India is booming today - with self confidence and perhaps a bit of arrogance. There is no doubt that today India along with China is on the verge of becoming super power. The Indian economy at the first place got an opportunity of life time basically due to deep rooted problems in the western economies. West started looking to India and China as solution to their problems. Hence both have emerged as dominant powers in Services and Manufacturing respectively. Leaving aside China for a moment, India cannot assume that the problems in West would remain forever and that results in perennial opportunities. However, Indian politicians have still opportunity to make India a standing global power if and only if they do not make any mistakes:
1. Lack of vision: Indian politicians lack a vision of the India. Except for making emotional statements, most of the politicians are looking for near term gains than long term opportunities
2. Growing economic divide: The gap between rich and poor is becoming too much. In relative term the earning are growing but in real terms the difference is too much. As a result, the so called the middle class is in danger of disappearing
3. Regional imbalances: The South and North divide; urban and rural divide - all this perhaps may grow further if right policy decisions are taken
4. Religion and Caste: The two time bombs or perhaps any politician can use it to destabilise the society and economy
5. Changing society and morals: Indian society is westernising at fastest rate and this will lead to irreversible social changes in coming decades and will impact (negatively) all the aspects of the social life
6. Health care: The problem west faces today will come to India soon. India is expensive for health care for its citizens. That it may be relatively cheap in terms of western standards make little difference to Indians.
8. Old age problems: In 20 years old age care would be biggest challenge for the Indian Government and society
9. Super powerful corporates: Tata, Reliance, Bharti and so on, all these corporates have now become entities in every aspect of India life. Sooner, these corporates become too powerful (or may have become now), to change the destiny of the country in any direction. These kind of powerful entities are unprecedented in any other country
10. Education: Education is now getting out of reach for the middle classes.
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