Why Wait for a developed India Till 2020?

Why Wait for a developed India Till 2020

“Once upon a time there lived a Dog who was well nourished and was a pet in an opulent family. The Dog one fine day decided to go out and see the world and sufferings that other dogs faced. When he set out he saw the starved puny dogs which never got anything to eat. He struggled for three days without any food, until finally he saw a dry bone lying in the road. With great expectations he started biting it. A minute later blood started to ooze apparently out of the bone and the dog happily started drinking the blood believing that it was coming out of the bone. Just then another dog reached out to this dog and said ‘hey stupid the blood you taste is coming out of your body and you are harming yourself. But this Dog was unfettered and continued to believe that the blood was from the bone and said ‘don’t fool me. I know the blood comes from the bone and the more I bite the more blood flows out’”

This story reminds me of the country India which once starved for funds and ultimately went on to inevitably liberalise biting the bone and started to seamlessly grow and extracting every dollar (Blood) it can amass and continuously striving to increase its dollar reserve. Asia today alarmingly is holding 80% of the dollar reserves that the world outside US holds. But Alas all the money is reinvested at Uncle Sam’s reserves. This is one ubiquitous topic about which every economist writes but no one can suggest a realistic measure or policy that can Gag US hegemony.

To trace the source of Dollars and to detect the need for dollars will solve this puzzle. The source of dollars to the Asian countries has been Technology and the need for dollars is to feed our automobiles. The Source cannot be blocked but the need can be diluted so that the source (dollars) becomes less attractive. If there wasn’t a need for a substance called OIL countries like China and India would have become self sufficient 10 years ago. The Oil Pool Deficit has been growing steadfast thus impacting the growth of all countries around the world. If there can be a solution to this then Abdul Kalam’s Dream of making India a developed country can be reached before 2020.

While Scientists have been working to make non-conventional energy sources an alternative, it seems a viable solution only on a longer run and requires huge investments. Also the efficiency of such energy sources is very negligible when compared to oil. This leaves an indelible dent on the Economies which Struggle to sustain their GDP Growth but a bigger chunk of this fortified growth goes to the OPEC. It is high time that we Indians think audaciously about this. Why audaciously because we can never expect a General Motors in India to spend millions of Dollars in research on Fuel cells.

If we could find a solution for this who knows one day technology will become the Driver of the world just like OIL and Indian currency would be the most sought after. And there will be a day when 1rupee=50 US$.

The world will be behind India.