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The Indian Growth Story Print E-mail

India's growth story is something of a phenomenon. The economic growth shows a clear break in performance around 1980. But the growth story of the eighties and the nineties is different. This growth is even more accelerated within sub sectors such as Bangalore Property, Pune Property and Mumbai Property.

 

Some of the key highlights of India’s growth story can be summed up as:

 

  • Clocking a growth rate of over 7% consistently which has made it the second fastest growing economy in the world
  • Have a huge battery of middle class population in the range of over 400 million
  • Working population is close to 375 million and in the years to come, India is slated to have the youngest working population in the world which will put it in a huge advantageous position vis-à-vis other nations
  • India’s exports have gone past the $100 billion level from a paltry $20 billion in early 90’s
  • Its foreign exchange reserves have crossed $150 billion
  • India appears in the Goldman Sachs theory of BRIC nations which are likely to become the growth engines of world economy in the 21st century
  • Has a well regulated financial market, its stock market has become a favorite with FIIs, interest rates have dropped substantially in the average range of 5-6%
  • Indian entrepreneurs and professionals especially in the sunrise industries like IT, ITES, BIOTECH, etc. are creating waves all over the world. Some of the old industrial powerhouses are changing themselves to become competitive at the global level and have been on an acquisition spree in recent years
  • Literacy rate is on a rise and have reached to a modest level of over 60%.

This list could simply go on. The bottomline is: the makeover in India’s image from a ‘land of snake charmers’ to a ‘land of immense opportunities’ has been rapid. But at the same time, India rising is for real and will only intensify in the time to come. India in its new, modern avatar (which is unfolding) is all slated to add a new chapter to its glorious history.

 
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