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Emerging economic challenges in India

Though the Finance Minister of India under the candid guidance of Manmohan Singh still predicts the growth rate of five percent, certain news headlines have indeed drawn the attention of several experts of Business and Finance.

TCS, the largest software exporters have announced their limit of 25,000 through campus recruitment. The inquisitive may find it interesting to note that TCS maintained the same figure in the last year, which is abysmally lower than the year 2011 – 2012.

Similarly, Apple has sliced down their production of iphone 5c models. Apple is going to launch the latest iPhones in the Indian Market in the month of November, 2013.

Has our country India been able to convince the International marketers about our bright growth rate?

The experts may find synergies in these two apparently innocent news headlines as neither depict healthy economic conditions of the country India. Of course, the macroeconomic challenges have played pivotal roles in influencing such decisions of the two business magnets.

Brushing asides controversies, we have to accept that the talent of Dr. Manmohan Singh in facing such economic challenges. His drastic steps in Nineties are still revered as that could change the face of Indian economics at the international level. Even when Dr. Singh outlined the globalization approach in 2004, hardly anyone took it with a pinch of salt. Rather, even his noblest critics had admired his superior concepts and relied on his traits to pursue policies to save the country from the global economic meltdown.

The same Dr. Manmohan Singh has today certainly raised eyebrows of even international stalwarts due to his almost stoic mentality in such a state where his personal caliber could change the essence of the economic condition of the country.

Does he still believe that the evolving global economies leave enormous scope for our progress? Does he still espouse his own model that might help the country to leapfrog? Couldn’t his brilliance open up the door of leapfrogging development processes even by defying some of our cherished traditions? Is he still convinced about the epitome of global economies? What works on the backdrop of his volt face? Is it the political compulsion or the vote face that has triggered off such a crux?

The global economics has rather cast a debilitating impact on the Indian economy and some of the Government policies have fueled its disaster. Alas! The competent Prime Minister had remained as a silent spectator and almost did nothing to save the country from the wrath of the downfall. We know that India has got a booming market and all the International ballplayers try to focus in Indian markets.

Why should Apple adopt such a drastic decision on the eve of launching new iPhones in India? Can we blame the people who could capture the imagination of India’s leadership role in Global economy when many countries of the contemporary world have become debt ridden? Why does TCS have to stick to its last year recruitment figures? India does not lack intelligent human resources and their potential has been proved globally. Why should the campus recruitment be so less?

It should also be noted that Matter has decided to invest in seven budding companies, where none of Indian companies could be enlisted. Had the global economies been so paralyzed could the world evidence such a huge investment?

Unfortunately the fact of life remains that the global investors have slapped a ban on Indian companies, where every day the news headlines reveal that one or the other has been hurling abuses on the Government.

Corrigenda: Furthering our worries regarding the prevailing economic status of India, it is reported that HSBC has decided to close down the Retail Broking and Depository units in India

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