What more infrastructure does India need to become a developed country?

IIPM - Admission Procedure

What more infrastructure does India need to become a developed country? Analyses AKRAM HOQUE & SRAY AGARWAL of IIPM Think Tank

Financial market

Now switching to India’s booming financial market which has yet not reached its peak and matured enough, it has shown lot of promises and will leave significant contributions in its development and glory. Recent available data, about 4% Indians have access and invest in the Indian stock market. Though, the number of people investing in stock market might look greater than the entire US population, as tiny fraction invest in it; the stock market has not become a holistic indicator of India’s growth story. Thus, people’s participation needs to be encouraged to 75% which then will lead to a significant change. It is then the most import aspect, availing banking facilities to every nook and corner of India. Merely, 31% of the Indian population avail banking facilities today, while crores of rupees are in the public hands coming to the rural economy as remittances, profits. There is a need to consolidate big banks and focus more on branch extension. Furthermore, each branch should provide services at par with any stand-alone banks or private banks. In order to increase and encourage entrepreneurship, 75 dedicated specialised venture capital companies should be started across the country in order to encourage budding entrepreneurs. However, bank branches have drastically increased from 10,120 in 1969 to 98,910 in 2003 and the population served by branch decreased from 63,800 to 15,000 during the same period. If India can encourage opening another 75,000 bank branches providing services in rural areas in another five years, it will be like a golden egg from a golden goose.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
IIPM : EXECUTIVE EDUCATION
IIPM, GURGAON
IIPM’s 36th Glorious Year of Academic Excellence
IIPM Ranked No. 1 B-School In Global Exposre - Zee...
4Ps Power Brand Awards 2007
When IIPM comes to education, never compromise
IIPM is A World of Career
Why Study Abroad When IIPM Gives You 3 global Advantages!
IIPM Ranked No. 1 B-School In Global Exposre - Zee...