ARE MNC’S SUPERIOR TO INDIAN COMPANIES?
It’s highly likely that India would have become a mature economy by 2050. As all developed countries have a stagnant economy, Indian economy also have started to become stagnant showing signs of a ‘developed’ country. India is the leading target for all IIT service industries. The service industries are expected to show an exponential growth in the coming ten years. Today, services contributes more than 50% towards the total GDP. However, the manufacturing segment has failed to see a familiar growth. Our Prime Minister Narendra Modi’s ‘Make In India’ initiative has been launched with the objective of improving our manufacturing industry.There are many issues that adversely affects the country’s economy. And one of the major issues is corruption. Corruption not only held the economy back from reaching new heights, but rampant corruption has stunted India’s development. India is lacking behind as majority of India still lives in villages. And when it comes to development, one size doesn’t fit all. The mindset of people living in rural areas are very backward and are scared to adopt changes. This backwardness has given rise to illiteracy in the villages. Many schemes like ‘Saakshar Bharat’, ‘Sarva Siksha Abhiyan’, ‘Mid Day Meal’, etc are launched to educate the children of the villages. ‘Beti Bachao, Beti Padhao’ has also been launched by the government. The purpose of this scheme was generating awareness as well as improving the efficiency of welfare services for women and girl child in the Indian society.The former president, Dr. A.P.J Abdul Kalam always believed that India would become a super power by 2020. Though it seems highly improbable after seeing the current major issues that India is facing. The steps and initiatives that the present Government is taking to develop the Indian economy may turn India a fully developed nation by 2050. Thus, an optimistic view of emerging India as a fully developed not only a superpower nation but also a wholesome development in the fields of health, education, business, urban and special emphasis on rural development with poverty free, slum free, high employment opportunity are the thoughts and dreams that every Indian might be seeing. With the efforts of all Indians, surely a proud India as a prosperous, happy and overly developed nation will be seen in 2050.