India and the current Economic crisis.

I think the time has come for India to take on the mantle of economic Superpower. Yes it does sound strange given the current economic downturn but if we care to look beyond this phase I see a paradigm shift in distribution and centering of world economic power. Its a shake up and when the dust settles I am convinced it would be India and China which shine brightly. Let me just elaborate why I think so, we are a -- shall I say an insulated economy to a great extent and that will ensure that the impact on us is limited. But what I consider an even more important factor is our disciplined human resource skill set, the unique feature being the ability of our people to adapt, to perform. While it is true that  fears have brought down demand it is also true that we have enough regulatory options with the government to be able to pump in liquidity and revive the demand and growth. It will take a while and yes there are going to be changes. Like we wiil have to accept the fact that exports to developed countries will go down bringing down the inflow of foreign currency. Therefore we will have to look at ways and sectors where in we have unfulfilled demand in our own country and cater to them. A reallocation of resources in required by the businesses and by the government. Infact at the cost of sounding optimistic I would even say there could br cash flows to us from other countries because of the human resources we make available----- less costly and highly effiecient. And we will have to give up the obsession of finding jobs in the West.Well I think the time has come to learn Chinese!!! At this time we essentially need to look forward , take stock of our situation, collective and individual and make the requisite changes. All of us who wait for their sector to be hit before assessing the facts and taking corrective measures will be the real sufferers of this crisis.

Now let me come to the post crisis World and India. Undoubtedly India will emerge out of it as a country with better growth rate and less battered than the advanced countries and I have no worry on this count. But what really worries me is  whether we are geared up for that situation. Are we investing enough in building the nation. I mean the infrastructure, the roads, power, water, safety and security. This is where we need to focus now. Pump in money to build us up. Because the time is soon going to come when we will have the role of economic leader but do we want to be in a situation to don it like a majesty or have it thrust upon us , is what we need to decide.