Why india is not a rich country
- 1. Why India is not a rich country Chintan A. Joshi
- 2. Introduction • After 1991 - economic liberalization • 2nd Largest work force • Multinational companies providing good job opportunities • Service sector provides employment to 23% of the work force • Outsourcing
- 3. Introduction cont… • Large money flow from Developed countries like america-europe • Purchasing power increase • Market covered by multinational companies – Large productions – Good quality – Latest innovations
- 4. Introduction cont… • Bigger economy • More import-export After 2010 • Global recession • Costumers prefers foreign goods • Import rate exceeds export rate • Oil consumption($)
- 5. Petroleum usage of India Price in million $ 100,000 90,000 80,000 70,000 60,000 50,000 Price in million $ 40,000 30,000 20,000 10,000 0 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 (P)
- 6. Problem • Gives us salary (10%) and takes the Profit(>50%) • Spent our money to their countries • Lead to devaluing of rupees • Collapse of Indian economy
- 7. Solution • Good R&D facilities – Same quality goods – Less import required • Apply more taxes on foreign goods • Start multinational companies • Encourage local companies • Change our mentality
- 8. America, Europe Asia
- 9. Thank You