[sbinews] 25, female, has put India on the top

  • From: sbistcbangalore@xxxxxxxx
  • To: sbinews@xxxxxxxxxxxxx
  • Date: Sat, 13 Dec 2003 07:50:59 +0500

25, female, has put India on the top

When Deputy Prime Minister LK Advani referred to the now ‘quoted by everyone’ 
Goldman Sachs ‘BRIC Report’ – which predicts India will be No 3 in terms of US 
dollar GDP by 2050 – at the ET Awards ceremony, he didn’t know there was an 
Indian couple sitting in London keenly following his each and every word. 

For Mr and Mrs Purushothaman, it was a moment of great pride. It was their 
daughter, the 25-year-old Roopa Purushothaman, an associate economist at 
Goldman Sachs, who had co-authored the much talked about report. 

Purushothaman herself is pleasantly surprised at the enthusiastic response to 
her report, which puts Brazil, Russia, India and China (read BRIC) at the 
forefront of the GDP charts in 50 years time. 

When she and her senior colleague Dominic Wilson, senior global economist and 
vice-president of Goldman’s Global Economics Group, started their work, they 
had no idea that the results would turn out to be so sensational. (Can India 
break into the top three before 2050?) 

“We first looked at the impact of demographics on spending in developed 
economies,” says Purushothaman. “Then we realised a better approach was to look 
at the bigger 

picture and the impact of shifts such as economic development. That brought the 
focus around to how today’s large emerging countries could grow.” A graduate of 
Yale and the London School of Economics, Purushothaman has been researching 
India since her student days. Her parents migrated to the US from Kerala 
decades ago, but have maintained close links and a lively interest in the 
country of their origin. 

Apart from frequent personal visits, Purushothaman has done several development 
studies based out of Bangalore, a city she plans to visit again before the 
close of winter. 

Today, Purushothaman is working on a number of detailed studies on India. Her 
latest piece has her examining parallel developments that support this growth – 
especially those related to development of human capital and R&D capabilities. 

“Everyone is curious Everyone is curious as to how India will sustain this 
services-led growth,” she says. “So far countries have grown on the back of 
growing manufacturing, but India is a unique case.” 

Though India may be ranked third in US dollar GDP terms by 2050, the BRIC 
report also predicts that the country will be way down the rankings in terms of 
per capita income, even though that will be up by 35 times the present level. 
In other words, the country will be among the richest, but its people may not 
necessarily be so. 

As Purushothaman points out, this is very different from what we see in today’s 
developed economies: 

“If you look at the largest economies today, they also tend to be the richest 
in terms of income per capita. But that does not hold for India in 2050 and 
this has very different implications for spending. India still has the most 
catching up to do in terms of per capita incomes,” she says. 


Mailing list (sbinews@xxxxxxxxxxxxx) related information:

News/articles about SBI and Banking related matters published  in the print 
media, Internet etc will be circulated through this Mailing List. 

The messages in this list will help in improving awareness of SBI and its 
activities vis-a-vis the happenings in the Banking industry. This should be of 
help to all staff members of SBI, particularly those who are preparing for 
promotional written tests/interviews/group discussions. Subscription to this 
Mailing List is simple and FREE. Please check the procedure below. Please share 
this information with other colleagues/branches that could be interested in 
subscribing to this Mailing List. 

The messages circulated here should not be deemed to have the official 
endorsement of the SBI or any of its employees. The correct factual position 
may be ascertained from official sources. 

To join this mailing list, just send an email to sbinews-request@xxxxxxxxxxxxx 
with the word 'subscribe' without the quotes in the subject of the email 

To leave this mailing list, just send an email to sbinews-request@xxxxxxxxxxxxx 
with the word  'unsubscribe' without the quotes in the subject of the email 

Archives (old messages) are available for viewing at:
Click on the month-year at the lower left corner to view messages posted during 
that month. 

This is an announcements/newsletter type mailing list i.e. only the Moderator/s 
can post messages to the list. 

This mailing list is maintained by Sri. R.S.Pai, currently working as Chief 
Manager(IT-Internet Banking), SBI, Corporate Centre, Mumbai. 
Moderator: Smt. S. Vijaya, CM (Training), SBI, STC, Bangalore.
Visit http://rspai.tripod.com for some useful Banking, Reference and Utilities 

Other related posts:

  • » [sbinews] 25, female, has put India on the top