Joe Shearer
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But they do well in software. Also their banking is good. I have been to Africa, many Indian bankers are there, many projects are done by Chinese, but Indians offer some service to Chinese state-owned company. As I said, there must be something good from India. I am waiting for reliable Indian's reply
There are hugely different reasons for software and banking being successful features of the Indian economy.
Banking was sound but undistinguished until Indira Gandhi, in a bid to outflank her political rivals, presented a number of populist programmes in the 70s.
She came to power as a default candidate, sponsored by powerful bosses in the Congress who thought that this dumb doll would be easy to manipulate. In order to break away from their control, she put up her Owen candidate in the presidential elections, won it, and then launched an attack with these programmes. Nationalizing the banking industry was one of them. What followed was an unprecedented expansion of the banking system, on the grounds that ordinary citizens should get service. As a result, we get services quicker, cheaper and at anymore locations than I have seen elsewhere. This is not to gainsay the numerous problems that need fixing.
Software is another story.