India: Third Ranked World Economy

Academics

rev102_economia.jpgBy Rafael Pampillón published in IDEAS, IE Business School alumni magazine

After Vietnam, India is the world economy that will enjoy the highest growth, with a forecasted yearly average growth rate of 8.5%.

Almost everyone agrees that the country in the starring role during the first half of the 21st century is China. But no one has any doubt that the second half of the 21st century will also feature India as a protagonist. The largest populations in the world â?? for some years now both countries have been implementing reforms enabling change of their economic model, from high-intervention to market economies. These reforms have consisted of ambitious economic policy strategies that have meant greater internal deregulation, and opening to the exterior, that have produced high economic growth rates. This growth process has been accompanied by reductions in poverty levels in both China and India, although, unfortunately, social and regional inequality has increased. All this means that the governments of both countries continue to prioritize the adoption of measures for maintaining or even increasing economic growth, to raise the populationâ??s level of per capita income, and to generate a higher level of wellbeing to allow sustainable development.Economic structure
As a consequence of the economic reforms, Indiaâ??s productive structure has undergone notable changes over the last 15 years. Transformations in the production system led the services sector in 2006 to generate 55% of the GDP, industry 27%, and agriculture 18% (see table 1). Services use 27% of the working population, and also represent the sector with the highest growth rate. In the Services sector as a whole, special mention must be made of the information and communications technologies (ICT) sector which is expanding in a sustained manner and growing at a yearly rate of 25%. The success of the ICT sector in India has had a significant impact on the countryâ??s economic productivity. The arrival of the digital age, and the new workforce with a high level of education and the ability to speak English, has gradually transformed the country into an important destination for international companies looking for technological support.

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Ferran Adrià: The Alchemist of the Senses

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ferran-adria1.jpgFerran Adrià is featured in the current edition of the IDEAS magazine, the IE Business School Alumni Magazine. Read this interesting interview with the considered to be best chef running the considered to be best restaurant in the world, in Spain!

Today, he has become a living legend of the gastronomic universe. His proposition? Demonstrate that cooking is the best expression of intelligence and creativity.

There is a clear connection between Ferran Adriàâ??s work and the various artistic and philosophical trends of the 20th century, from surrealism to the new critique of the theoretical movement of deconstruction… His gift can be compared with that of other Spaniards, such as the painters Salvador Dalí, Pablo Picasso and Joan Miró, or the film director Luis Buñuel.â? These have been the arguments put forward by the Scottish University of Aberdeen to award Ferran Adrià the title of doctor honoris causa in Humanities â??for his contribution to contemporary thoughtâ?. The comparison Aberdeen made between Adrià and artists who have stood out -but until recently of minor importance as far as the Spanish public is concerned- is surprising at the very least. It would appear that eccentricity is more recognized than excellence, as if both qualities were incompatible and the â??fusionâ? never happened.The son of a plasterer, he preferred not to do a degree in business and launched himself on the adventure of finding summer work in restaurants and tapas bars on the Spanish coast. However, destiny had already outlined his name in capital letters. During his military service in the Navy in Cartagena, he decided to accept a friendâ??s proposal to start work as the kitchen hand in elBulli, a restaurant already of known prestige of which, interestingly, he had not heard until that moment. The restaurant was located in Cala Montjoi, 6 km from Roses (Gerona).

Today, elBulli has three Michelin stars, opens only seven months a year, and offers almost zero possibility for booking a table. All thanks to the genius of this masterchef, a simple man of few words, but owner of a brain that is constantly simmering.

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IE Global MBA – a personal experience

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Gary Delaney is current student of IEâ??s Global MBA program and talks about his impressions of the program. Gary is involved in technical security and risk management being an SME in architecture, incident management, forensics and security strategy. He worked in financial institutions and security consultancies in Ireland, UK and Australia and is currently employed…

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