Changing Scales in India

Infosys took 23 years to reach a turnover of a billion dollars — the second billion took only 23 months
In 2003, there was 40 million sq ft of commercial space in India’s big cities — now the industry is adding 40 million sq ft each year
In 1991, there were 5 million telephone connections — 5 million new connections are added a month now
In the first decade of opening up the skies, 5 new aircrafts were added — now there are 5 being added a month
Steel exports were $18 billion in 1991 — the same figure is exported in less than 2 months

A board meeting of an Indian banking giant is gloomy because the annual business has grown by 36% only!!

Sustainable? Enablers? Constraints?

Since 1991, the size of the Indian middle class has increased 6.5 times.
India is one the youngest countries in the world contributing to a very young work force. Being a service oriented economy – this is crucial.
Do the skill sets of this work force match with the requirements of the market? – the big question!
If India can manage a growth rate of 7-8% with its current abysmal physical infrstructure, can you imagine what good infrastructure could do to the economy.
Increasing wages could pose challenges. But then, aren’t wages of these skills across the globe increasing too? If both continue to increase at their current rates, some estimates put 2050 as the year when the wages will meet.

References:

Muses of the Gleep