With a population of more than 1.2 billion, India is the world’s largest democracy. Over the past decade, the country’s integration into the global economy has been accompanied by economic growth. India has now emerged as a global player.
Read More »
ChallengeBy 2030, about 600 million jobs must be created in developing countries – mainly in Africa and Asia – to accommodate new entrants to the workforce. Such rapid job growth requires an almost unprecedented... Show More + pace of job creation. To meet the job-creation challenge, macroeconomic and investment-climate reforms, while necessary, will not be sufficient. An approach to job creation that goes beyond macroeconomic policies to develop job markets – focusing on specific industrial sectors and clusters, chosen because of their competitive potential – is a more targeted way to promote job growth. Unlike earlier efforts in industrial policy, the Competitive Industries approach relies on on rigorous methodologies and continuous measurement to demonstrate results, manage fiscal costs and limit the risk of “regulatory capture.” Show Less -
Secondly, the study reveals considerable variation in the regional approach to low-carbon and clean energy investments, reflecting, one would presume, the techno-economic needs, realities and priorities... Show More + of each country. For example, in predominantly rural countries of Nepal and Bangladesh, the lack of grid connectivity has prompted investors to focus successfully on off-grid renewables rather than grid-connected preferential tariffs or an electricity grid code. In India, the size and diversity of the population provides opportunities to develop different renewable energy sources, while smaller countries may need to emphasize sources that are more easily tapped, such as small hydro (Nepal) or solar PV (Maldives). India also provides regulatory autonomy for different states, which can then compete to attract investors, which is not the case for most other countries.When key investors were surveyed on the relative merits of various policies, regulations, and incentives, some startling res Show Less -
March 9, 2010 - Almost ten years ago, I. C. Agarwal, an engineer-turned-entrepreneur, in New Delhi had an export order from Japan. He had no funds to complete it. He turned to the Small Industries Development... Show More + Bank of India (SIDBI) for a loan. “My first loan from SIDBI, for just Rs. 400,000 ($8,000) helped me break into the export market,” said Agarwal. Starting with such a meager sum, Agarwal now is the only Indian manufacturer from the small scale enterprise sector to supply precision auto parts to world-renowned firms such as Caterpillar in the United States, as well as to Japan, Europe, and China.Today, more than 400 people work in his company. “Quality is paramount in this global economy. The customers are constantly upgrading their technology, so we have to keep pace too,” he says, proud of his product, his workforce, as well as his strict adherence to his clients’ tight delivery schedules.Despite such success stories, several factors constrain the growth and competitiveness of ot Show Less -