The ascendency of India as an economic world power

These days, everyone in India seems to be excited with the idea of continuous high economic growth. India has not yet been able to get same economic growth like China but still, India is growing fast and continuously. So, there is every reason to be excited about it. Some people even think that India can continue high economic growth for some time to come. In fact, Indian Finance Minister P. Chidambaram shares this opinion.

AFP wrote:

"The biggest challenge (for maintaining India's growth) is to keep investment growing," Chidambaram told the India Economic Summit organised by the World Economic Forum in New Delhi.

"We can keep this (high) growth continuing for the next 10, 15, 20 years" as long as investment remains robust which, he said, was "perfectly achievable."

India's economy has logged average annual 8.6 percent growth for the past four years and the government is targeting "close to nine percent" expansion this year.

This sounds exciting but the sad part is that India may not accomplish some Millennium Development Goals. You know that United Nations came up with the idea of Millennium Development Goals in the first place.

The Hindu wrote:

Finance Minister P. Chidambaram on Sunday declared that India might fail to achieve some of the Millennium Development Goals set by the United Nations but it was in the world’s interest that the country achieved these objectives.

In his luncheon address at the India Economic Summit here, he said: “We have fallen behind in some of the Millennium Development Goals. ... While it is possible to meet some of the goals, some others may take another three to four years.”

This does not sound exciting to me at all. Indian government must take the Millennium Development Goals more seriously. India has 60 Million Child Labors and millions of malnourished children. India also has millions of uneducated and unemployed and illiterate poor people.

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