Tuesday, April 8, 2008

Incredible India!!

Stuff I got from Fortune Global Forum about India-

India is the 4th largest economy after USA,China and Japan in terms of Purchasing power parity and is among the fastest growing economies in the Asian Region.

GDP Growth in FY 07 has been 9.4% and strong growth potential is in the future.
Sector wise the GDP Composition is
Agriculture - 20%
Industry - 26%
Services- 54%

India accounts for 2.7% of the world's agriculture production and ranks 6th in the world.
World's largest producer of milk,sugarcane and tea, and the second largest exporter of rice,wheat, fruits and vegetables.

The software sector along with the IT enabled services employs over one million people in India.
Exports of software and ITes grew by 35% in 2004-05.
India's imports and exports have increased threefold since 1990-91 as a direct result of liberalization.
The middle income households or the consuming class are expected to grown from 35% in 2006 to 48% in 2010.
With a stable 9% annual growth, rising foreign exchange reserves of over US $190 billion, a booming capital market, increase in flow of foreign investment,
India is emerging as the prefered destination for global investors.

GDP share of Indian billionaires' wealth is more than four times of the global average also. Forbes magazine put the combined wealth of all 1,125 billionaires in the world at 4.4 trillion dollars, which is just about seven per cent of the world's total GDP size. ""

If it's investment, it's India.
From software giant Microsoft to telecom biggies Nokia and Samsung to auto majors Honda and Toyota, global players now eye India as the most attractive destination for investment.
December 2005 alone saw a number of global business leaders in India lauding India's great economic prowess and making huge investment promises.
Microsoft chairman Bill Gates, during his visit to India, announced that the company would invest $1.7 billion in India over the next four years to expand its operations.
"India has a fantastic pool of software professionals. The world needs to benefit from this. I never thought with so little product companies software services sector will grow so strong as it has grown here," Gates gushed.
Toyota Chairman Okuda Hiroshi praised the quality of products made in India, which he said was better than even Japanese companies.
While billions of dollars have been committed to boost business in India, it needs to be seen how much of this actually turns into reality.

More links
http://www.indiainbusiness.nic.in/business-news/media_report.htm
www.incredibleindia.org

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