How Apple is becoming new hope for India !
'India has big potential to become a economic superpower in future'. We have heard this for decades. Yes, we are the fastest-growing major economy, yet our per capita GDP ($2800) is a fraction of U.S.($88000) or even China ($14000). But, forget the U.S. they industrialized a century before us. The real shock is China, whose GDP was neck-and-neck with India's until 1990. Today? It's 5 times larger. But, how the difference got so bigger? India too have grow 6-7% per year! Answer is 'Manufacturing'. While China's export-driven economy was growing at 10-12% annually in the 2000s through manufacturing dominance, India's policymakers remained blind to this economic truth. The numbers speak for themselves, between 2000-2010 China constantly sustained GDP growth above 10% (peaking 14.2% in 2007), Their export skyrocketed from $250 billion in 2000 to $3.5 trillion in 2024 and a...