What do you think India actually lacks in terms of economic development?

India has tallented managers who can turn things here and there and make them work. Tallented people who are fastly adaptable. Intelligent and price sensitive market. Value for money. Strong fudamentals.... But GDP is d**n low and many things are actually hampering economy. If you know answer please give it.

Asked By: Water - 5/26/2008
Best Answer - Chosen by Asker
Endemic corruption in many states - The legal correction process in India proper is catastrophically slow, taking years and sometimes upwards of a decade for some cases to complete the trial process. In an era of near instantaneous decision making a 18th century judicial and legislative model - doesn't really work... More
Answered By: Mark T - 5/26/2008
Additional Answers (9)
I've wondered this myself. Heck, my country exports a lot of high skilled job to you guys because you DO have many talented people (especially in the IT industry) who work hard for very little money. I think your country's problem is overpopulation. If the birth rate was reduced, all your people would have a much... More
Answered By: T - 5/26/2008
very simple. good polticians who can take a decision and stick to it. the government changes policy every six months or even earlier and thats why the investers loose confidence in this country. what we need is a stable government ( with out any coalition ) and very few changes in policies re foreign investments... More
Answered By: delta - 5/26/2008
hey india doesnt actually lack economic development.jus verify the development rate.the thing is that people cant run along with the price hikes and inflation has increased.for a devoloped economy {instead of the currunt developing economy} cost of living should increase.but that cant happen onlywhen people become... More
Answered By: curious - 5/26/2008
When lot of decisions are depend up on our politicians..... n the way its influenced by power n corruption....we get stuck out there..., i think we need to improve on that part....!
Answered By: savage_love777 - 5/26/2008
India's problem is... More
Answered By: Alby - 5/26/2008
The fundamental economic principle is too many demands and too few goods. production is less but demands are more. That's why Gross Domestic Produce is less. Added to that are inflated markets, inequal economic distribution, no capital formation and so on. In order to achive economic development... More
Answered By: rsudarsanlic - 5/26/2008
proper channelisation is the problem. bribery is another problem
Answered By: chincha - 5/26/2008
Inadequate infrastructure (it is acute in ports, oil tankers and shipping) and its maintenance as a matter of course... More
Answered By: poornakumar b - 5/29/2008
There are many factors... More
Answered By: One Doubt - 2/26/2014
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