Discussion Board- Indias economy post
You are on my preferred list. This assignment is to provide feedback to 2 students based on their response to the assignment. I will include the original assignment as reference with video as well as resources. The responses will be posted below. Each response have to be at least 250 words.
This is the original assignment below. Based on this assignment the students provided feedback and interpretation on the video. The instructor wants us to provide feedback on good points and take aways from their views.
My opinion is that India can continue to increase economic growth. I agree with Dr. Ahluwalia in that India needs to continue to work on improving the system of democracy. For instance, the need for policies that will hold politicians voted into power accountable for their actions and responsibilities (Ahluwalia, 2009; Moran, Harris, & Moran, 2007). Continuing to set policies with a proven record of performance will also boost public buy-in and increase private sector investments (Ahluwalia, 2009; Kala & Zhong, 2015).
CNBC is already referring to India as the “darling of investors” (Kissi, 2016). As India’s economy continues to develop the country will become more involved with outside interests. For instance, as the U.S. raises its interest rates, foreign investors may pull out of the U.S. to invest in India’s growing economy, lower interest rates, and less strict foreign investment regulations. However, the resulting impact could go two ways. If the U.S. is unable to successfully manage its own economy and loses foreign investors to India the result will be an additional downturn in the U.S economy as well as layoffs for the average worker.
On the other hand, if the U.S. and India continue to work on relations between the two counties the U.S. stands to benefit from India’s improving economy. For instance, trade between India and the U.S. quadrupled in 2010. In addition, the number of investors from India are growing faster than any other foreign investors in the U.S. The U.S. and India also mirror each other in industries such as medicine and technology. It would stand to reason that the U.S. would benefit from continued improvement in relations with India to promote stability well as collaborating to create additional opportunities for growth in the global marketplace (Luthra, 2011).
Ahluwalia, M. S. (2009, September 9). MIT Lecture: Toward India 2020 challenges and opportunities [Video file]. Retrieved from https://video.mit.edu/watch/toward-india-2020-challenges-and-opportunities-9497/
Ahluwalia provides an achievable per capita growth example in an effort to not be too modest or overreaching. I found it interesting that if the goals were achieved it would classify India as a high income country by 2040 (Ahluwalia, 2009). What I find most important in his speech is that he provides specific goals. Often times individuals/leaders are hesitant to provide even a working number as not to be held liable if the plan doesn’t succeed or an economists’ forecast is wide ranged. Ahluwalia (2009) is taking a stand as an educated global leader.
Yet, much of this is dependent upon, “…the kind of reforms across the board that different shade of government can undertake in this [time] period” (Bhubaneswar, 2012). The government at a local and global level will influence the outcome. Ahluwalia (2009) noted that the increase per capita’s growth rate is somewhat dependent upon continued population growth (less population growth then the plan will take longer). India is already the second most populated country in the world (United States Census Bureau, 2016). I foresee an indirect effect from the continued increase in population such as available land/space per person, job availability, etc.
Those who learn from and/or are involved in this process could share their knowledge an assist other countries in similar situations to provide hope and growth. If this would occur it is one of very few examples globally and an opportunity to help other countries to rise above as well (Ahluwalia, 2009). Inspriation leads to action!
Unfortunately, Ahluwalia (2009) lacks providing specific programming examples on how his suggested growth can be met outside of the government taking action more quickly, making choices, continued private/public investment and overcoming the short term monetary costs involved. Ultimately, India is a developing country with much potential.
Instructor wants supporting feedback and views from their writing as a reviewer.