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INDIAN
ECONOMY OVERVIEW The Indian economy which is a resilient economy with a wide
base of agriculture, mining, manufacturing and services is now ranked as the
4th largest in the world by purchasing power parity (GDP by PPP in 2010- US$ 4
trillion) and has been growing rapidly in recent years. In fact, the Indian
economy has been growing at an average growth rate of about 8% in the last eight
fiscal years (FY 2003-04 to FY 2009-10). Estimated growth rate in FY 2010-11
is around 8.5%. According to a study by Goldman Sachs, Indian economy is
expected to continue growing at the rate of 5% till 2050. The growth was
supported by market reforms, huge inflows of FDI, rising foreign exchange
reserves, both IT and real estate boom, and a flourishing capital market. A growing
number of investors all around the world feel that the Indian market is
currently undervalued and are seeing this as a buying opportunity. Moreover,
with the largest number of listed companies - 10,000 across 23 stock
exchanges, India has the third largest investor base in the world. India has a
huge domestic consumer market – 1.18 billion population including 300 million
classified as middle class (earning US$ 2000- US$ 22,000 a year). In fact,
according to a study by the Mckinsey Global Institute (MGI), India’s consumer
market will be the world’s 5th largest in the world by 2025.
In addition, India is among the world's youngest nations with a median
age of 25 years. Its working age population is estimated to rise to 70% of
the total demographic by 2030 - the largest in the world. India will see 70
million new entrants to its workforce over the next five years. |
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Website designed and managed by
Information Wing, External links to other Internet sites should not be construed as an endorsement of the views contained therein. |
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