Tuesday, August 25, 2009

Indian economy


I went to an Indian conference last week and learned that every year there are on average 29m children born in India. Of these, only 400,000 are eventually employed in "organised sector employment." Of the rest, 10m go into the agricultural sector, 8m into self-employment and 10.6m are left unemployed. The Indian government is concentrating resources on education and I met some impressive companies who are broadcasting lessons from well-qualified teachers situated in Delhi via satellite to thousands of children in village schools. The IT systems enable questions and answers and are a great step forward. The founders of one of these companies, resplendent in her sari and dripping with gold jewellery, explained to me that in the past, biology teachers used to have to draw arterial systems on a blackboard with chalk but nowadays the children can see the heart pumping the blood around the body on a computer which gives them a far clearer understanding.

4 Comments:

Blogger kinglear said...

I always remember that it was the gold from Indian that sank the price in the early 80s. Traditionally, India is a huge net importer- lots of it out of The Creek. A friend of mine, who was working out there at the time, spotted the gold coming back in, and as a result made a fortune selling when it was over USD800. And one would assume that a lot of the cash raised then is what started Indias rise to its present position.....

11:15 am  
Blogger Phidelm said...

Fascinating.

8:21 am  
Blogger Winchester whisperer said...

Hi KL - I hope he bought it back from GB and is selling again

11:01 am  
Blogger kinglear said...

A very well known fund manager insisted for his own personal family fund from GBs sales onwards that he would ONLY have physical gold and BofE certificates of deposit....

1:23 pm  

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