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How India can be more competitive in international market
Talking about how India can improve its position in international market
India is already on its way to becoming a developed country. However, certain things are still lacking. Although, today the government of India may claim to be an emerging super power but the reality is quite different from what the government of India or the media of India portray to the world.
There are certain strengths of India in international market like:
Strength #1: A Network of Government-supported R&D Laboratories with Expertise in a Variety of Disciplines
Under Prime Minister Nehru, India started creating a set of national laboratories in the 1950s at a time when few developing countries lacked a similar vision. The Central Government continues to play a major direct role in R&D and accounted for 62% of the national expenditure on R&D; much of this funding is directed to work done in government laboratories.
Strength #2: Large Education Capacity with Several World-class Institutions
India has over 300 universities/deemed universities, 13 institutions of national importance and about 17,000 colleges offering higher education in the country. Thanks to this large education network, India has one of the largest stocks of scientists, engineers and management students in the world.
Strength #3: Large Private Sector Industrial Base with More of MNC’s entering
The Indian private sector survived the decades of a relatively closed economy and a cumbersome regulatory structure to blossom and flower after economic deregulation started. Propelled by a boom in services, and with a healthy growth rate in manufacturing, the Indian economy has maintained a growth rate in excess of 6% since economic liberalization and globalization began.
These are some of the strengths of India but there are weaknesses attached to them
Weakness #1: Lack of Dynamism of the Government R&D System
The reason we consider that the government system’s major contribution to be human resource development is that only a small proportion of its output has been translated into industrial application. Historically, the government R&D system tended to work in isolation and on its own agenda. The lack of technology transfer was a result of a lack of understanding of industry’s requirements and the absence of an incentive system within the laboratories that emphasized industrial application.
Weakness #2: Quality of the Higher Education System
While the higher education system is broad in scale and scope, its research output is poor. There is little doubt that the rapid expansion of marketing education capacity has taken place without much attention to quality. The result is that the marketing graduates from a large majority of these private management institutions have to be re-trained by employers.
Weakness #3: Limited Impact of Government Support Programmes
Government policy initiatives in India are plagued by implementation problems and the government’s initiatives in the arena of exports are no exception.
Weakness #4: Corruption and the slow development of infrastructure
Corruption and the slow development of infrastructure threaten to slow down the pace of economic development in general and the evolution of the innovation system in particular. It is widely believed that there is a link between corruption and the poor quality of the new engineering education infrastructure. Corruption is likely to dissuade capable entrepreneurs from starting new enterprises. Unless the poor urban infrastructure in the major locations of industry is addressed quickly, there is likely to be a slow down in foreign investment.
These and other such weaknesses are not letting India grow in foreign markets. So these weaknesses are to be taken care of.
India is already on its way to becoming a developed country. However, certain things are still lacking. Although, today the government of India may claim to be an emerging super power but the reality is quite different from what the government of India or the media of India portray to the world.
There are certain strengths of India in international market like:
Strength #1: A Network of Government-supported R&D Laboratories with Expertise in a Variety of Disciplines
Under Prime Minister Nehru, India started creating a set of national laboratories in the 1950s at a time when few developing countries lacked a similar vision. The Central Government continues to play a major direct role in R&D and accounted for 62% of the national expenditure on R&D; much of this funding is directed to work done in government laboratories.
Strength #2: Large Education Capacity with Several World-class Institutions
India has over 300 universities/deemed universities, 13 institutions of national importance and about 17,000 colleges offering higher education in the country. Thanks to this large education network, India has one of the largest stocks of scientists, engineers and management students in the world.
Strength #3: Large Private Sector Industrial Base with More of MNC’s entering
The Indian private sector survived the decades of a relatively closed economy and a cumbersome regulatory structure to blossom and flower after economic deregulation started. Propelled by a boom in services, and with a healthy growth rate in manufacturing, the Indian economy has maintained a growth rate in excess of 6% since economic liberalization and globalization began.
These are some of the strengths of India but there are weaknesses attached to them
Weakness #1: Lack of Dynamism of the Government R&D System
The reason we consider that the government system’s major contribution to be human resource development is that only a small proportion of its output has been translated into industrial application. Historically, the government R&D system tended to work in isolation and on its own agenda. The lack of technology transfer was a result of a lack of understanding of industry’s requirements and the absence of an incentive system within the laboratories that emphasized industrial application.
Weakness #2: Quality of the Higher Education System
While the higher education system is broad in scale and scope, its research output is poor. There is little doubt that the rapid expansion of marketing education capacity has taken place without much attention to quality. The result is that the marketing graduates from a large majority of these private management institutions have to be re-trained by employers.
Weakness #3: Limited Impact of Government Support Programmes
Government policy initiatives in India are plagued by implementation problems and the government’s initiatives in the arena of exports are no exception.
Weakness #4: Corruption and the slow development of infrastructure
Corruption and the slow development of infrastructure threaten to slow down the pace of economic development in general and the evolution of the innovation system in particular. It is widely believed that there is a link between corruption and the poor quality of the new engineering education infrastructure. Corruption is likely to dissuade capable entrepreneurs from starting new enterprises. Unless the poor urban infrastructure in the major locations of industry is addressed quickly, there is likely to be a slow down in foreign investment.
These and other such weaknesses are not letting India grow in foreign markets. So these weaknesses are to be taken care of.
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