Some Facts About India To Ponder
A recent BBC World feature brought up some pertinent, but often missed facts about the Indian situation and poverty. First, Indian nationals spend more money every year on gold (for personal consumption and investment) than the total amount of foreign business investment. Second, that less than 3% of employed Indians pay income tax. I highlight […]
A recent BBC World feature brought up some pertinent, but often missed facts about the Indian situation and poverty. First, Indian nationals spend more money every year on gold (for personal consumption and investment) than the total amount of foreign business investment. Second, that less than 3% of employed Indians pay income tax.
I highlight these two insights because many in the West tend to assume (as I did before moving here) that India did not have the means to deal with it’s own poverty. However, I’m no longer sure this is the case. That’s not to say that globalisation is not of benefit to India because it is. Everyday I am seeing the way that foreign investment and increasing international trade are providing opportunies for more and more Indians.
However, there is still a huge divide in this country. But, increasingly this is a divide that India itself should be able to manage from it’s own wealth and resources. If India can develop a new civic mentality to match it’s growing economic gravitas, it will rewrite it’s own agenda with regards to relying on foreign aid. This is something for us in the west to ponder as we consider our own charitable giving.
[tags] India, Aid, Development [/tags]
