Letters: India's time has come

In making several weak points in the column, "Why India won't grow at 8% plus" (June 9), Shankar Acharya has overlooked two facts: India is now by far the biggest market opportunity for every major manufacturer in the world, especially manufacturers in India; and that it offers by far the best repayment potential for investments.

In a world where the developed countries are flush with funds and are looking for safe investment opportunities with the expectation of some positive return, the above two facts make 8-10 per cent gross domestic product growth a near-certainty in India, given its demographics and provided there is reasonably good governance.

In the next 20 years that window of opportunity will shift slowly to those African countries or other less developed nations that get their governance right.

Alok Sarkar Kolkata

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