The Rigors Of Cracling Indias Markets

The Rigors Of Cracling Indias Markets

The Rigors of Cracking India’s Markets
The economic reform of India is running at a rather slow pace. The government still control’s a lot of businesses and is not moving quickly to enhance the country’s growth. The Government should allow private investments in business. This would allow more growth opportunities and more jobs skills for the people of India.
The restrictions the government places on the media tries to cover the eyes and ears of the Indian people. The recent approval of satellites has enabled web access and the ability to read some international news, but there is still a need to loosen the restrictions so that the people of India are not shut out. The liberalization of the telecommunications industry has had a huge impact on the society and has increased phone sales dramatically. The service, which used to have a 5-year wait to be connected, now can be done in a couple of days. The government is also scheduled to lose its monopoly on the long distance service business as well. This should allow more competition in the market and thus more jobs for the Indian people.
Trade reform has had its share of problems as well. Even though India is a member of the WTO it still has certain barriers and restrictions in place. There have been many family businesses that have closed and the owners still have to pay their employees. There is a need for labor laws that would protect the employer and the employee.
Financial reform is a must if India wants to progress in the new millennium.
If the government would allow private investment companies to develop their financial markets, the interest of international businesses would surge. This would certainly attract foreign direct investments and boost the economy. With over 1 billion people I feel that many multinational companies would want to tap into such a huge labor pool. There is still a lot of progress to be made, but if the government continues to loosen its grip, this can only benefit the country as a whole.

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