Thursday, September 15, 2011

10 reasons why one should do business in India!!

Reserve Bank of India recently painted quite a gloomy picture for the Indian economy and rating house Moody's too pointed out how corruption and scams are hampering the country's business environment.

However, things are not as bad as it seems. For, quite a few contradictory statements are doing the rounds as well.

According to research firm Dun and Bradstreet, India will become a $5.6 trillion economy by 2020.

The firm has also predicted a three-fold jump in the country's gross domestic product, from $1.7 trillion last fiscal, on the back of rapid investment and growing consumer expenditure.

1. India's GDP is on a roll

India's gross domestic product is reaching new heights every year.

India is now the 11th biggest economy in the world.

The GDP expanded 7.7 per cent in the second quarter of 2011 over the previous quarter. From 2000 to 2011, India's average quarterly GDP growth was 7.45 per cent.

India reduced poverty by about 10 percentage points from 1997.


2. India's trade is growing steadily

India's imports are increasing more than 25 per cent year on year (since 1960).

Even if 2009 saw a small fall-back due to global recession, in 2010 imports were however again growing at 32.2 per cent (August, 2010

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