FINANCIAL AND ECONOMIC CONDITIONS IN INDIA
Introduction:
India is one of world’s fastest growing economies. Apart from China no other country has as an economic growth rate as India.This country offers several economic advantages to its nationals as well as foreign industries.India’s economic boom has been made possible mainly through its information technology and out sourcing business.India’s rise as an rise economic powerhouse has been quite remarkable.Economic conditions in India is now favourable to for a wider cross section of people.
Some Economic Facts about India:
India GDP stood at around $2965 billion as per CIA’s 2007 estimates,of which services accounted for maximum percentage,followed by Industry and Agriculture.As per CIA’s estimates,total Indian exports totaled $140.8 billion and total imports totaled about $224 billion.
Since 1990 the economy of India has witnessed a decent growth rate of 6% and has been successful in overcoming poverty by about 10%.The strength of India is its vast pool of educated and skilled citizens,but the weekness of India is continuing public-sector budget deficit,which is nearly 10% of GDP.
India has established itself as one of the most aggressively emerging markets of the world,by harnesig the talent and skills of its managerial and technical manpower.India’s abundant workforce provides t a competitive edge in the global market.
India’s economy is vast and varies and consists of traditional village farming and modern agriculture, handicrafts, a wide distinctive range of modern industries, and a large range of support services.Government has become more liberal and has reduced its control on foreign trade and investment and is heading its way towards privatizing the domestic sector.
Foreign Direct Investment Data:
In 2007-2008 the foreign investments in India touched $25 billion,in previous time period this figure was around $15.7 billion.As of may 21,2008 india’s foreign exchange exceeded $341 billion.Ministry of commerce an industry projections indicate that India is slated to attract more then %35 billion as foreign direct investment.Ernst and young had carried out a survey in june 2008,which identified India as fourth most attractive investment destination of world,all this augurs are well for economic condition in India.
India is one of world’s fastest growing economies. Apart from China no other country has as an economic growth rate as India.This country offers several economic advantages to its nationals as well as foreign industries.India’s economic boom has been made possible mainly through its information technology and out sourcing business.India’s rise as an rise economic powerhouse has been quite remarkable.Economic conditions in India is now favourable to for a wider cross section of people.
Some Economic Facts about India:
India GDP stood at around $2965 billion as per CIA’s 2007 estimates,of which services accounted for maximum percentage,followed by Industry and Agriculture.As per CIA’s estimates,total Indian exports totaled $140.8 billion and total imports totaled about $224 billion.
Since 1990 the economy of India has witnessed a decent growth rate of 6% and has been successful in overcoming poverty by about 10%.The strength of India is its vast pool of educated and skilled citizens,but the weekness of India is continuing public-sector budget deficit,which is nearly 10% of GDP.
India has established itself as one of the most aggressively emerging markets of the world,by harnesig the talent and skills of its managerial and technical manpower.India’s abundant workforce provides t a competitive edge in the global market.
India’s economy is vast and varies and consists of traditional village farming and modern agriculture, handicrafts, a wide distinctive range of modern industries, and a large range of support services.Government has become more liberal and has reduced its control on foreign trade and investment and is heading its way towards privatizing the domestic sector.
Foreign Direct Investment Data:
In 2007-2008 the foreign investments in India touched $25 billion,in previous time period this figure was around $15.7 billion.As of may 21,2008 india’s foreign exchange exceeded $341 billion.Ministry of commerce an industry projections indicate that India is slated to attract more then %35 billion as foreign direct investment.Ernst and young had carried out a survey in june 2008,which identified India as fourth most attractive investment destination of world,all this augurs are well for economic condition in India.
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