Economic power without radiation power
At a growth rate of over 7 %, India had the strongest growing economy in 2009/2010 after China. Experts expect that, compared to the global economic powers, India’s Gross Domestic Product, after China and the USA, will rank in third position by the mid of the 21st century at the latest. However, these figures are misleading: in spite of the rapid development over the past years, most inhabitants of the country remain bitterly poor and in 2010 the country only ranked 2010 in 119th place of 169 of the so-called Human Development Index* of the United Nations (Germany: rank 10).
Although more than half of the working population have a job in agriculture, their share in the Gross Domestic Product is below 15 %. Many of the small farmers live near or even below the poverty level. Only 8 % of the workforce has a proper employment contract, which provides them with insurance cover in case of illness or workplace accidents. And job qualifications also leave a lot to be desired: only one of 20 workers has a vocational education and although 13 million of young people enter the labour market each year, there are only 2.5 million training vacancies available – future Indian governments will be faced with huge tasks. (Source of information: German Foreign Office)
* Apart from the Gross Domestic Product per capita, the HDI also takes life expectancy and the degree of education of the population into account. It is calculated by the United Nations.