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Post-independence growth in the 1970s, 80s and 90s was uneven, and India was unable to create enough manufacturing jobs for its educated people. Many, especially engineers, moved abroad for economic opportunities, but those who stayed established world-class software businesses, leading to a new wave of globalization in the 2000s and IT hubs such as Bangalore, Hyderabad, Chennai and Pune. Gave birth to centres. Those who left have become CEOs of multinational corporations ranging from Citibank to Mastercard, Microsoft, Google, Deutsche Bank, SoftBank, Pepsi and Chanel. India is now an important part of the digital services supply chain.
Now is the time for both countries to reconnect with their past, which was linked first by knowledge and then by trade. India was the birthplace of profound civilizational ideas long before Greece. It attracted Chinese monks and travelers who translated Sanskrit literature extensively into Chinese for years.
It is important for two important Asian countries to understand each other directly. Both countries have dominance. At 1.4 billion each, they account for 37 percent of the planet’s people, and about 30 percent of world GDP – including 19 percent in China, and about ten percent in India.
Whichever way they lean, separately or together, matters. This will change the global direction.
(The author, Manjit Kripalani, is co-founder and executive director of Gateway House: Indian Council on Global Relations, a foreign policy think-tank established in Mumbai in 2009.)
(Content provided by Beijing-based China-India Dialogue.)
