I agree with what Naveen said, USA being a gaint in technology makes certain countries to depend on them. India is one among them. India being a country having more number of IT professionals and scientists is still dependent on the American economy for its growth and survival. The main reason is most of the Indians are working for the development of the American economy than of India. So we should stop working for other countries to grow our own country. Thanks...
By
Swati Raut, Product Manager, Aviva
| 02 17 2010 10:12:34 +0000
world economy is more interdependant ,dominance is no more polarised.its no more all about america ,the periphera of power is slowly moving towards east .though it cannot be denied that economic shuffle in america would affect india thats because of the heavy investment happened over there in past years .world has been weaved in way through globlisation and librelised policies ,businesses ,investment that no country is immune to effects of economic turmoil.as far as india is growth factor are concerned the biggest factor has been the "huge domestic demand " so how come india's survival depends on fate of west.
By
krishan Kumar Vyas, Insurance Operations Officer, Reliance Life Insurance
| 02 10 2010 06:59:55 +0000
Economic Development means not economic independence. It is obvious that the USA being gaint in technology one has to follow it. But at the same time the developming country inculcate themselves not to be ginnypig of the developed country. Our aim should be the great sanskrit saying "Aano Bhadra Krutavo yantu viswath:"
By
NARAYAN YAJI, Senior Manager, KARNATAKA VIKAS GRAMEEN BANK
| 02 10 2010 04:11:54 +0000
Rather than debating on whether dependent on American economy or not, i would say any organization(Developing country) to grow and survive would require the help of neighboring organization from the developed country. I would say a healthy growth of an under developed country is and should be, dependent on developed economy. I am not trying to say its not possible without a developed economy's help but for a healthy growth its always better to go with developed country. All the economies are inter dependent for their real growth. ... Thank you, Manish N Cheers!!
By
Manish N Chugh, Officer Trainee, Stock Holding Corporation of India ltd.,
| 02 09 2010 15:14:22 +0000
India or other developing economies Will Remain depended on USA for More years because of strategic situation.
The growth in Indian economy started with the growth in IT segment that started in the new millennium. From 2004 the BPO industry put India on accelerating growth mode. About two million people are likely to get employment in this segment. This will be possible on the basis of job transfer from the Corporate US mainly irrespective of the President Obama’s pressure to retain the jobs within the country. Indian economy has become a trillion dollar worth today mainly due to the burgeoning outsourcing job to the Indian skilled IT professionals who were cheaper compared to the American employees. When India is on the faster growth rate and wish to maintain around 8% growth rate in future India has to explore more and more of USA.
US is offering many opportunities for US investments in India because of lower interest rates in the US economy and better return prospects in India. .Americans are investing in auto, construction, textiles fashion industry and so on.
Pakistan is apparantly sdepended on USA for financial support and military support as well otherwise the divisive foreces would tear it apart.
By
Kanti Mohan Pandit, CEO/MD/Director, Center- Business Intelligence & Forecasting Cal
| 02 09 2010 14:40:14 +0000
India boasts one of the world’s fastest growing economies. Along with this growth, our country is dependent on other countries, not only US. The limited energy reserves at home have forced India to look abroad to satisfy much of this voracious demand for oil, natural gas, and coal. India have been depending on America for the economies to keep running strong. The Indian employment base relies heavily on the U.S. for call-center jobs, as well as those involving technical support. India’s software industry is also focusing on America..
By
Rashmi Chawla, Cust. Service Manager, Leading Bank
| 02 09 2010 09:55:29 +0000
argue both on positive and negative aspects
for and against the statement
By
bhaskar rao kasibhatta, Freelancer, Freelancer
| 02 09 2010 06:05:05 +0000
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Developping economies like India "should not" be still dependend on America ( alone ). We agree that USA economy is a big economy and they alone may 'consume' all our goods and services offered for export. Yet ... NO. And let us think why we should not spread our 'reach' in every corner of the globe ? Why not in Europe, Latin America, Africa or BRIC countries ? India is an old civilisation ( older than USA ) and her fame and reputation was spread all over the globe. Our recent experiences have shown that we may not be dependend on only one as 'their problem' may affect us within moments. So we may VENTURE to expand our horizon ... and that is quite possible. And ... finally, our now-increasing internal demand for goods and services may alone prove to be sufficient in days 2come. Let us all prepare for that.
By
ASOKE KUSARI, Domestic Private Banking-Executive/Manager, A large leading PSU Bank - India
| 02 28 2010 12:05:49 +0000
Developed nations including US are big consumer markets and moreover since the global economy is liberal so interdependence is undeniable but the subject that Indian economy as a whole is dependent on US for survival is too general,a statement and is surely debatable.Sectors like textiles,IT,agriculture and pharma to some extent are dependent as US is a major customer but the recent trend suggest more diversification towards China,Middle East and some neo-developed nations.Moreover manufacturing,automobile,oil&gas & power sectors are grossly dependent on inner demand as it was evidently clear by their performance during recession period.
By
Amit Kumar, Design Engineer, Bharat Heavy Electricals Limited
| 02 17 2010 14:12:52 +0000
Our economy is an independent econimy, and investments are spread evenly over world countries based on risk factors of various countries. It do not predominently based on any country, there fore to my view its not dependent on America or in in the hands of any similar developing countries. Ofcourse our economy is based on global econoy impact of which may effect us. Obama's approach towrds their businesses in India is a discouraging one, he withdraws most of the tax benifits to them.
By
RAMANATHA PRABHU N, Chartered Accountant
| 02 17 2010 12:19:34 +0000
Except IT industry, there is no need to depend on developed countries like USA, UK. Within years our IT industry also come good with domestic services/plans. Meantime, all other countries will depend on INDIA.
By
Chandramouli , Sr. Manager - QS & Contracts
| 02 10 2010 04:20:10 +0000
Not really. Indian economy is not so much dependent on American economy. But yes in the political sense we have over the years tilted towards the US. And that seems to create an impression. Actually we are not dependent on the American economy as much as Chinese economy is simply because our economy is more self-sustaining and depends more on domestic demand and not exports. But no nation is independent in today's inter-connected world and in that sense we are dependent on American economy and vice versa is also true.
By
Azhar Kazmi, Professor, King Fahd University of Petroleum & Minerals
| 02 09 2010 19:02:04 +0000
I feel that India is self sufficient in many matters and it doesnot depend on other nations for its upliftment. The recent example was the recession that hit the world economy and all major developed country were terribly suffered. So if India would be dependent on them than it would have crashed also but it doesnot happen because we are having good planning and execution at every situattion and so we stand first where others are still finding a way out. With due respect to Freelancer Mr. KS Burli's thought I would like to say that this process or mentality has changed. I believe that his mindset that eldest manages the finances and when youngster are given they just get indebted. Now if eldest and younger are to be discussed than one must know that India was the Golden Bird and it was the world's biggest ancient civilization, and America is being found some 600-700 years back so it is much younger than India. Now come the finance management then we have seen that if younger are given money than they manage it very well than elders, its not that elders are not needed or their guidance is not needed but the thing needed the most is the faith of elders over the young generation and their guidance. So India is well equipped with all things that are needed for an economy to run and earn so if developed countries stop supporting India then it hardly matters.
By
Sharad Kiyal, Financial Planning Advisor, Aviva Life Insurance
| 02 09 2010 18:42:47 +0000
world economy is more interdependant ,dominance is no more polarised.its no more all about america ,the periphera of power is slowly moving towards east .though it cannot be denied that economic shuffle in america would affect india thats because of the heavy investment happened over there in past years .world has been weaved in way through globlisation and librelised policies ,businesses ,investment that no country is immune to effects of economic turmoil.as far as india is growth factor are concerned the biggest factor has been the "huge domestic demand " so how come india's survival depends on fate of west.
By
kawaljit kaur, pgdbm student , Mount Carmel Institute of Management
| 02 09 2010 11:00:47 +0000
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