Can India achieve a high-income status by 2050 when it celebrates the centenary of its Republic?
Will the nation eliminate absolute poverty and improve its human development record?
This book emphasizes the centrality of a trade-oriented services sector led by communication, business services, health, education, research, and innovations for achieving these growth targets. It also argues that inclusiveness, financial prudence, and low-carbon lifestyles are preconditions to long-term growth.
India can achieve such prosperity neither through the socialistic policies of 1950–80 nor through the neo-liberalistic policies since 1980. It needs to, instead, follow a middle-path approach closer to the systems adopted by Germany and the Nordic countries. It is within this framework that India will devise its independent development paradigm rooted in its own traditions and realities.
Chapter 8: Making Prosperity Ecologically Sustainable
India is by and large trying to replicate the current Western (more particularly American) lifestyle. As stated by Jairam Ramesh, former Minster for Rural Development in India in an interview reported in the Hindu (February 12, 2012), “There is no doubt that India is following American consumption patterns. There is a single paradigm-one model and energy-intensive, private-transport-intensive model and economic growth.”
Replicating the current western lifestyle may be possible for a tiny minority of Indians, but not for India as a whole. Earth's natural resources are just not enough for 1.5 billion Indians consuming nature's resources at the rate that is done in the today's high-income countries (HICs) on a per capita basis. This is evident ...