Today, India is where China was in the 1990s. The sheer momentum now appears unstoppable

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The Rise Of India

Just look at the kind of global leaders that are making a beeline for India and the picture that emerges is crystal clear. The King of Saudi Arabia was in Delhi in January. French President, Jacques Chirac, dropped by for a brief visit a week before George Bush arrived. Australian Prime Minister, John Howard landed in Delhi on March 6, 2006 to discuss uranium supplies. Vladimir Putin of Russia and Wen Jiabao of China are also scheduled to come by.

The reason: The world is finally waking up to the fact that the Indian elephant – in deep slumber for centuries – is now awake and beginning to dance. The sheer volume of economic opportunities available in India is mind boggling for global investors. Says Vijay Govindrajan, Professor of Strategic Management at the Tuck School of Business, Dartmouth College: “Today, India is where China was in the 1990s. The sheer momentum now appears unstoppable.”

Without getting into the details, what exactly does the nuclear deal mean for India? Quite simply, if the US Congress does clear the deal, the future of India’s energy security will become considerably brighter. If India does raise electricity generated from nuclear energy to 30% of total power generated, American, French, British and Russian companies will be competing for new nuclear power plants with a total capacity of about 40,000 MW in the next few years. That is a Rs.2 trillion business opportunity waiting in the wings. No wonder, Ratan Tata and Anil Ambani want to enter the nuclear energy sector. Business opportunities apart, the killer advantage for India will be reduced dependence on oil supplies that look so very iff y with the way instability, unrest and civil war is unfolding in West Asia, and the way China is consolidating its hold on global oil supplies.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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