Wednesday, August 15, 2007

Happy 60th Birthday INDIA!

"India is, the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great-grandmother of tradition. Our most valuable and most instructive materials in the history of man are treasured up in India."

"In religion, India is the only millionaire......the One land that all men desire to see, and having seen once, by even a glimpse, would not give that glimpse for all the shows of all the rest of the globe combined."

~Mark Twain (American Author, 1835-1910)


Read about the history of India's Independence Day here.

Read a list of reasons why you should be "Proud To Be An Indian."

Read news about India's Independence Day in "The Hindu" here.


Read Indian professor
Ray Titus' Buyer Behaviour blog here.

Read about what 60 years of independence has meant for India's financial and capital markets here.

Adjusted for purchasing power, India's economy is the world's 4th largest, and will probably surpass Japan this year to become the 3rd largest economy, behind only the U.S. and China.


4 Comments:

At 8/15/2007 10:02 AM, Anonymous Sudha Shenoy said...

1. If India is the world's fourth largest economy in PP terms, then why does it take the average Indian worker 369 minutes to buy a bottle of beer? vs. 9 minutes in Italy & 10 minutes in the US?

2. If india is expected to surpass Japan, then presumably India will become the world's largest purchaser of luxury goods, like Vuitton, Dior, etc.? Displacing Japan?

 
At 8/15/2007 10:14 AM, Blogger Mark J. Perry said...

From the news article: "One of the reasons beer is so expensive in India is that country’s high sin taxes."

 
At 8/15/2007 1:31 PM, Blogger Vik said...

Mark,

Thanks much. This meant quite a bit to us. Anyway,just an add on, there is something called the "VAT" for all the foreign importers and the all the drinks let alone beer hits the roof top with their prices. A beer ** read branded one ** would cost somewhere near 800 INR (equivalent to 20 dollars). That sums up I think why it is more accessible to folks abroad compared to the people here.

 
At 8/15/2007 1:51 PM, Anonymous Sudha Shenoy said...

But all other final goods & services are as easily obtained as in the US or Japan? The same supplies of good housing, cars, CD players, clothing, foodstuffs, TVs, reading materials, etc. etc.? The same superb quality as in Japan? For the vast bulk of the population?

 

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