Impact of Commonwealth 2010 on Indian economy
SHARETIPSINFO >> Articles Directory >>Delhi-Commonwealth Games 2010 and the Indian Economy
Until two weeks ago, India was a country shamed by charges of corruption, being inept and was even being given repeated deadlines for garnering evidence of India's ability to hold the games which were under serious threat of being moved elsewhere on an almost a daily basis.
Scandals gained fire through prominent International Newspapers and Tabloids about certain misdoings by "certain" people and much ado was made out of almost nothing.
There were pictures of an Indian Special Forces team of "Langurs" being assigned the role of protection of Athletes after the foot-over bridge debacle as Team India looked set for one delay after the next.
Some however would argue that at times, negative publicity does more of a job in raising awareness than positive publicity.
As things stand today, we are on day 2 of the games and India continues to be a lauded for hosting perhaps the most exciting event held in recent years with the opening ceremony being labeled as an extravagant combination of visuals and events showcasing over 5000 years of India's history and cultural diversity.
Here are some recent facts; the ever growing Indian economy is set to rake in an estimated $ 4900 million(more than the combined figures gained by the events held in Manchester, UK and Sydney, Australia) and around 2.5 million employment opportunities (such as the new air terminal, metro rail, power plant and expressways) over the next four years! The GDP figures look to rise around 8% in the foreseeable future with India putting its firm authority to be a likely winner of any future bids on extravaganzas of the sort!
There is however speculation that all may not end well as estimated as most of the nations in the past have suffered after holding an event of such magnitude. Greece recently suffered the pain after holding the Athens Olympics 2004.
According to us, by the looks of things, India Inc should be able to cope up and do well. Yes, the people of Delhi will suffer a bit in terms of price increase in basic commodities and property purchase, as taxes might experience a bit of hike. However as far as the Indian stock market is concerned things couldn't get much better!
According to the Economist, India looks almost ready to outpace China soon! This report is being based on facts yet again. Thanks to a young and growing workforce along with its democratic stature, India should experience a hike of around 8% in the coming year.
Given a choice between doing business in China or India, FII's at the moment are picking China, However, as the global economy becomes more knowledge-intensive, India's advantage will grow, with most Companies already preferring India for its knowledge based processes(Outsourcing=India Inc).
India's advantage seems to be yet another fact that India being a place where Ideas tend to flow more openly in comparison to its neighbor in the north.
India should also find a further development in Private Hospitals and Medical Tourism should also give India a huge competitive advantage in securing its position as major tourist hotspot in the forthcoming years!
Impact of Commonwealth 2010 on Indian economy
By: Sharetipsinfo3
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