Going by economic measures, India is a globalization success story. Average incomes, rising at 3 percent to 4 percent a year, have doubled since the mid-1980s. Dynamic new industries have emerged, most visibly in the high-technology hubs of Bangalore and Hyderabad. Foreign investment, while still dwarfed by flows to China, has grown from $1 billion a year in the mid-1990s to $5 billion this year.
When we try to measure whether people's lives have improved, however, the figures tell a different story. Poverty has fallen far more slowly than one would expect, given India's economic success. One in three Indians live on less than $1 a day and India is still home to the world's largest conglomeration of malnourished people. Almost half of the country's children are underweight for their age - which helps to explain the two million child deaths each year.
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