information technology enabled services and india s growth prospects t n srinivasan yale university may 13 2005 brookings trade forum introduction development of it sector indian diaspora ites analytics the in process constraints future conclusions 1 soviet style inward oriented state directed strategy 1950 80 average annual gdp 3 15 acceleration to 5 7 fueled by fiscal profligacy debt accumulation but also hesitant reforms macroeconomic crisis 1991 drops 92 cont recognition failure following collapse system rapid china after its opening systemic initiated rate accelerates 8 1996 97 thereafter fluctuates low 4 2002 03 due drought high 2003 04 recovery from 6 9 2004 05 same expected 06 lags far behind share world merchandise exports 0 vs does relatively better
