It is almost a cliché to describe India as rich…

It is almost a cliché to describe India as rich in institutional infrastructure and poor in physical infrastructure.

Characteristics, Infrastructure

By: P Chidambaram. Source: A Passage to Prosperity

Other Economy of India Quotes

the train has left the station… - View Quote Details on the train has left the station…
…in July 1991… with the announcement of sweeping liberalization by the minority government of P.V. Narasimha Rao… opened the economy… dismantled import controls, lowered customs duties, and devalued the currency… virtually abolished licensing controls on private investment, dropped tax rates, and broke public sector monopolies…. [W]e felt as though our second independence had arrived: we were going to be free from a rapacious and domineering state… - View Quote Details on …in July 1991… with the announcement of sweeping liberalization by…
We have believed and we do believe now that freedom is indivisible, that peace is indivisible, that economic prosperity is indivisible. - View Quote Details on We have believed and we do believe now that freedom…
“…The ease with which firms are able to enter into and exit from business activities is an important determinant of the investment climate. For business start-ups, a large number of clearances have to be taken both at the Central and State level. Such a system introduces delays and creates avenues for corruption. Studies show that with a heavy regulatory burden on business, India still ranks in the bottom quartile of comparable nations in the ease of doing business…. Indian labour laws, particularly Chapter VB of the Industrial Disputes Act, 1947, allow firms less latitude … Small-scale reservation has not succeeded in producing the expected results, and has constrained investment in some critical sectors, such as knitwear, with large growth potential. There is little justification for continuance of such reservations…. Easing the entry-exit barriers will be critical…” - View Quote Details on “…The ease with which firms are able to enter into…
The doctrine of controls and regulation on private enterprise led to: “a nightmare… [a]n untrained army of underpaid engineers… operating… without clear-cut criteria, vetted thousands of applications on an ad-hoc basis… months in… futile microreview…. again lost months reviewing the same data… interministerial licensing committee… equally ignorant of entrepreneurial realities… also operat[ing] upon ad hoc criteria in the absence of well-ordered priorities…. seek approval for the import of machinery from the capital goods licensing committee… foreign agreements committee… state financial institutions. The result was enormous delays… years… with staggering opportunities for corruption…” - View Quote Details on The doctrine of controls and regulation on private enterprise led…
The village communities are little republics, having nearly everything they want within themselves, and almost independent of any foreign relations. They seem to last where nothing else lasts. Dynasty after dynasty tumbles down; revolution succeeds to revolution; Hindoo, Patan, Mogul, Mahratta, Sik, English are all masters in turn; but the village communities remain the same… If a country remains for a series of years the scene of continued pillage and massacre, so that villages cannot be inhabited, the scattered villagers nevertheless return whenever the power of peaceable possession revives. A generation may pass away, but the succeeding generation will return. The sons will take the place of their fathers; the same site for the village, the same position for the houses, the same lands, will be occupied by the descendants of those who were driven out when the village was depopulated… - View Quote Details on The village communities are little republics, having nearly everything they…
Source: Air Travel Takes Off In Booming India - View Quote Details on Source: Air Travel Takes Off In Booming India
God forbid that India should ever take to industrialism after the manner of the west… keeping the world in chains. If our nation took to similar economic exploitation, it would strip the world bare like locusts. - View Quote Details on God forbid that India should ever take to industrialism after…
When Robert McNamara was president of the World Bank, he visited Dharavi, near Mumbai airport, then, as now, one of the largest slums in the world. Looking at the abject poverty in the shantytown, he broke down, possibly realising the enormity of the task ahead. - View Quote Details on When Robert McNamara was president of the World Bank, he…
We need not feel embarrassed to advocate economic nationalism…Our government functionaries also must not feel shy to work closely with business. Jointly they should ensure that India’s economic interests are protected — through trade, investment, and foreign policy measures.. - View Quote Details on We need not feel embarrassed to advocate economic nationalism…Our government…