2010: Year of India? From cinderella to superpower

Celebrated in Oscar-winning films (Slumdog Millionaire), once the Cinderella of Asia, now on a powerful rise, India sees the year that has just begun as a turning point. In fact, it is a candidate to become the protagonist of the 21st century, even with more chances than its rival-friend China, the United States, and Europe, which is increasingly searching for a political and economic identity.

In the past 12 months, the state led by Manmohan Singh has managed to. First to emerge from the financial crisis and to deploy its great potential, especially in the energy sector. But let's start from when the most populous country on the planet shifted gears.

Why it will be India's year

In the past decade, India has experienced a true economic miracle, which has led it to be the second-largest country in terms of GDP growth worldwide. A recent study (India 2039: an affluent society in one generation, a report by the Asian Development Bank for the Emerging Markets Forum) projects India's future as the second-largest economy in the world, predicting a shift from 2% of world GDP in 2007 to a possible and likely to reach stratospheric levels 18%, exactly twenty years from now. To translate these forecasts into concrete facts, the current and future governments (whichever they may be) will have to realize the enormous development potential deriving from human capital and the domestic market, integrating them into a reform of their political-administrative system.

Prominent among the challenges to be faced, and overcome, is the energy challenge.
It should be preliminarily considered that despite positive expectations, More than half (55%) of India’s population currently lacks access to electricity. A significant figure, caused both by the strong demographic increase and – above all – by the large incidence of rural areas on the territory. India is working hard on this aspect and has prepared an ambitious national energy plan.

The goal, in addition to energy accessibility for the people, is to achieve a progressive diversification of supply sources. Today, there is a massive presence of coal-fired power plants (a fuel that India is very rich in), oil, and nuclear power, but the future is designed to be “green.”.
The new Plan aims to be producing 20,000 megawatts of solar power in ten years, expanding to 100,000 MW by 2030 and 200,000 by 2050. Gigantic figures, as well as planned investments of about $160 billion.

Not just “green energy” though, in the plans of the Indian establishment. With the intention of increasing its presence in Africa, India has signed a memorandum of understanding with Angola, offering broad collaboration in the fields of Angolan oil and gas and neighboring countries. The document was signed between the Indian company ONGC Videsh Ltd. and Sonangol, Angola's state-owned company. The text outlines a framework for strategic cooperation between the two states in the oil sector, to be consolidated through investments and research in deep waters. The agreement specifically covers oil production, natural gas, the construction of a refinery and the modernization of existing plants, and the training and consultation of Indian experts.

ALSO READ:

The success of Italian companies in India

Internationalizing your business abroad: strategic choice or opportunity?

Digital export manager (DEM): internationalization in a digital context