Indian economy is a testimony to fundamentally weak economy. We can boast only of services sector alone ,but services sector can never be consider as creating strong economy. Indian market has become a puppet in hands of foreign players and government an agent in helping them established their footprint.
Another reason that makes our economy weak is the high level of corruption which prevents foreign companies to invest in India. Union ministers do not give clearance to foreign projects until their portion of bribe has been transferred; social groups come in for halting the development of a financially weaker area. Prices in India are higher due to corruption in the working system of the country.
We are unable to feed our people using our own products as our manufacturing has slowed down the growth of the population. This probably because political class hardly cares about the country instead they are busy filling their own coffins. When we have such species of politicians present, it looks very difficult for Indian economy to become fundamentally strong and we can never think that our exports would surpass our imports in coming years, until government focuses on local manufacturing and rises import duty without thinking of their individual benefits before nations.
A weak manufacturing economy can never be fundamentally strong economy and people should not live with notion that our economy is fundamentally strong.
rohit gedam-SCIT MBA(ITBM)2013-2015