Earlier the poverty in India was the main international Issue and India was always seen as a country with poor people. But see now !!!. How the world has changed. The splendid Economic growth in India changed the way world thinks about India because Indian economy changes the world economy. Indian prosperity is the issue being discussed. Recently both US president Mr Bush and secretory of state Condoleezza Rice blamed prosperity in India as the main reason for rise in food prices. They stated that Increase in prosperity in India has lead to better nutrition and rise in food prices.
Mr. Bush said “ ‘Just as an interesting thought for you, there are 350 million people in India who are classified as middle class. That’s bigger than America. Their middle class is larger than our entire population.When you start getting wealth, you start demanding better nutrition and better food, and so demand is high, and that causes the price to go up.”
I wonder how world has started recognising India now. If what Mr Bush says is true, then we need to believe how any change in India will affect the world. Be it change in food habits, change in clothing, change in investment strategy. What we see as prosperity in many Indian homes is just a single digit % of of total population. Imagine what will happen if most population of India ( and off course China) moves towards middle class and prosperity. Then Entire world will dance to Indian Tunes.
I am not sure about the validity of US statement. But at least now world started recoginsing India as a major contributor for world economy. And that’s very interesting !!1
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Critically Yours
Kiran
Filed under: Economy | Tagged: Condoleezza Rice, Economy, Food prices, George Bush, india
Hmmm, George Bush blaming India for the rise in food prices? I think there’s more evidence that he and the US government started the ball rolling with their promotion of ethanol biofuel from corn. And if you were to blame a middle class for eating more, I think that would be more likely to be the Chinese – as they eat much more meat than the Indians – and meat is a very inefficient part of the diet. But maybe it’s politically easier to blame India – the US is somewhat in debt to China and there’s enough anti-Chinese sentiment going around.