I am a career banker from 1971. I joined State Bank of India in Hyderabad and had long career of 21 years. I retired voluntarily as Chief Manager in 1993. I took to teaching students at MBA level since 1999. I have seen dramatic changes in last four decades in the banking industry in India. I invite all like minded people in the fraternity to share their views frankly for wider debate of issues.

Monday, November 8, 2010

India among 40 most improved economies: World Bank report

India among 40 most improved economies: World Bank report

I laid my hands yesterday on this news item and had a quick reading. Very interesting and encouraging that the World Bank has been surveying the countries since 2003 and releasing such reports from 2004. This is the eighth such report on the 183 countries all over the world including India. While this caption is encouraging, I feel pained that overall, India has been at no. 135 in 2010 and 134 in 2011 reports in the ranking (with a consolation that we moved up one notch).

Long way to go for the world's second (or first) largest democracy; wanting to be an economic super power with over 9% growth rate; entering the UN Security Council with a permanent seat soon (thanks to Obama) after having initiated reforms about two decades ago. Our neighbours China and Pakistan are at no. 79 and 83 respectively! Its time that Indian politicians, bureaucrats, policy makers / academicians / businessmen and citizen at large to tighten their belts and work for realising all the dreams of being a super power.

If the US President can occupy the coveted no.1 position in the world with an ordinary background (An Afro-American) with a resounding slogan like "Yes, We Can", why not the Indian counter-parts move forward with a united agenda that "Time, we should". The Twenty-first Century generation is eagerly waiting for all-round development in India - be it by Government, Scientists, Corporates, Politicians, etc!!!

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