Howdy Stackers!
Today, I got a few words of appreciation from @k00b about my posting on India's economy. Thanks to him and all of you for motivating to post reality about a country which has been thought deprived of money for a very long time in modern history. But the world has changed so much in less than 2 decades and India is getting closer and closer to achieve its status of being a 'Golden Bird' once again and for many reasons it's gonna happen in this century.
For today, I've found a very interesting article by BBC. The article deals with 6 charts which not only specify about the good things but they also present the bad and ugly things that may possibly stall Indian bandwagon of incredible growth and development. Here's one chart for you:
A three day pre-wedding ceremony of Indian billionaire Mukesh Ambani's son recently offered a glimpse into the country's new gilded age. Mark Zuckerberg, Bill Gates and Ivanka Trump were in attendance. Rihanna shook a leg with Bollywood's biggest celebrities, while the Ambani women flashed diamonds and jewellery once part of the Mughal empire's collection.
Luxury brands making cars, watches and liquor have been growing faster than India's more mass-market companies, according to Arnab Mitra, who researches Indian consumer brands at Goldman Sachs.
Many economists argue that the nature of India's economic growth post pandemic has been uneven, or "K-shaped" - where the rich have thrived, while the poor continue to struggle. India may be the fifth largest global economy at an aggregate level, but on a per person basis, it still languishes at the 140th rank.
Future projections may be promising but the reality is generally observed in present. Looking at present inequality in income India is once again progressing to the same era when a king will boast of all the riches of his great country but The people will survive only on the mercy of their king!
What do you say?