India going from strength to strength
When you think of the most successful countries in the world at the present time, two immediately spring to mind – China and India. There has been a lot of press about these countries in recent years and both should be congratulated on their success but it is the success of India, the second most populous country in the world, that stands out the most. This is a country that has come an incredibly long way in a very short space of time and indeed the country is rapidly improving its infrastructure to facilitate this growth.
If you don’t appreciate how rapidly the country is growing it is maybe worth taking some time out to understand that the country now ranks fourth in the world for the number of billionaires, behind the US, China and Germany. The country is creating on average one new billionaire a month and has been doing so since 2010 and 69% of all the billionaires are self-made. The gives you an idea about the levels of skill and entrepreneurship in the country.
India is currently experiencing something of a start-up boom at the present time and this is true across a variety of different sectors. However, one area that is particularly strong in India at the present time is the tech industry and more specifically tech start-up businesses. India is now the third largest globally for tech start-ups with it predicted that there will be 2,100 by 2020. As we all know this is a sector that growing globally so to be ranked third is again a very significant achievement.
It is only when you see the statistics that you start to appreciate how successful the country is. The country has come a long way in a short space of time – something that would maybe have been unimaginable just a couple of decades ago. This is a country that has been so often treated as the poor relation but is now well and truly coming to the fore in its own right. The Indian people’s desire for success and willingness to accept help and advice has certainly helped the country and the number of successful entrepreneurs is further testament to it.
This is a nation that is constantly looking for overseas investment as it views this as a way of expanding rapidly but also maintaining that growth. An area that has benefitted hugely from foreign investment is India’s desire to move away from fossil fuels an indeed the country is looking to be using 60% non-fossil fuels by 2027, exceeding the Paris Climate Agreement targets by 20%. This is very impressive for a country that used to be one of the world’s largest producers of carbon emissions. Moves towards renewable energy can only help the country with its continued growth.
To fully give you an idea about the levels of overseas investment that India is receiving you need look no further than Japan’s Softbank and Taiwanese company Foxconn who are committed to investing $20 billion dollars in India. This when coupled with the fact that energy giant EDF has also committed to investing $2 billion shows the levels of interest. This suggests that there is extremely high confidence in the Indian economy and it can only surely be a matter of time before we are seeing more than one billionaire created a month.
It now appears to India’s turn to challenge some of the traditional economic superpowers. The countries determination to succeed and grow is very commendable and encouraging overseas investment can only be beneficial to all parties. There are several other countries in Asia who would be advised to follow India’s lead and drive forward towards a successful and prosperous future.