Less corruption, higher GDP

India can add $20 trillion to its GDP if it becomes less corrupt, Prof
C.K. Prahalad, Paul and Ruth McCracken Distinguished Professor at the
University of Michigan, said here on Tuesday. Speaking at a seminar
organised by the Indian Chamber of Commerce on “India @ 75: The
Emerging Agenda”, Prof Prahalad said: “If India could graduate from
the current 125th position on the global list of most corrupt nations
to the position of the US, it will add $20 trill ion to its GDP.”
Graduating to the 12th or 13th position will help India achieve this
feat, he said, adding, “It is not even necessary to reach the position
of Finland or Denmark who top the list. We have to believe in a
different India and take corruption as an act of terrorism. Two
million people dying of hunger in India is as much a terrorist act as
100 people dying in a bomb blast.” Pointing out India’s strength in a
global economy, Prof Prahalad said, “India is known for its human
resources with 200 million college graduates and 500 million trained
workforce.” No corrupt country develops its human resources and
therefore ends up accumulating wealth only in selected pockets and
does not achieve inclusive growth, he pointed out.

Source: Business line