• Tuesday, November 24th, 2009
Though it seems highly unlikely, India’s economy has a new antagonistic presence – that of the country’s throbbing veins – the road network. The plans to expand and strengthen the national highways have so far been over ambitious. Even today, as India strengthens its presence as an international trade entity, the internal trade suffers because of poor quality roads and a sordid state of affairs as far as the national highways are concerned.
A brief look at statistics simply reasserts the worst. While in developed countries, goods carrying trucks are able to cover about 800 km per day, Indian trucks are only able to cover about 350 Km per day on an average. This is because the roads are so bad that the average speed is a mere 20 Km/hr.
There has been some development in this regard. However, poor road conditions continue to wreak havoc for those whose livelihood depends on transportation of goods. Besides the low speed, there are also delays at every checkpoint where not only are truck drivers detained indefinitely, but money is also demanded of them.
A recent study has shown that every year the economy loses out on about $600 million because of the constant delays. This however is not all. One can add about $5 million that is wasted in terms of fuel because of the stoppages and the slow speed.
The volumes of the freight keeps on increasing by about 9.06% every year. However, as compared to the increase in the volume, only about 3.77% of roads are added to contain the volume every year.
Category: Infrastructure
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Tags: 5 Million, Average Speed, Checkpoint, Developed Countries, Havoc, India Economy, India S Economy, International Trade, Livelihood, Low Speed, National Highways, Poor Quality, Poor Road Conditions, Quality Roads, Slow Speed, State Of Affairs, Stoppages, Transportation Of Goods, Truck Drivers, Veins |
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• Friday, November 06th, 2009
India’s economy has finally come of age. In the last five years, there has been phenomenal change in the global trade of goods and services in India. In fact, today the global trade makes up for almost fifty percent of the gross domestic product of the country. This, of course, is good news considering the fact that even after being isolated for years after independence, Indian economy is finally integrated with the global economy.
This growth in the contribution to the GDP itself is a giant leap considering that about five years ago, the goods and services sector made up for only 30.9% of the entire gross domestic product.
There has been a greater openness in the world as far as Indian services are concerned. The trade of merchandise has seen a 57% increase in the last five years. The services trade has also seen a significant growth. Though the ongoing global economic slow down has caused some unrest and has also interrupted India’s growth story, it is believed that this interruption is only temporary and brief. The continuing economic reforms and the government’s proactive interest in improving international trade and bringing India on to the map of global trade
Category: Economic Growth, Government
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Tags: Economic Reforms, Gdp, Giant Leap, Global Economy, Global Trade, Gross Domestic Product, India Economy, India S Economy, Indian Economy, International Trade, Interruption, Map, Openness, Phenomenal Change, Proactive Interest, Recession, Slow Down, Unrest |
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