Well this is just being too much gloomy. We have a slowdown ofcourse but just looking at the numbers 2010 - 10.6% (higher than China at 10.4%) and 2011 - 7.3% based on IMF real growth figures and a projection of 6.9% for 2012 is not all doom and gloom
Ofcourse India should be able to do 9+% when all conditions are positive but given that EU will be contracting and have a -ve growth as a whole with countries like UK, Spain, France all going into a double dip recession and negative growth.
India still has and is projected to have the second highest growth rate among all major economies after China. Yes we should aim for no.1 but no.2 is not "bleak" and doom and gloom.
The link below has some good data with historical graphs and world comparisons rather than just photo slides with text next to it
7 reasons why India's economy won't collapse as feared - Business News - IBNLive
The major hurdles are reforms ofcourse, particularly the GST reforms which would be a major breakthrough if they get through with the constitutional amendment. On the International level, 2014 is the time when we might have another major EU crunch and defaults/restructiring with a number of EU countries going into recession which can have another negative impact for India. In the mean time, we should be seeking out markets in Africa, Latin American , WANA and ASEAN to move away from too much dpeendance on developed economies.
