Star Winder
Whilst I must agree with much of your analysis about the state of India currently, you cannot take away that, many of these problems exist in a number of Developed countries worlwide, but that's for another thread.
Getting back to the matter of a strong economy, a number of economists have shown through various resarch along with the World Bank that India's exponential growth rate is strong and secure.
Some economists caution that if the service sector bypasses the industrial sector, economic growth can be distorted. It is true that, in India, the service sector's contribution in GDP has sharply risen and that of industry has fallen. But, there are other economists who argue that India's service has grown NOT BECAUSE the industrial sector has slowed down. Rather, they say, India's industrial sector has indeed grown steadily,and three times between 1993-94($238864) and 1998-99($1112206), industry surpassed the growth rate of GDP. Thus, the service sector has grown at a higher rate than industry,though industry too has grown. The rise of the service sector therefore does not distort the economy..
The fact that the service sector now accounts for more than half the GDP probably marks a watershed in the evolution of the Indian economy, and its projected worldwide growth rate.....mate.
All the best
HPC
