grew at an impressive 6.7 percent in the first five years...
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... The need for a policy shift had become evident much earlier, as many countries in east Asia achieved high growth and poverty reduction through policies which emphasized greater export orientation and encouragement of the private sector. India took some steps in this direction in the 1980s, but it was not until 1991 that the government signaled a systemic shift to a more open economy with greater reliance upon market forces, a larger role for the private sector including foreign investment, and a restructuring of the role of government. India’s economic performance in the post-reforms period has many positive features. The average growth rate in the ten year period from 1992-93 to 2001-02 was around 6.0 percent, as shown in Table 1, which puts India among the fastest growing developing countries in the 1990s. This growth record is only slightly better than the annual average of 5.7 percent in the 1980s, but it can be argued that the 1980s growth was unsustainable, fuelled by a buildup of external debt which culminated in the crisis of 1991. In sharp contrast, growth in the 1990s was accompanied by remarkable external stability despite the east Asian crisis. Poverty also declined significantly in the post-reform period, and at a faster rate than in the 1980s according to some studies (as Ravallion and Datt discuss in this issue). However, the ten-year average growth performance hides the fact that while the economy grew at an impressive 6.7 percent in the first five years...
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... Dhaka January 8, 2002 Mr. Chairman, Ladies and Gentlemen: It is a great pleasure for me to return to Bangladesh after nearly 15 years and to have this opportunity to speak at the Bangladesh Economic Association. I last visited this beautiful country in 1986 as a member of an economic advisory team working on tax reforms. I have followed your country’s significant achievements since the early 1980s: a steady pace of economic growth, strong increases in primary education enrollment and girls’ education, striking reductions in fertility and infant mortality rates, widespread immunization, success in exports of ready-made garments, increases in food production, improvements in disaster preparedness and flood relief, and the emergence of an impressive NGO system and grassroots strengths. These are achievements that many observers would have thought impossible three decades ago, when some were sufficiently foolish as to refer to Bangladesh as a “basket case.” The aggregate statistics on growth and poverty illustrate this progress. As you know, the growth rate of GDP per capita accelerated steadily, from less than 1% a year in the 1970s to 1.8% in the 1980s and above 3% in the 1990s. By the 1990s, Bangladesh’s I am grateful to Shahrokh Fardoust and Halsey Rogers for their contributions to the preparation and writing of the speech. I am also grateful for substantive inputs or comments received from David Dollar, Steven Knack, Eric Bell, Sadiq Ahmed, Fred Temple, Kapil Kapoor, Syed...
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...imposed a ban on the manufacture and sale of Coca-Cola products in the region. Coca-Cola then arranged to have its drinks tested in a British lab, and the report found that the amount of pesticides found in Pepsi and Coca-Cola drinks was harmless to the body. Coca-Cola then ran numerous ads to regain consumers’ confidence in its products and brand. However, these efforts did not satisfy the environmental groups or the minister of health. India’s Changing Marketplace During the 1960s and 1970s, India’s economy faced many challenges, growing only an average of 3–3.5 percent per year. Numerous obstacles hindered foreign companies from investing in India, and many restrictions on eco-nomic activity caused huge difficulties for Indian firms and a lack of interest among foreign investors. For many years the government had problems with implementing reform and overcoming bureaucratic and political divi-sions. Business activity has traditionally been undervalued in India; leisure is typically given more value than work. Stemming from India’s colonial legacy, Indians are highly suspicious of foreign investors. Indeed, there have been a few well-publicized disputes between the Indian government and foreign investors. More recently, however, many Western companies are finding an easier time doing...
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...crisis. The need for a policy shift had become evident much earlier, as many countries in east Asia achieved high growth and poverty reduction through policies which emphasized greater export orientation and encouragement of the private sector. India took some steps in this direction in the 1980s, but it was not until 1991 that the government signaled a systemic shift to a more open economy with greater reliance upon market forces, a larger role for the private sector including foreign investment, and a restructuring of the role of government. India’s economic performance in the post-reforms period has many positive features. The average growth rate in the ten year period from 1992-93 to 2001-02 was around 6.0 percent, as shown in Table 1, which puts India among the fastest growing developing countries in the 1990s. This growth record is only slightly better than the annual average of 5.7 percent in the 1980s, but it can be argued that the 1980s growth was unsustainable, fuelled by a buildup of external debt which culminated in the crisis of 1991. In sharp contrast, growth in the 1990s was accompanied by remarkable external stability despite the east Asian crisis. Poverty also declined significantly in the post-reform period, and at a faster rate than in the 1980s according to some studies (as Ravallion and Datt discuss in this issue). However, the ten-year average growth performance hides the fact that while the economy grew at an impressive 6.7 percent in the first five years after...
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... Manas Bhattacharya*, IES (Deputy Director General (Finance), Department of Telecommunications, Ministry of Communications & IT, Government of India) Introduction The purpose of this paper is to construct a vision of Indian telecom sector for the year 2020, i.e., about two decades from now. Development being a continuous process, the choice of the year 2020 is just an arbitrary division of time, a pre-defined time horizon to take stock of what is likely to be achieved. Pre-portrayal of a stage of development in future requires understanding of the process of change, the dynamics that set law of motion. In attempting to do so, the present paper deciphers the recent past. Process of change is often volatile and responsive to intervention and global circumstances impacting it. In such an inherently dynamic situation it is convenient to assume that cross-country experiences incubate the most recent seeds of change. This is because countries at various stages of development encapsulate developmental experiences that occur with the passage of time. The present paper isolates the agents of change based on international experiences and situates India in this development continuum. The agents of change, as observed from international perspective, have been broadly categorized into economic structure, competition policy and technology. Economic reforms and liberalization have driven telecom sector through several transmission channels of which these three categories...
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...and a break with India's post-independence development. Its main objective is to restore sustained high growth to alleviate poverty and raise the standard of living. Development of Thought: Changes in the policy packages towards deregulation, liberalization and opening up of the economy were initiated in the late 70s and early 80s but it was not until 1991 that major economic reforms were undertaken. The major changes in India's economic reforms fall broadly under five heads-industrial, trade, financial, fiscal and monetary. However these measures of stabilization are not by themselves enough. The main impetus for sustainable economic growth has to originate with efficiency and productivity growth brought about through the expansion of investment and exports. Another important aspect to be considered is the large number of people in the country living on the poverty line. To make any reform process socially acceptable a poverty alleviation programme must be in. In the context of resource constraints, a serious thinking has to be done as to the extent and pace of economic reforms. Conclusion: India has to go through a painful period of adjustment before the liberalization can have its fruitful impact upon the economy. In liberalizing the economy the government must not forget to protect the poor and the needs of human development. The present bout of economic reforms in India-those started in the nineties- marks both continuity and a break with India's post-independence...
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...BIBLIOGRAPHIC INFORMATION Title Source Author 1 Author 2 Author 3 Publication/Conference Edition Document Type CPI Primary Subject CPI Secondary Subject Geographic Terms How Local Companies Keep Multinationals at Bay Harvard Business Review Online Bhattacharya, Arindam K. Michael, David C. NA Harvard Business Review, March 2008 NA Article Economics International Trade; ; ; Malaysia; Others Abstract To win in the world’s fastest-growing markets, transnational giants have to compete with increasingly sophisticated homegrown champions. It isn’t easy. Centre for Policy Initiatives (CPI) Pusat Initiatif Polisi http://www.cpiasia.org How Local Companies Keep Multinationals at Bay http://harvardbusinessonline.hbsp.harvard.edu.neptune.wou.edu.my/hb... ADVERTISEMENT Arindam K. Bhattacharya (bhattacharya.arindam@bcg.com) is a Delhi-based partner and managing director, and David C. Michael (michael.david@bcg.com) is a Beijing-based senior partner and managing director, of the Boston Consulting Group. FEATURE How Local Companies Keep Multinationals at Bay To win in the world’s fastest-growing markets, transnational giants have to compete with increasingly sophisticated homegrown champions. It isn’t easy. by Arindam K. Bhattacharya and David C. Michael Since the late 1970s, governments on every continent have allowed the winds of global competition to blow through their economies. As policy makers have lowered tariff barriers and permitted foreign investments...
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