June 17 – Goldman Sachs authors of the famed BRIC's report of 2004, which outlined the emergence and dominace of Brazil, Russia, India and China by 2050, has recently published a 10 point roadmap for the Asian subcontinent. The roadmap points out India's flaws and how the country can make constructive changes to emerge as the second largest economy next only to China's by 2050 when it would have a gross domestic product of $40 trillion.
Written by Jim O'Neill, chief economist at Goldman, and Tushar Poddar of the Asia Economic Research team, the report indicates that India needs to improve its governance, control inflation, introduce credible fiscal policy, liberalise financial Markets and increase trade with its neighbours. It also needs both to significantly raise its basic educational standards, and increase the quality and quantity of its universities. The country needs to boost agricultural productivity, improve its infrastructure and environmental quality.
to read the entire report click here.