Can India bail out America and rest of the world from present economic crisis? Part 1
66Who can possibly bail out America and Europe?
Americans, Europeans and people from many other countries are looking for a bail out plan from a savior in this hopeless situation of economic crisis. But where is he? Is there some one at all?
Answer is India. Yes, India can bail out America and rest of the world from economic crisis.
Economic crisis and financial crisis are in alarming state. Cash and credit both are vanishing. Banks are collapsing. Mortgages and student loans are becoming unaffordable. Consumer confidence is melting down. Stock markets are plunging. Production and retail sales are going down. The only thing growing is unemployment. All Tom Dick and Harry are facing financial crisis in America. This is America as of today. Federal student loan consolidation, best consolidation loan student, refinance with bad credit are some of the top search words in Internet nowadays.
Federal student loan consolidation, best consolidation loan student, refinance with bad credit are some of the best paid key words nowadays in Google adwords.
Europe and rest of the world is following America. Downtrend, production cut, credit crisis, plunging stock markets; every thing is coming as a nightmare to the entire globe. Entire world is in financial and economic crisis.
The entire world is looking towards India. President Bush has invited Indian envoy to describe their strategy in the G-20 summit on the 15th of this month.
Boeing business jet
Which of these countries have the ability to bail out the world from economic crisis?
See results without votingIt is worth to have a look at India!
Can you imagine of a single company employing more than 1.5 million people? It is the Indian Railways! Can any one ignore this fact ?
- India is the largest democracy. The constitution of India is the biggest written constitution in the world. Dr. Manmohan Singh, the Indian premier, possesses the maximum academic qualification among chief of the Nations in the globe. He is also a renowned economist. He has plan to bail out the world from global crisis, melt down and recession.
2. It has population over a billion, second highest in the planet. India has more than 250 million (equal to the total population of America) English speaking citizens which are further increasing at the rate of 20 million per year. The fact can surprise you that Hindi, not English is the National language of India. India is also blessed with the highest number of youth and working people.
India also has the highest number of skilled professionals in the world. Indian Institute of Technology are among the bests and corporations all over the world are eying over the graduates of Indian Institute of management. The world can not move without Indian software engineers.
3. India has been a Nuclear-power since 1974. It has exploded again in 1998 to get into the elite N-club. It has been possessing super computers even before the commencement of 21st century.
India is a space power too with a number of satellites moving around the orbit of the earth. It is among the seven countries that could successfully launch a lunar mission. Chandrayan-1 has put India into the elite class of Lunar club. Indian space research organization (ISRO) is now planning for a solar mission "Aditya"
India has successfully countered economic and financial crisis and global economic melt down. The most surprising fact is that Indian government has not declared any bail out plan.
Why not a bail out plan?
Indian government has not yet come out with a bail out plan because India does not need it. India, Indian banking and finance system and Indian industries are capable of facing global economic crisis without a bail out plan.
Kundan Jadau Meena
India: Highest importer of gold
India imports and consumes more than 3000 tons or 95 million ounces of gold every year. It is nearly equal to the consumption of rest of the world.
India produces various kinds of Jewelry including Kundan Jadau Meena Jewelry , specialty of India to consume gold.
4. Mumbai film industry, nick named as Bollywood,produces maximum number of movies in the globe. It is worth to know that there are many other film producing zones in the country e.g. Kolkata, Chennai, Hyderabad etc.
India is cutting and polishing 11 out of every 12 diamonds produced globally. It is the fastest growing market of mobile phones, computers and internet. Sales of two and four wheelers are increasing by leaps and bounce. Housing sector and real estate are predicted to grow by 20 % and Business jet market is to be doubled by the next year.
5. Likes of Mukesh Ambani, Anil Ambani, Ratan Tata, Pradip Mittal, and Kumarmangalam Birla are the bright stars of the Forbes’ list. Still king L.N. Mittal, Chairman, Arcellor–Mittal is of Indian origin too.
Amazed with the facts and figures about India?
Now it is time to know how the potential of India can help America and the world at large to come out from the economic crisis. Continued ....2
Can India bail out America and rest of the world from economic crisis Part-2
Updates: May 7. 2009:
Indian economy was also struck by global recession for some time. However it has started regaining its rhythm. Indian auto sales are up by ten percent on year to year basis. Surprised?
Indian export has gone up by approximately five percent.
Indian stock market has started booming again. BSE Sensex, that had gone down below eight K mark is trading over twelve K. BSE sensex closes today at 12117 mark.
Since December 18, 2008, Dow Jones has fallen by one hundred fifty points but BSE Sensex has gone up by two thousand points during the same period.
Read more in Part 2:
How can India bail out America, Europe and the world from economic crisis Part-2
(This hub is published on 13 November 2008).
Chandrayan-1 of India
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CommentsLoading...
I am quite surprised to read this but if it is right then why don't we use this money for indians?
Possibly we cant.
because in India Rich gets richer& poor gets poorer.
We can't even get our black money back from Swiss banks..
Hi,
I have never read such thought provoking aricle about American and Indian economy. India is growing in rapid pace and has capacity to bailout America.
THANK JYOTHI FOR SUCH A NICE ARTICLE IN ADVANCE COZ US MAY REALISE NOW BY CONSIDERING ALL ABOVE FACTS...THOUGH WE HAVE A POWER ASLO HAVING A WEAKNESS THAT DONT KNOW OUR CAPABILITIES LIKE LORD HANUMAN...OBAMA CAME AND PRAISED US TO KNOW OURSELVES.
ALL IS WELL BUT INDIA RULED BY POLITICIANS MEMBER GAME EVEN GOD CANT PREDICT WHEN, WHY ,WHAT WILL HAPPEN ....
It gladdens me to hear that India is doing so well and that you are the keepers of the worlds largest democracy. India has a great history from many centuries of province rulers to that of being a former British colonial nation to finally independence and democracy with a massive growing economy. I would caution your leaders to remember that you can not buy friendship, only short acquaintances which will change to someone else when the money stops flowing. Could I make everyone save at least 10% of their salary believe me I would do so but in a generation or two you will see that your young people will have the same problems the U.S. does if your economy continues to grow at this rate, your young people will want immediate gratification or want it now so they spend their money as fast as it comes in to buy the newest electronic toys, automobile or whatever happens to be fashionable at any particular time. Poverty is good for a nation or people once in a while, it causes the leaders and people to take a look at what is really important and make adjustments in priorities. Perhaps our nation and leaders will begin to realize that family should take the forefront, the there is nothing wrong with the idea that one should save for the "rainy day" around the corner. Money can not buy friendship, I hope our leadership will soon realize is true, but perhaps not since so many of them seem to be guilty of taking money to maintain their positions as leaders and representatives.
I will not attempt to address the issue of religion other than to say that sometimes tolerance should only be granted to a definite point at which point it goes no farther. When religious intolerance gets to the point which requires one to kill anyone who is not of ones religion or will not convert to that religion then it is time to draw the line and begin to grant those members of that religion their fondest desire to be sent to paradise or heaven.
India has maintained its democracy through out despite its poverty. The country has been coming out of its poverty gradually but in a fast pace.
Thanks for your comment.
India a democracy? No offense but India has its own people sub divided into two classes either rich or dirt poor I've known Indian's whom I've worked with in the past who would attest to that. How can any country that holds down most of its population in poverty be a true Democracy? As to bailing out the world I haven't decided. Good article though even if I find it hard to agree with.
sorry for the late comment but I find it quite funny rather interesting. Why should india be the part of those to help them to get out of this mess? why not spend the money on the welfare of our own people? take a look at the settlements around mumbai, delhi and other metros and you'll know what i'm talking about. Suicide rate of india is also on the hype and that's the thing you've missed while writing this hub. If you'd thought about that, i'm 100% sure you wouldn't have wrote this hub in the way as i and others see it now.
Fantastic Hub, India has definitely weathered the recession well, and i know a lot of companies outsource a huge amount of back end work now, including data inputting and programming. While a lot of these are fairly low paid, it does mean that there is a HUGE influx of money going to India. This is probably one of the reasons why the recession is hitting other countries lower paid workers hard, but I personally think it is great that India is working hard to become an economic power.
While there may still be slums and rife crime in india, I have personally have met few races which equal india in friendliness, respectfulness, and dedication.
Kind of makes me sad that you guys are no longer part of the British empire!
Hi Darshan,
Thanks for comments. President Obama has accepted the fact and it is better for America and Americans to follow the same.
Thanks,
Jyoti Kothari
Hi,
There is no doubt that India has ability to bailout America and rest of the world from economic crisis.
President Obama's recent speech indicates to that direction.
Thanks for such nice article.
Darshan
Hi Jyoti,
I am fan of your articles and always found some thing off beat and interesting in your articles.
This one also has the same thing. India is really really coming up and we are proud of India.
I believe that India can bail out America and rest of the world from economic crisis.
Dear Nathuramka,
Thanks for your comment. Please provide your suggestions as an economist to improve the hub.
Thanks again,
Jyoti Kothari
Jyoti,
What an article. I am an economist and find this article informative and data rich.
Thanks.
Dear jyoti,
I agree with you. India has tremendous potential. Ihave travelled all over world and seen indians working hard everywhere.
They have got opportunities overseas in the past. now they are showing their capabilities in India too.
India can bail out America and rest of the world from economic crisis in near future.
Thanks for a great article.
Kamal
Hi, India has proven its strength to the western world. They proved it in space, cyber space and nuclear energy.
Jyoti Kothari
India has tremendous potential. India is a more natural partner of US than China because its a democracy. President Obama has described India as one of the world leaders in G-20 summit, London, yesterday.
We, western people are now started realizing strength of India.
Mary
Sufi,
Welcome to India!!
You can may come here to visit its tourist spots and also to find tones of business oppurtunity. Would you like to visit my place?
I will be glad to host a tea for you.
Thanks,Jyoti kothari
Never had a problem with the Indian Call centres - the operatives are better qualified than most people. Once India generates the jobs to take advantage of its highly educated workforce, it really will be a powerhouse.
Hope to visit one day!
Dear Pgrundy,
You have rightly commented and directed needle to the right point. i hope India and America can work together to solve global economic crisis.
Thanks for a detailed comment.
Jyoti Kothari
I think India has a lot to teach America, and if only our citizens would quit resenting the loss of jobs to India and take a look at how our own bad habits have contributed to the downfall, that would be a good start. We don't bother to educate our citizens, we waste our young people, and we discourage innovation. So many times I've interrupted people here who were ranting and raving about how much they hate Indian customer service call centers and things they have said (mean things) to show their displeasure, and said, "You know they are up all night to solve your problem, right? You know they are working harder and cheaper and taking constant abuse--why are you dumping on them? Do you want a job working all night in a call center listening to people like you?"
I think we will go through a tough time, but if people here can learn to be decent to each other again and to not expect things to be handed to them just because they want them, it will eventually change. Sometimes you have to have a hard fall to get back up and walk straight. I don't think people here will change until it gets much, much uglier here. They aren't ready yet. They're still hanging on to the illusion of privilege.
Very intersting and informative indeed.
It is indeed true that India can not do it alone but it has the potential of being a part of it. India can play a major role in the same.
whether india can do it alone, my answer will be a certain NO. can India be among the ones who can help them in finding ways, Yes. whether we are at the end of the problem or not determines who can help. if the problem intensifies and prolongs beyond a certain period, it is going to be a global plague.
as per my thinking this is big problem for around the world,
JYOTI KOTHARI Hub Author 3 months ago
Thanks for commenting. All the countries need some foreign currency in reserve. This money builds reputation of a country. This also effects credit rating of the country.
Of course, we need to do a lot to bring our money back from Swiss bank.