Indian Prospects for the Tiger Economy of 21st Century

Abstract

This paper attempts to unravel the historical place of pride of Indian exports and the present sorry state of affairs. India's performance on several indicators as reported by a multitude of international agencies also presents a grim picture. Our unenviable track record in terms of conviction for reforms, weak Infrastructure and lack of patent protection are some of the areas where India does not present a very good picture. The only areas where there could be any hope are – marketing the Indian educational system abroad, exploiting space, oceans and tourism. Some of the Indian private companies such as Ranbaxy and Sundaram Fasteners are going global, the other Indian companies should take a leaf out of this example. At the same time a few questions need to be fully answered such as: 1. Could there be an emotional backlash against globalisation? 2. Are unilateral sanctions under WTO still possible? 3. The pitfalls of globalisation.