In the global economic scenario, Indian economy is one that catches all the attention! And why wouldn’t it? Indian economy has shown stupendous growth in the past decade. The country popular for inherited treasures and riches was actually drifting towards being a poor nation that could hardly feed the mouths. But thanks to the strategic planning, consistency and uphill struggle, India has now turned the tables completely, not just shutting the mouths of the critics, but also raising the eyebrows of those looking for a destination to invest. With an average growth of significant 7% since past last 15 years, Indian economy has successfully reduced the poverty rate by 10%. Now, that’s quite an achievement worth applause.
Indian GDP grew 9.6% in 2006, 9% in 2007 and 6.6% in 2008. Despite the current global economic crisis, India has still managed to the highest degree to stand tall along with China, which is the fastest recovering nation in the world (India being the second!). The 10th most industrialized country in the world, India is also the 4th largest nation in terms of purchase-power parity.
Various steps, reforms and developments in terms of simplification of the investment procedures, liberalization in trade policies, enactment of competition law, assurance to protecting intellectual property rights, liberalization of exchange regulations, industrial decontrol to name a few have together attracted many potential investors overseas to invest in India. India offers an open-minded, lucrative and investor-responsive atmosphere for the FIIs to take a plunge into the Indian economy and benefit from it.
India is a popular nation among tourists, adventurists, archeologists, and those who want to take an in-depth study of history, mythology, occultism, gemology, and numerology. But yes, Indian science and economics too has been quite known since times immemorial. Economics, perhaps has been our strong point since then and it is in every possible way helped us in our difficult times to overcome the obstacles to growth and development. India has learned ways to manage the finances, investments and funding quite well from the very beginning and so are the fallouts so fruitful, prolific and rewarding.
Today, India stands neck to neck with world powers, rather has higher hopes, goals and aspirations that the world leaders. Be it cheaper transport, fastest telecommunication, latest technology, gadgets, gizmos, capital goods, resources, or education, Indian economy is nowhere less and is full of dreams to be realized.
India earns, spends and saves in such a planned way that our past has been so vibrant, the present is so lively and the future surely is bright and brilliant. So wouldn’t someone come to India to invest and be a spirited part of the stunning success?