Is India a poor/rich country?
India is a subcontinent though we take it as a country. this may include Pakistan, Bangladesh, and Burma. however, India is a very mysterious country. it has got all the indicators of a poor nation and those of a rich country. India is one of the countries with the highest number of people with extraordinary IQ yet it is also a country with quacks and infidels. Technologically India is advancing on high speed and soon it will send astronauts to moon and mars respectively. the country has got a high tech village equivalent to the American Silicon valley. the richest people in southeast Asia are found in India and the poorest or the poor in Asia are also found in India!!!! therefore, what i can say is that India is moving in a direction difficult to explain. it resembles the Indian tiger on the prowl.
India is a rich nation, but its citizens are poor. Can you explain this statement?
Inequality exists in most societies.Perhaps a problem in India is that this inequality has not been lessened as it has in Western Europe.My cynical view is that after the two wars of the first half of the 20th century, those in power realised that they had to give the population something as there were millions of men who had training in warfare who might decide to take if not given.Of course they gave as little as they felt they could get away with.Hence much of the anger now prevalent in the West.
Was India ever rich?
Yes. India was rich before British. Precisely, British was the only reason for India to be a starving nation. They looted us and ruined us.As Angus Madison, a famous historian stated in his book, contours of world economy:1 to 2030 AD, India was the richest country in the world upto 1000 AD. During the rule of Mauryan Kings, especially during Asoka, activities like construction of roads, buildings, expanding trade etc were largely developed and which boosted economy as well. During the Mughal era, India contributed 26% to the global GDP. According to an estimate (source - Wikipedia), in AD 1600,the revenue of Akbar was £17.5 millions while the same of entire Great Briton even in 1800AD was £16 millions. When Aurangazeb ruled this crossed £100 millions. India could contribute 24% to the world GDP during this time. But as Mughal Kingdom declined, Indian economy was also fell down. When British arrived India, Indian cloth merchants were holding 27% of the total world trade while this was decreased to 2% after they started to rule. This doesn't mean that their production became worthless or any other country overtook India. In fact our resources were looted by British and they made use of it for their economical boost. British is the only reason for the present status of our country. If they didn't come here, we would be probably the most developed nation.
Why is India and China becoming rich?
There are a lot of reasons; it’s a very complex situation. Contrary to popular opinion, it isn’t because Americans are lazy or the Chinese notably hard working, it’s simply a matter of economics. One reason is simply that they are going through their own industrial revolution. They have massive populations and any given person is able to produce exponentially more than they could have before, so the gross national product is amplified greatly. Reason number two is also due to the massive population. There is a greater quantity of manufacturing jobs demanded and a lower supply, so companies can pay their labor much less than in the U.S., and the workers will still be happy, because the jobs are better than what they would have had before. It’s not that Americans are lazy or don’t want the jobs, it’s because they literally cannot live off of the wages paid in China (a dollar or less per hour for a manufacturing job). The cost of living is just too high, and there’s a minimum wage anyway. Interestingly enough, the manufacturing jobs in China have raised the average wages enough, that China is losing some of it’s attractiveness to other nations. Another big reason was that until 2005, China was fixing their exchange rate. They kept their currency, the Yuan, purposefully weak, compared to the dollar. This means the dollar had more buying power in China than it ought to have had. Because of this China’s exports were extremely attractive. If you follow economic news, this was actually one of the biggest sources of tension between the U.S. and China; just as big, if not bigger, than the outsourcing issue. India has such a large IT industry because not only do they have inexpensive labor, their labor is also highly educated, comparatively. As far as goals of China and India, they simply want to do well for themselves; expand their wealth, and their world influence; the same as any country. Would China or India be hurt by other countries becoming competitive economically? Somewhat. They do so well because their labor force is so large and so impoverished. As they continue to grow wealthier, their workforce will be more highly paid, and other countries will be even more attractive than China for labor and exports; it’s already happening in some industries. So, the more China grows, the more downward pressure there will be on that growth to slow it down.
Richest Country untill 1700-1800 AD was India???
Until the industrial revolution almost everyone in the world was poor subsistence farmers and the GDP of countries only reflected the population. India is a large fertile country with some of the most productive farm land in the world and so it had the most people. see http://www.visualizingeconomics.com/2008...
Why India is rich but Indians are not?
On GDP terms , India is the 7th richest country in the World . Economists forecast that India will push UK and France behind it in the near future. However, it's true that India has millions of poor citizens and is still not considered as a developed country .The reason is multi factorial .With 1.3billion people , India has 1/5 th of the world population . The massive population is making the per Capita income substantially low , , We can't just blame the population growth . China is the most populous country in the world however it's development indices are better than India .Inequality is an other reason , The gap between the rich and the poor is vast , much widerthan many developed countries . On one end of the spectrum , there are super rich with immense wealth and extravagant life style , on the other end of the spectrum , millions of people are struggling even to have 3 square meals a day.There is economic progress but the social progress is very slow , To have development and equality, it's important that economic progress happens hand in hand with social progress , India is still a country riddled with castism , misogyny , poor working conditions and poor record of workers welfare & rights.Then there is poor governance and corruption at all levels of society which is dragging the country down and making real progress and abolition of poverty difficult to achieve .There is lack of leadership , there are not many leaders with long term vision , charisma , and progressive policies who treat all Indians as equal citizens whatever their caste, religion or ethnicity .Most of the leaders are only interested in short term gains and lining their pockets . Others are driven by divisive ideology alienating large chunk of the population just because they belong to a different religion or caste .
Why is India a rich country, but its citizens are poor?
India was a rich region long back with great climate, good water, splendid monsoons, natural resources, vedic education and much more.That is why it has become a great pillar in silk route, with exports and imports. With that came the traders and colonisations which ruled India for good 300years directly or indirectly.So, what happens when such a rich country get ruled by business minded people who have their own home countries? To know more of what happened, read the book, Late Victorian Holocausts - Wikipedia.It will try to shed light on how Third world countries emerged in first place, how British Raj has exploited India in a series of droughts where people had to sell everything to buy a grain of food which was in control of British and how they have continued mass exports of the available produce even when people in India were starving to death.File:Victims of the Madras Famine by WW Hooper, 1877.pngSo, when British left India, there was not much wealth left. India has survived since then and making progress day by day.However, due to inadequate policy making, population explosion, lack of education, unemployment, all being nurtured by corrupt politicians to preserve their vote bank, left India poor for ages.