Whitonomics - Issue 2 July 2014 | Page 8

P.6 IN DEPTH WHERE NEXT FOR INDIA? Pavan Rao takes a look at the issues facing the Indian economy A hustling bustling nation of over a billion people, India is seen as being one of the emerging economic superpowers for the future. India has a booming tertiary sector and is one of the global leaders in the IT industry - it has clearly developed since Independence in 1947. With everything from hosting an international Grand Prix to launching a mission to Mars, India has clearly announced itself on the world stage. But why is it still such a hot topic of discussion? One of the main issues in India is the increasing rate of inequality (Gini Coefficient: 0.33) the enormous gap between the rich and poor. It is quite alarming that a nation with more billionaires than the UK has such a vast number of people on the streets, literally fighting to survive. Being from India myself, I too am no stranger to the blat