Excerpts from an article in today's Age (via Jhansi):
"IS AUSTRALIA missing the boat on India? While we are excited by China, are we also aware that old bureaucratic India, old cultural India, staid old India with the legacy of the caste system is actually taking off?"
"Consider these "big-five" indicators of just how far and how fast "good old India" is going:
Å°Wipro has acquired Sweden-based Hydoauto Group AB for $US31 million($A41.1 million).
Å°India is easing bank regulations so that the Reserve Bank of India will open more of the large power projects to external investors.
Å°The global ACNeilsen Consumer Confidence Survey has India at the top of the list by a large margin.
Å°In three years there will be 1.1 million people each with a liquid wealth of $US100,000. There are now 83,000 millionaires in India and growing.
Å° The private equity market attracted $US2.2 billion last year and is set to reach $US7 billion in 2010, the year of the New Delhi Commonwealth Games."
The report also says "Bill Gates has replaced Mahatma Gandhi as the "greatest hero" among the younger generation of India's corporate executives and business students ".
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