Question

Compare the performance of India with other South Asian countries in terms of socio-economic development in the recent decade. Answer in more than 400 words.

Answer 1

India is one of the top performers in South Asia compared to other South Asian countries. In recent years after Modi government came into force, the rate of social, economic and technological development increased at a higher rate than earlier. India is one of the fastest growing nations in South Asia and the growth rate is 7.3% in 2019 according to the OECD report. Other South Asian countries like Sri Lanka, Pakistan, Afghanistan, etc., including China, have a comparably lower growth rate than India. But such a higher growth rate is also increasing the inflation rate in India compared to other countries but China, Thailand and other countries are also facing a trend of inflation in recent years. The Indian Government is trying to fight against the drawback of poverty by implementing different policies and by providing ration facilities for groceries and food items, the government also provide with transfer payments to the poor people who are below the poverty line so that they can make their own house. The government of India is currently looking for social development by way of providing more education and safety among the society and the women. The government also launched scholarship schemes for higher education of poor and women. The population growth also led to more urbanization in India and building of metro cities at a faster rate compared to others.

India lacks the growth rate for exports than other South Asian countries. The rate of export is less than 2% for India and as high as 12% for Vietnam and almost 15% for China as China exports to the US as well. But there had been substantial development in technology and infrastructure in India over the last few decades. India and China almost have the same capacity for innovation in research and development. The availability of engineers is increasing rapidly in India compared to other nations. But the availability of universities and institutions for research studies are not enough for carrying out research and development. China has better opportunities for such studies. India needs more development towards transportation facilities as well to cope with the increased population. BRT system has still not been set up India for transportation purposes which are quite cheaper with more capacity, while Indonesia, Thailand, Vietnam, and China have implemented BRT system since quite some time. India is one of the top 4 nations in South Asia with more households with self-owned cars with a rate of 30% and Cambodia has the highest percentage almost double than India at 61%.

India has the 2nd highest population in the world and one of the most highly populated countries in Asia. The density of its urban population is also very high; other countries like Singapore, Vietnam, and Cambodia have higher densities than India. Such a higher population growth rate in India is emerging into more poverty and inequality within the country. India also lacks in educational provisions and the quality of education and teaching professionals. Though the literacy rate is 86% in the country the knowledge among the people are comparatively low. And India is less equipped to face natural calamities like flood, drought, etc. while China, Vietnam, and a few other countries are more advanced in handling such situations.

With the introduction of FDI policy in India, there has been a major development in the country with more foreign investments. A lot of top MNCs are currently working in the country and it has provided with better employment opportunities for the youth and rise in national income and foreign money. India is more into technology when it comes to foreign investment than other South Asian countries and Bangalore is known as the Silicon Valley of India as it is the residence of the top IT hubs in the nation. The banking and communication sector in India also took a turn and developing simultaneously.

India has an unemployment rate of 8.5% whereas countries like Bhutan, Bangladesh, Sri Lanka, and Pakistan have much lower unemployment rates which are half as India's while Afghanistan and Nepal have very high unemployment rates. The rate of poverty is 22% in the country which is quite high, other countries like Nepal, Pakistan, Bangladesh, and Afghanistan also has a very high poverty rate. But Bhutan and Sri Lanka have a lower poverty rate compared to other nations.

India recently introduced GST as tax reform in the country and also introduced Adhaar card as Authorized Identification Card for official purposes, which is a major recent development in the nations among other South Asian nations. But the rate of corruption is quite high in India which is 36% and there is a lot of black money generation within the country. The sale of illegal drugs and drug addiction is rising in India gradually since the past years although the Maldives has the highest rate of corruption in South Asia.

So from the above discussion, we can conclude that India is one of the fastest growing countries in South Asia with respect to technological advancement, foreign investment and other social developments compared to other countries. Though the nation has certain disadvantages, pollution is also a part of it which is rising eventually with the increase in the number of vehicles within the country and more urbanization. India is consistently trying to lower its poverty and unemployment rate and trying to improve its education and culture to promote a better social environment. India has also taken different tax reforms and also invited more foreign investment within the country. It needs more government regulation and political stability for faster development rate compared to others.