PAKISTAN MUST ACCEPT INDIA’S OUTSTANDING ECONOMIC GROWTH.

World News

Islamabad: It is time for Pakistan’s military, bureaucracy, politics, business, and everyone else to accept India’s tremendous coming of age as a country, argues Mosharraf Zaidi in The News International.

When General Musharraf unleashed the Kargil disaster on the Pakistani people in 1999, India’s GDP was just over USD 450 billion, but it is now at USD 3.18 trillion, according to Zaidi.

India’s ability to sit at the global table today is in a different league – nay, universe – than it was in 1999. India has put on what Zaidi refers to as “big boy trousers,” he says.

Pakistan’s economy is roughly one-tenth the size of India’s, with a GDP of around USD 350 billion.

According to Zaidi, the myth of economic parity, if it ever existed, is beginning to dissolve, while India’s economic growth story has only just begun.

Morgan Stanley expects India’s overall GDP to expand from USD 3.18 trillion to roughly USD 8 trillion by 2030, or in less than seven years.

Currently, India accounts for 2.2% of world exports. Morgan Stanley predicts that this will reach to 4.5% of global exports by 2030. Approximately the next seven years, India’s retail market is predicted to more than double to over USD 1.8 trillion.

Most crucially, per capita GDP is anticipated to rise from USD 2,278 to USD 5,242 per year. The proportion of Indian homes with an annual income of more than USD 35,000 is predicted to rise from 5.6% to more than 25% of all Indian households. According to The News International, this means that one out of every four Indian households will be in thThe majority will be driven by highly educated persons. The majority will be consumers of high-end items. Because the upper-middle-class Indian would be the world’s most sought-after consumer, the Indian star will be the highest paid on the planet. India is on its path to becoming a country with a lot of rich people, levelling up their entire economy by 2030, from being a country full of poor people.

e global middle class.

Of these rewards, the most powerful is the transformation of India from a poor country full of poor people to a rich country with an ever-increasing number of rich people, reported The News International.

And this is what explains – from Abu Dhabi to Tokyo, and from Washington DC to Canberra – the red carpet that is laid out for Prime Minister Narendra Modi almost everywhere he goes.

Meanwhile, internal disquiet in Pakistan, including the unsustainable and unconstitutional interference of the military in civilian affairs, the incompetence of its policy elites, and its dysfunctional economic affairs, all merit a serious set of transformational reforms, said Zaidi.

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