>The world of economic growth, glass office towers, waxed cars and fashionable
>clothes coexists with its opposite: stagnation, a decrepit built environment and
>despair.
I am not talking about Intel engineers. Today 300 million Indians watch CTVs. This number was close to zero in 1970. Indian CTV industry sold 8 million CTVs in the fiscal 04-05. If the current growth rate can be sustained, 500-600 million people will CTVs by 2020.India had 86,000 phones 50 years ago, this number will have grown to 200 million by 2010. From rising average life expectancy to consumer durables, Indian capitalism has shown robust rates of growth in almost every field. Indian growth is largely driven by expansion of the domestic markets. India doesn't enjoy $160 bn trade surplus with the US. It's time to give up mythology of development of underdevelopment. The high living standards in US and Europe were not achieved overnight. It took 150 years for that to happen.
Ulhas