India-China pact to dominate global economy 'in decade'

sydneybusinessreview.com ^ | Apr 14, 2004

[Destro]

India-China pact to dominate global economy 'in decade'

India was now building an economic alliance with China that would dominate the global economy and world trade by the year 2014, according to Glen Robinson from the Australia India Business Council.

He warned exporters and businesspeople not to leave their moves into India too late. Robinson was speaking to leading businesses who got a glimpse of the burgeoning opportunities in India's new economy at a joint presentation of the Parramatta based Asia Business Connection - Western Sydney and the Australia-India Business Council.

Madhusudan Ganapathi, Consul General of India in Sydney and a cricket fan, stressed That nuclear war between India and Pakistan was remote with India's economy growing at over 8% a year, 450 million Indians in the middle class and 54% under 25 years. India had a new sense of self-confidence that was reflected even in cricket! By 2050 India would be the third largest economy after China and the US.

Ganapathi said: "There are multiple opportunities for Australian businesses today as the result of structural reforms with growth rates that now overshadow other Asian economies.

"India now has a population of almost 1 billion people with half of these under the age of 25 with increasingly higher levels of disposable income."

Manufacturing, health services, IT, engineering, building, film and television, construction and financial services are among the top industry opportunities on the Indian sub-continent.

Rohit Manchanda, business development manager for Austrade's office in Mumbai, advised Australian companies looking to break into the Indian market to form partnerships with local companies on the sub-continent.

"That approach will make it easier for Australian companies and their executives to get established in what is a very big and complex economy."

For more information contact Asia Business Connection Ph. 9867 2788 or check www.wsbc. org.au.

FRONT: Glen Robinson (Asean Focus Group)

ABOVE: Michael Hilliard, president of the Asia Business Connection, Pranab Dasgupta (Elecon Engineering Australia), Glen Robinson (Asean Focus Group) and M. Singh Baveja (Austbee International Trading). They were attending the Asia Business Connection & Australia India Business Council briefing on India - Opportunities for Australian Business.

ABOVE (BELOW): Manoj Sahare and Don Cleaton (Batchen) with M Ganapathi (Consul General of India).

[Fitzcarraldo]

And they will need oil to drive this powerhouse.

[TBP]

Tewo corrupt, anti-American satrapies that pretend to heate each other. Now they get together to help each other put the screws to America. Why the heck do we deal with these countires?

[Destro]

Indonesia.

[Betaille]

Economic Relationships are formed from the botton-up, not top-down. The US and China have an economic relationship because of millions of individual economic decisions are made by the people and businessmen of each country to buy, sell, or participate in the other.
As for India becoming the 3rd largest economy in 2050... it is ABSOLUTLEY IMPOSSIBLE to predict a national economy more than 40 years into the future. Nobody knows what the Economic policies and Security situation will be at that time in India. This is a load of crap

[Happy2BMe]

"India-China pact to dominate global economy 'in decade'

I've heard of speaking "Mex-Lish," but "Chi-Mex-Lish" will take longer to get used to.

[Happy2BMe]

Where does Islam figure into this picture?

[neutrino]

If anything, the article is too cautious in its predictions. Take a look at the CIA world factbook rankings: here

[hedgetrimmer]

Defense Minister of China General Cao Gangchuan gestures during his visit aboard Indian warship INS Delhi in Bombay March 28, 2004. The general, who arrived in India on Saturday, is on a four-day official visit to the country. REUTERS/Punit Paranjpe

What kind of pact do you think it is?

[hedgetrimmer]

Indian Defence Minister George Fernandes (R) walks with his Chinese counterpart General Cao Gangchuan during a welcoming ceremony in New Delhi March 29, 2004. India and China will look for ways to promote military relations and bury distrust during the first visit by a Chinese defence minister in a decade this week, officials said on Sunday. Gangchuan, who arrived in India on Saturday, is on a four-day official visit to the country. REUTERS/B Mathur

More than trade is on the table here.

[Happy2BMe]

I've said for 20 years China would ally with India.

We'll be sucking hind udder sideways.

[Happy2BMe]

[KAUAIBOUND]

They will need to acquire technology from the innovator countries, in particular the United States, because they are incapable of inventing anything. When was the last time you heard of a Chinese or Indian invention? The Chinese had to bribe the Clintons to get missile guidance tech. India, according to John Stossel's book, "Give Me a Break", is a nightmare for a start-up business, taking years and thousands of dollars. The lack of freedom in China and bureaucratic restrictions in India will prevent China and India from being much more than copy-cat manufacturers or outsourcing economies. Also Communism (China) and Socialism (India) have never been known to create prosperity. On the other hand, if China becomes a true democracy, and India relaxes its anti-business regulations....

[rogueleader]

We'll just sic the Arabs on 'em.

[oceanview]

inventions come from the economies where the engineers are employed. once US corporate execs finish shipping the software, IT, seminconductor, and manufacturing to India and China, who will be left in the US to be the "innovators"? The lawyers? Our enrollment in engineering schools is plumetting, law school enrollment is skyrocketing.

your comments are rearward looking, not forward looking.

[jolie560]

This dynamic is amazing.

An Indo-China dominating world markets takes the pressure off the US, and makes Indo-China the NEW target of Islam.

Good.

[m18436572]

Why?

The worlds second largest uranium deposits are just next door.

http://www.antenna.nl/wise/uranium/umaps.html

[ETERNAL WARMING]

A decade? I doubt it. I think it will be much sooner. And the US of A will be just another mediocre nation with high poverty rates.

[IGNATIUS]

law school enrollment is skyrocketing

Let's begin by outsourcing top corporate exec's, all the attorneys, most bankers, beancounters, and financial analysts. Then increase jobs, pay, prestige, and financial incentives for those Americans who can graduate from engineering schools.

[Destro]

When was the last time you heard of a Chinese or Indian invention?

Middle Ages?

The West has only ruled the world for the last 3-4 centuries - not that long in terms of the histories of India and China - who invented a lot and are major contributors to civilization and the advancement of mankind (technology wise at least).

The West only dominated the world because of how they used Indian and Chinese inventions.