This is surely one of the most difficult questions encountered and since each and every segment, Privatization has its own merits and demerits, it’s indeed insanely stupidity to draw a conclusion so early. There is no doubt that the saga of globalization in India has helped Indian Economy to a large extent. It has been playing a decisive role (since its official instigation in the early 90s) in export-led growth, bringing about the growth of aboriginal job market in addition. In this regard, IT and BPO services play commendable roles. It happens to be one of the key forces of globalization in the sphere of India and also accountable for revitalizing the declining job market (of once) in the nation. The notion of market reforms has affected the Indian social scenario to a large extent too. There has been surfacing of a new middle class, unlike that of the past and this is regarded as the outcome of affluence of private industries in the length and breadth of the country. Numerous instances can be cited to prove how widely acclaimed multinationals have done outstandingly well in India. Some of these are Coca-Cola, Kentucky Fried Chicken, Pepsi and McDonald’s. There have been some other major developments. Owing to mounting competition, the lackluster standpoint and style of work of Indian PSUs has changed a lot and to cope with the changing reality, they are also found to move on at a great speed. However, in spite of all these, some serious questions are coming up. Even if we take the chronicle of development into account, it will be found that a specific sector of India has procured the benefits while the others are left in the lurch still. The government accountability, compare to earlier decades, has eroded steadily. Studies do confirm that two India exist side by side – while one of these is shining, the other one is suffering. Can any development there be ever altogether? It can’t be – suffering India and her attributes will pull its shining counterpart from behind. To save the country from this despair, the government must coalesce public accountability with the benefits of privatization.
Privatization in india India is observing substantial privatization in many fields but may not be very helpful in all the instances. There are many sectors that are left untouched by the private sector and there are those which are privatized but still incompetent to the expected levels. So just letting in the private sector to make deals with public sector may not solve the problems until the dealings are made with more positive aspects on the public domain
Privatization is beneficial to a certain extent but by as created many job in the market and hence has given a helping hand in the issue of employment. Secondly, many big organizations have also given a hand in infrastructural support, and have given our country a new vision and growth. They have empowered India to attain the level of Globalization and helped it to successfully permeate the International markets. However, even after all these, 100% privatization will not be a good decision as it will lower governmental and judicial influence, which are very necessary for any country to function properly.
yes obviously i think privatisation will only help india as there are no hopes with the government helping india come up. if government agrees to introduce public and private partnership in various sections. privatisation will also help to make efficient use of resources and it would be rather corruption less working body.
in my view privatisation would surely help india but there is lot of privatisation already. there is barely and public sector seen at high rise. government must plan to privatize certain areas where public domains cannot be established and rest of the areas should be taken up by the public sector applying good infrastructure and workforce.
It has already helped and one can see this after the industries and multi national companies have come up in india. The public sector is doing meager on the development and infrastructure. If public-private partnerships come up, i think there would be good development of infrastructure and services.
Indian Industries: Over past years, major income source of Indian population has been agriculture. But slowly India developed proper infrastructure for its speedy industrialization, achieving autonomy in various capital products production. Indian industries' productivity incorporates vessels, aircrafts, automobiles, chemicals, steam engines, computers, power generation tools, etc.
India's Growing Private Sector: India's GDP grew at 1.4% per annum within 1940-1970. Post 1980 India achieved impetus in middle-1991, with historical upsurge in GNP per capita in 1994-1995 with 8.4% output-growth. In 2000s Indian foreign-exchange-profits are around $20 billion with account arrears less than 1% GDP, food stocks increased by 37 m tones.
Privatization has helped the aviation sector, the banking sector, the telecom sector in a big way! And its a certain fact that privatization will continue to help in India, provided the government utilizes the private sector to the best of its ability.
