We Have Shot Ourselves in the Foot!

Last few weeks have been a mix of key news for India as far as am concerned.

The list of news is as follows

1. Launch of XOLO X900 by Lava
2. Google Measures Web speeds around the world
3. Deepak Parekhs interview with Shereen Bhan

What is so special about these news, well read on to find that out.

The first one is special because XOLO X900 is the first phone in the world to have an Intel chip , the Intel Atom Z2460 SoC chip inside it. All phones in the world run on chips made by UK company ARM . The XOLO is the first foray by Intel into mobile market and guess what it has been developed in conjuction with LAVA , an indian company. Although not the biggest mobile market in the world but this news shows the importance of the Indian market in the minds of worlds big corporation.

You can read all about the phone - 

http://www.gsmarena.com/intel_medfield_based_lava_xolo_x900_launched_in_india-news-4118.php

If you are smiling having read that, you have just had a pre mature good news , as the bad news is just to follow suit.

The second news that i heard was about a project that google carried out to compare internet speeds in many countries in the world. To be precise 50 countries.

The result was surprising. 

The top speed achieved in desktop/laptop based internet speed was in Slovak republic and the best speed in mobile internet was in Chile .

I was searching for the name that i was most interested in the list " India". Well India did not score well to enter the top ten countries in either list.

Did we then come in the top twenty , the answer was a big NO . The internet speeds were so poor that we came in the bottom ten in both the categories.

Reading the news i felt appalled .  Read full story below.

http://go.bloomberg.com/tech-blog/2012-04-19-whos-fastest-google-measures-web-speeds-around-the-world/

If that was not enough , the shocker came from the man whom i have always considered as the flag bearer of Indian corporations the most respected business man in Indian and world circles - Mr Deepak Parekh.

In an interview with CNBC TV18 , Mr Parekh lashed out at the indian government for not being able to push through reforms.

He also made two alarming references

1 Foreign Investors , companies inclusive are reluctant to invest in India , due to unfavourable investment climate

2 Two years ago , India was the darling of the board rooms of world corporations, now we are not on their radar.

That should shock any one who is even remotely interested and wants India to grow and become the torch bearer of the world economy for the ensuing economic periods.

Mr Parekh neatly summarized - " We Have Shot Ourselves in Foot" .

Watch the video here .

http://www.moneycontrol.com/video/economy/govts-7-75-growth-target-over-ambitious-deepak-parekh_693652.html?utm_source=Article_Vid

The Excerpts of the interview here

http://www.moneycontrol.com/news/economy/govts-7-75-growth-target-over-ambitious-deepak-parekh_693652-2.html

Apart from the above , There has also been a new book called " Breakout Nations" by Ruchir Sharma ,  head of Emerging Market Equities and Global Macro at Morgan Stanley Investment Management.

In the book , Mr Sharma has been too pessimistic about India and its growth prospects , in general he has been pessimistic about whole of the BRIC countries.

Right from Retrospective taxes for which Vodafone is going to take India to court, through to the latest thoughts from key business leaders, there isn't any room for India Shining!

We seem to have risen meteorically and now find ourselves fading away .

Doesn't make for a good reading .

Hope things get better over the coming months & years.