India Passes China to Become Fastest-Growing Economy - 2015 trends // Proof of India's rise again...

India Passes China to Become Fastest-Growing Economy
Wall Street Journal (blog) - Feb 11, 2015
Everyone from the World Bank to Goldman Sachs had predicted it wouldn't happen for another two years but recent recalculations indicate that India has already dethroned China as the world's fastest-growing big economy. Late Monday, India's statistics ...

India fastest growing economy
The Hindu - Feb 9, 2015
The overall economic situation in the country is looking better and the basic parameters of the Indian economy are moving in the right direction, Union Finance Minister Arun Jaitley said ahead of the release of the advanced estimates by CSO. “India's growth ... 

Methodology change sees Indian economy grow faster than China's
Reuters - Feb 9, 2015
The International Monetary Fund (IMF) last month also predicted India would overtake China next year as the fastest growing major economy with 6.5 percent annual growth compared with 6.3 percent for China. However, listless corporate spending and ... 

It's Official: India is World's Fastest-Growing Big Economy
NDTV - Feb 9, 2015
India on Monday forecast that annual economic growth would accelerate to 7.4 per cent in the year ending in March after its statisticians changed the way they measure Asia's third-largest economy. The new estimate is sharply higher than the Reserve Bank of ...

India to grow at 7.4%, outpacing China to become world's fastest growing economy
Daily News & Analysis - Feb 9, 2015
Indian economy will grow by 7.4% this fiscal, outpacing China to become the world's fastest growing economy, after a revision in the method of calculations. Aided by a 7.5% expansion during October- December, Asia's third-largest economy will this fiscal see ...

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India will Rise Again...

It is now common knowledge , that :
In 1750, China owned 33% of the global GDP and India, 24.5 %. In the same year, the combined share of Britain and the United States was a mere 2%.

A subsequent analysis found that India had the largest economy in the world for 1,700 of the past 2,000 years.

Very recently in 2014 news came out, that China's GDP (PPP) has overtaken the US economy to become the largest economy in the world.

It is now only a matter of time that India also catches up.

How & Why?

India's current population as per the World Bank report is 1.252 billion (2013)
Is just a whisker shy of China's.
China's population is about 1.357 billion (2013)

1. With the current population growth trends In the next 15- 20 years, India will surpass China to become the most populous country in the world.

2. India has the advantage of a younger population, a vibrant democracy and high level of grass roots penetration of English as the official second language.

3. India's private Gold holdings are estimated to be about 20,000 tonnes. This is either worn by the ladies in the form of jewelery, or in the possession of temples (God's Gold) or locked up in safety deposit boxes.
This huge amount is sufficient to wipe out all of of India's National Debt, plus leave aside sufficient to help grow the economy for the coming decades.

Indian households have piled up as much as 20,000 tonnes of gold, worth $1.16 trillion, an historic high.
Indians hoard 20k tonnes gold worth record $1.16 trn - Financial Express
url : http://archive.financialexpress.com/news/indians-hoard-20k-tonnes-gold-worth-record-1.16-trn/1037761

These factors will combine to catapult India as the second largest economy after China (PPP) in the next 15- 20 years.

It not far out in the future in about 40-50 years, that we may live to see the day that India over takes even China to become the largest economy.
The title "Soone ki Chidia" (the golden bird) may not be a far fetched dream after all.

Best regards.
Rahul Vashisht 

Quote : Turn your face towards the sun and the shadows fall behind you.

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Obama's trip to my homeland: Proof of India's rise again - CNN
http://edition.cnn.com/2015/01/23/world/obama-india-trip-personal-essay/

......"I recently read a story in a Indian news magazine that mentioned a 1983 study of the world economy that created quite a stir among Western economists. The study said that in 1750, China owned 33% of the global GDP and India, 24.5 %. In the same year, the combined share of Britain and the United States was a mere 2%.

A subsequent analysis found that India had the largest economy in the world for 1,700 of the past 2,000 years.

So to call India an emerging power is silly. If anything, my homeland is re-emerging as the global power it once was.

India, of course, has a way to go to catch China, although it has already outranked Japan as the third largest economy.

OPINION: "Why 2015 will be a defining year for India"

Economic historian Robert Fogel has predicted that by 2040, the Chinese economy will reach $123 trillion. That's three times the economic output of the entire globe and quite staggering when you consider that China was considered a poor country in 2000.

Fogel thinks China's per capita income will hit $85,000, more than double the forecast for the European Union. China's GDP at 40% will dwarf America's 14%.

But some economists think that India has a chance to leap over China in about 50 years. The most recent World Bank forecast says growth in India is likely to outdo China's.

Granted, it's a prediction that has been made before and India has disappointed. But now with Modi in the driver's seat, many experts are hopeful that India can resolve problems of political stasis and take off like it was supposed to have done a decade ago.

India, says Rossow, is destined to become another pole of power."......

.... "India is a large country that will be population-wise, in the next 20 years, probably surpassing China," says Rossow. "Economy-wise, it'll be a rival and growing quite heavily."

.......I recently spoke with Hall about why he is going on the State Department-sponsored trip.

"The geopolitics of the world and its economic focus has shifted and it will continue to shift East," Hall told me. "India is a very significant player."

.... He says he is impressed by the burgeoning middle class in India and by the fact that India is rooted in democracy, unlike China.

India has the advantage of leapfrogging its development, says Hall. Indians are innovating above and beyond what was normal in the West and they have the advantage of learning from mistakes made by developed nations.

"They have a chance to address education, poverty and heath care in a wholesale way," says Hall. "Whichever emerging superpower brings its people along the best will be the most dynamic. The human element is what people always leave out."

Obama, says Hall, has every reason to reach out to Modi, a man who began as a "chai wallah" -- a tea seller -- and became prime minister of India.

That, after all, is the American dream realized in the land of my birth"......
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from Refugees to Moguls / Story of the Indian diaspora / India Conquers the World

Hello Friends,
Recently I've been traveling across continents, to my native land India. As a keen observer, I've been noticing subtle changes in demographic trends across the world.

Young Indian families are traveling further across the world and are encouraged by their extended families to take the plunge and seek fortunes in distant lands.
This is a growing trend and a cultural phenomena in the northern Indian Province of Punjab and the southern province of Kerala, Where the local economy has been totally changed by the influx of billions of dollars of expatriate money inflows over the decades.
Young people in these provinces are fixed at the idea of gaining those important skills and then quickly moving out, encourages by a network of their extended families, friends, who have successfully established themselves before.

Facts and figures :
Official figures of Indian diaspora are 25 million,  however unofficial figures of about  40 million worldwide, who claim to be either first generation immigrants or people who can have Indian ancestry.

Please find the time to read the article below.

Best regards.
Rahul Vashisht

On Wikipedia  : http://en.m.wikipedia.org/wiki/Non-resident_Indian_and_person_of_Indian_origin
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India Conquers the World - Newsweek Magazine
After a long eclipse, an ancient country finally returns as a force in global business and culture.
url : http://www.newsweek.com/indias-most-important-exports-brains-and-talent-68395

.....from refugees to moguls embodies a worldwide phenomenon: the growing size and sway of the Indian diaspora.
The exile population now numbers some 40 million people, spread across West Africa, the Americas, and East Asia. And in many of those countries—including the United States, Britain, Canada, Singapore, and Australia—Indian immigrants and their offspring have both higher incomes and higher education levels than the general population.

The international importance of India itself is rising to an extent unmatched since the onset of the European-dominated global economy in the 17th century. And with the country’s economy growing at roughly 8 percent a year for the past decade—more than double the rate of the United States—India’s influence can only continue to strengthen. Most economists predict that by 2025 the country will outstrip Japan to become the world’s third-largest economy.

India is more dynamic than any other major country in dem-o-graph-ic terms as well. Its population today is 1.21 billion, second only to China’s 1.3 billion, and thanks to the latter’s one-child policy, India’s numbers are expected to surpass those of China by the late ’20s, when India will have an estimated 1.4 billion people versus China’s 1.39 billion. Currently home to the world’s second-largest contingent of English speakers, India seems destined to step into first place, ahead of the United States, by 2020.

But the mother country’s rise has been more than equaled by that of India’s émigrés. In fact, the diaspora remains one of India’s most important sources of foreign capital. According to the most recent available figures, workers from India in 2009 sent $49 billion in remittances to relatives back home, outpacing China by $2 billion and Mexico by $4 billion. Four percent of India’s gross domestic product comes from North American remittances alone.

In fact, India’s business community tends to be family--centered, both at home and abroad. Chinese entrepreneurs are more than twice as likely to be financed through banks, most of them state-owned. In contrast, Indian firms and business networks tend to be essentially familial and tribal, extending in networks across the world. “Much of the Indian middle class has ties outside India,” notes researcher Vastala Pant, formerly with the Nielsen office in Mumbai. “Our ties around the world are also family ties.”

The importance of such familial links can be seen in the close relationship between diaspora settlement and commerce. The top five areas for Indian investment—Mauritius, the Americas, Singapore, the United Arab Emirates, and the U.K.—have large, established Indian communities and -Indian-run companies that are particularly active in electronics and software.

Today, even the largest Indian firms, such as Tata and the Reliance Group, are controlled by groups of relatives whose power is enhanced by their wide geographic reach. “We’re very flexible about doing business,” notes Lalvani, who was raised in Britain, is a permanent resident of Hong Kong, and is married to an Indian-American. “We’re global and cosmopolitan—ethnically Indian but also tied to the U.S., U.K., and Hong Kong. They’re all things that make me who I am, and make our business work.”
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The Indian diaspora began when Indian workers fanned out across the British Empire during the late 18th century. The exodus intensified after Britain abolished slavery in 1834, setting off a major demand for labor around the globe. Indians were sent out to become contract laborers on Malaya’s rubber plantations, or to work as indentured serv-ants in the West Indies. Although many eventually returned home, others stayed in their new countries, and in many -cases became integral parts of the national economy. Some rose to skilled positions in the colonial civil service and military, while others became businessmen, teachers, doctors, and moneylenders.

Even after the empire’s end, émigrés kept pouring out of India to seek better lives abroad—and with them they brought brains and a willingness to work hard. In the United States, where the Indian diaspora represents less than 1 percent of the population, its members account for roughly 13 percent of the graduate students at the country’s top universities. Overall, 67 percent of people of Indian descent living in America hold at least a bachelor’s degree, compared with 28 percent of the total population. And those statistics are echoed elsewhere in the world. In Canada, people of Indian descent are twice as likely to hold graduate or professional degrees. In Britain, some 40 percent of the medical students and doctors in the National Health Service are of Indian, Pakistani, or Bangladeshi origin.

Indians’ presence in the business realm is no less nota-ble than in the world of higher learning. According to the latest survey by the University of Essex, the per capita income of ethnic Indians in Britain is about £15,860 (nearly $26,000), higher than that of any other ethnic group in the country and almost 10 percent above the median nation-al income. The study found that the unemployment rate among ethnic Indians is close to half the national average. In the United States, recently published data estimate average household income at $50,000, but it’s $90,000 for ethnic Indians—and a 2007 survey found that between 1995 and 2005, more companies were launched by ethnic Indians than by immigrants from Britain, China, Japan, and Taiwan combined.

The expatriates have brought their culture with them—and that too is spreading into the general population wherever they go. Two million Brits enjoy at least one Indian meal per week, and onscreen entertainment from India has permeated the global market. Not so long ago, Bollywood movies were largely intended for domestic consumption, but foreign sales have become significant in recent years, with the large markets in the dominant diaspora countries. Today, Bollywood movies and television shows command an estimated $3 billion to $4 billion in overseas receipts, placing India’s film industry second only to Hollywood itself. In fact, India beats the rest of the world in the number of movies made and tickets sold, and industry sources estimate that as many as a third of ticket buyers in the West are non-Indians.
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