After a great struggle and sacrifice of many freedom fighters India won independence and got back its place in the world. India’s vibrant democracy-huge population associated with problems like poverty and illiteracy.Through the years we have developed in various fields like education, agriculture, industry, and transport etc.We have made efforts to develop scientifically, we could bring about industrialization through technology with the help of foreign collaboration. At present the western industries are dominating the world market, we should take the chance too in the coming future.

India has produced many Scientists, Politicians, and Social and Religious reformers. We have the most logical brained personalities who can dominate the whole world. It is India which taught Mathematics to the world.But, it is a disappointment and misfortune that even Sixty years after independence our country is still called a developing economy. Lets take for instance, during the World War 2 Japan was bombed leading to destroy of fifty-four cities and Tokyo was reduced to rubble.The aftermaths of the war was appalling. Three million Japanese were killed during the war and latter thousands of them died due to malnutrition. Today Japan is one of the richest economies.

Why is that India is still developing and Japan is already a developed country? People in developed nation always aspire to live in a rich and prosperous nation. It is mainly through the sheer resolution of the government and the people that now their dreams are aligned with reality. The lack of confidence in our own abilities is a deterrent in achieving our goals. There are other factors which deters us from our common aim is the differences caused in our societies based on cast,religion,race,sex,colour etc.The time has arrived to drive away such discriminations.It is only when we accept all Indians with all diversity we can realize an abundance of creation of capital.

Why is it that some countries have so much and some have very little? There is no need of any statistics to calculate the GDP to figure out the developed nations. It is certain when you look at your surroundings. In developed countries people take some facilities and services for granted, like roads, water, electricity which we Indians cannot. Continuous supply of electricity, water when ever you turn on the tap, no garbage on the streets. Are all these true when you look around? India has a population and reaching of these services to each individual in equal proportion is difficult for instance health facilities in our country. The life expectancy in US is 73 for male, 79 female in India 63 for male, 61.4 for female. There may be various reasons

. In our country demands exceed resources.

If ours is a developed nation we would have started from our villages. Indian villages are the heart of the nation. About 70 percent of our people live in the villages. Villages can no longer be backwarded.They are deprived of basic prerequisites like schools,collages,hospitals,electricity,water for irrigation and domestic purposes.The advancement and development in the biotechnology, agricultural sciences and industry will transform the villages.The modern way of living will be available even to them.At the same time the natural beauty of our countryside should be protected.


Usually when you live big cities you find at the market place apples from US, dry mango from Philipines.The flow of from the origin or production takes place regionally as well as globally.The people in Punjab buy apples from Himachal Pradesh and medicines in Maharashtra.Punjab is a large producer in wheat so Himachal Pradesh and Maharashtra buy wheat from Punjab.In the global market the country which cannot produce cars cheaply will purchase cars from the country which produces them cheaply. Similarly the same car producers may not be able to produce computers cheaply will buy them from another. Globalization means the uninterrupted flow of goods within the country and globally. Globalization helps a country to earn capital.

How does a country decide as to what to produce? It could be that a country may be traditionally specialized in producing certain goods like wines in France. This is core competence

Core Competence is fundamental knowledge,ability or expertise in a specific subject area or skill set.

Globalization describes as when countries produce goods and compete with other countries to sell them worldwide.It leads to growth in international trade ,investment and capital flow and results in economic growth for who are economically and technologically efficient.

The countries capital generated is determined by GDP-gross domestic product

GDP is the sum total of goods,services,and other money, earned by the country in a given year.It includes all the money spent on goods for consumption and on investment by each individual and companies, as well as government expenditure, and the total value of exports over and above the money spent on imports.

The sum of all the money into one unit –dollar. Every country has an exchange rate for it’s currency. In India for rupees we have an exchange rate o Rs 45/- corresponding to $1.

We may not be able to purchase the quantity for $1 as much as we can for Rs 45/-.A man who earns $1000 in USA is not rich but a man who earns Rs 45000/- in India is rich. There is a lot of difference in the cost of living.

There is a another concept PPP- Purchase Power Parity or the Per capita income.

Per capita income means the total income divided by the number of people.

The PPP of USA is $36,300 where as the PPP of India is $2,900 thirteen times of the income of our country. The US economy increases about 2.5% every year.We need to grow upto 10% per annum.Only then we can remove poverty and become prosperous.