Has India's much-touted economic revolution stalled? When I Googled today searching for the latest news concerning the supposed march towards world market domination, I found 4 year old articles and some predictions from a stock market astrologer.
Has India lost pace with China? China has just made headlines as they surpassed Japan's economy with nearly 5 trillion yearly GDP, pushing the giant into second-place behind the United States.
It might seem as if recent Indian economic growth statistics have not lived up to earlier predictions that India, alongside China, would emerge this decade as the new mover and shaker on the world economic scene.
However, Morgan Stanley has recently released a report that predicts India will become the world's fastest growing economy by 2013, and that its growth rate will be in the 9-9.
5% range, as China's growth begins to slow a bit and is forecast to drop to 8% growth by 2015.
The low median age of India's population means a high percentage are of working age, increasing saving rates and further boosting growth.
One of the other factors in the predicted burst of growth over the next few years is the steady rise in spending on India's infrastructure.
Expenditures on infrastructure are expected to reach 8% of GDP in 2010, up from 5.
4% in 2005 and 7.
5% in 2009.
From 2012 to 2017 expenditures should reach $1 trillion, up from $530 million over the past 5 years.
Infrastructure is an important part of India's ability to continue its growth and competitiveness.
It's vital to expand and modernize the country's infrastructure to accommodate the millions of potential jobs that will be emerging from the continued globalization trend.
New plants and machinery are a big part of the key to the economic revolution.
Over the next decade, India is expected to add 136 million people to the workforce.
This, combined with the other factors mentioned are helping to paint a very rosy picture for India's economy in the near future.
These are exciting times for India, as new opportunity and prosperity beckons to all its citizens.
For those with business, friends or family there, it's becoming easier to make cheap calls to India, as telecom services compete for customers by offering low rates.
It is much more inexpensive to call India from anywhere in the world these days, so take advantage of low rates and join in on the economic revolution!
Has India lost pace with China? China has just made headlines as they surpassed Japan's economy with nearly 5 trillion yearly GDP, pushing the giant into second-place behind the United States.
It might seem as if recent Indian economic growth statistics have not lived up to earlier predictions that India, alongside China, would emerge this decade as the new mover and shaker on the world economic scene.
However, Morgan Stanley has recently released a report that predicts India will become the world's fastest growing economy by 2013, and that its growth rate will be in the 9-9.
5% range, as China's growth begins to slow a bit and is forecast to drop to 8% growth by 2015.
The low median age of India's population means a high percentage are of working age, increasing saving rates and further boosting growth.
One of the other factors in the predicted burst of growth over the next few years is the steady rise in spending on India's infrastructure.
Expenditures on infrastructure are expected to reach 8% of GDP in 2010, up from 5.
4% in 2005 and 7.
5% in 2009.
From 2012 to 2017 expenditures should reach $1 trillion, up from $530 million over the past 5 years.
Infrastructure is an important part of India's ability to continue its growth and competitiveness.
It's vital to expand and modernize the country's infrastructure to accommodate the millions of potential jobs that will be emerging from the continued globalization trend.
New plants and machinery are a big part of the key to the economic revolution.
Over the next decade, India is expected to add 136 million people to the workforce.
This, combined with the other factors mentioned are helping to paint a very rosy picture for India's economy in the near future.
These are exciting times for India, as new opportunity and prosperity beckons to all its citizens.
For those with business, friends or family there, it's becoming easier to make cheap calls to India, as telecom services compete for customers by offering low rates.
It is much more inexpensive to call India from anywhere in the world these days, so take advantage of low rates and join in on the economic revolution!