Look at China. Although I started late, I made many mistakes and detours in the early stage, but fortunately, I made unremitting efforts in the later stage and was at the forefront of the world. Without abundant natural resources, most countries can only develop their economies through industrialization, which is not comparable to those oil-rich countries in the Middle East.
India, as the second most populous country in the world with a population of 65.438+0.3 billion, does not support India to rebuild its manufacturing industry first. Without the support of a stable industrial system, it is difficult for India to maintain a stable economic situation. In addition, India has too much foreign debt. Last year, India's foreign exchange reserves were only $42,854.38 billion, and its foreign debt has reached 1.4 trillion. India's debt service ratio is only 6.4%, which means that India still cannot solve the external debt problem, but it is still increasing its debt.
In this way, the interest on these debts is a very large consumption for India. At present, the most important thing for India is to improve the country's economic structure and choose a development route suitable for the national conditions, otherwise India can only lose money again. Most importantly, if you don't hear some praise from the outside world, you will be ecstatic. You must be steady and steady to achieve economic stability in order to develop better.