Shiva's India: Memo from Mumbai and Delhi, November 2011
Article
An IPPR delegation including Lord Peter Mandelson and IPPR director Nick Pearce visited Mumbai and Delhi from 16 to 22 November 2011, as part of our Future of Globalisation project. Will Straw reports on the experiences and findings of the visit.
At the end of a year described by one government source as India's 'annus horribilis', we heard two views of the country's prospects. The first, primarily articulated by business leaders and journalists, sees more doom and gloom ahead. The principal problem is the paralysis at the heart of government, which shows no sign of letting up. A second set of concerns centres on the make-up of India's economy and the potential for a looming jobs crisis. Finally, there are concerns that India's development has not kept pace with its growth.
A more optimistic view of India's future was presented to us by a series of politicians and bankers, many of whom blamed much of the current malaise on the depressed global economy. A number of reforms are taking place, for example on skills and broadband access. In relation to development, India's rural employment scheme was identified as a success by a number of people we met, and the government was also praised for its approach to urbanisation.
There is little doubt that Britain stands to gain from India's rise, but British firms need to do all they can to enter Indian markets, since the country will not wait for the west.
Related items
Taken to heart: Inequalities in heart disease in Scotland
More than 7.6 million people across the UK live with cardiovascular disease (CVD), around twice as many as live with Alzheimer’s disease and cancer combined.Skills passports: An essential part of a fair transition
This month, government will publish its Clean Energy Workforce Strategy. This plan covers two aims. First, filling the growing demand for skills in clean energy industries is essential to keep on track to reach the government’s clean power…Fixing the leak: How to end the £22 billion annual taxpayer losses at the Bank of England
The Bank of England increased its interest rates over recent years, aimed at reducing inflation. But this has also had an unintended effect on the Bank of England’s massive government bond buying – ‘quantitative easing’ – programme.