About

Tuck India Business Conference

Tuck has been at the forefront of addressing the rising pre-eminence of India in global business through its educational offerings and events such as the Tuck India Business Conference. The Tuck India Business Conference provides an opportunity for thought leaders, business leaders, entrepreneurs, professionals, investors and students to discuss their strategies in the context of an emerging India.

TIBC 2008

The Center for International Business at the Tuck School of Business at Dartmouth held its second Tuck India Business Conference on May 9th, 2008. The conference provided an interactive platform for thought leaders, businesses, students, entrepreneurs, and investors to share ideas and learn about the opportunities presented by India's phenomenal growth. Eight preeminent leaders in wide ranging fields of expertise shared their thoughts on the current state of economic affairs in India, and the conference received an overwhelming response from both the business and the academic community.

India

In recent years, India has been one of the fastest growing economic powers. While GDP growth declined somewhat during the global financial crisis, growth rates have returned to pre-crisis levels of over 8%. India's highly educated and technologically savvy workforce has been a strong driver of growth – nearly half of India's export income comes from the export of services. While there has been much focus on India's service export, India also plays a more complex role in the global economy. With an ever-growing middle class, India has been a top purchaser of U.S-made products ranging from healthcare equipment to industrial products to consumer goods. As a highly innovative nation, India also has strong potential to export its own branded products. As India continues to grow, it does so in the face of limited resources, lacking infrastructure, and high income disparity. An estimated 25% of the population still lives below the poverty line. We predict that India will rise to these challenges and prevail as a strong global player.

Facts & Figures

  • The economy has been growing at an average growth rate of 8.4% in the last six fiscal years (2004 - 10 ). GDP growth dipped below 6% in 2009 in light of the global economy and other domestic issues. Since then, GDP growth has returned to levels over 8%. GDP at market prices has increased from US$ 20 billion in 1950-51 to US$ 1.4 trillion in 2010 and purchasing power of US$ 4 trillion. Between 2002 and 2009, U.S. goods exports to India quadrupled from $4.1 billion to $16.4 billion. During the first eight months of 2010, U.S. merchandise exports to India totaled $12.7 billion, an 18 percent increase over 2009 figures.
  • The proportion of people living below the poverty line in India has declined from 51.3% in 1977-78 to about 25% in 2010. But in absolute terms they still number around 300 million
  • More than one third of Indians, 1.1 billion people, live on less than one dollar a day. But India has achieved an enrollment ratio of 95% in primary education. Of the children in school, 73% are now reaching Grade V.
  • As the Indian economy grows and draws more people into the development process, it has taken care to provide a safety net for the poor. India has a guaranteed wage employment program that assures to the poor work for 100 days in a year and provides them a wage of Rs. 80 (or US$ 2) per day.
  • India is also on target on elimination of gender disparity in primary and secondary education [1]

You cannot help but agree with the Indian Finance Minister who said, "On August 15, 2007, India turned 60, still a young nation. It is also a young nation in another sense. One-third of the population is below the age of 15 years. India is the only large country in the world where the size of the working age population will grow - and will exceed the number of dependent children and old persons - until 2025, the year up to which projections of population have been made, and perhaps even beyond till 2045. The size of the work force will grow, incomes will grow, savings will grow and investments will also grow. The challenge is to seize the opportunity and turn India into an economic powerhouse.[1]

[1] Indian Finance Minister's speech at the Oslo: http://pib.nic.in/release/release.asp?relid=32151