Without reforms, India’s growth script lacks global appeal
Thus current economic growth in the country amid worldwide slowdown is only next to China and much above the growth paradigms seen by other members of the BRIC club.
Despite this, India’s growth story does not find much of a place in the deliberations and reports on the global perspective.
The latest example is Platt’s report on outlook of steel industry where none of the experts have mentioned about the prospect of the steel industry in India, which has been projected to grow at one of the highest rates in 2013.
One plausible explanation could be the low share of the Indian economy in terms of global wealth, share in specific commodities, including agriculture (except milk), and the marginal performance in trade.
India stands high in population numbers and as large importers of crude oil, gold and coking coal.
A trend is also visible that some specific areas of the economy are providing space for utilisation of the excess capacities of advanced countries.
This has hit hard a few critical sectors such as machinery and equipment, all belonging to
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