Free Essays,College Free Essays,Free College Essays at Anti Essays

The Indian economy is the fourth largest in the world when measured on Purchase Power Parity (PPP) basis, although when measured in USD exchange-rate terms, it is the tenth largest in the world, with a GDP of US $1.16 trillion (2007). At the moment India is the second fastest growing major economy in the world, with a GDP growth rate of 8.7% as estimated at the end of the second quarter of 2007–2008. Approx. 17% of the world’s population resides in India and it has a middles class which is 350 million strong i.e. larger than America’s entire population.

The way Indian economy is growing it will surpass many western countries and would be among top 5 by 2015 in terms of GDP. In my personal opinion, this is a golden time for beginning and growing an enterprise in India. The future always belongs to those who earn it. Indian business houses are achieving scales and strengths which traditionally they weren’t thought to be capable of. Capital flows into and out of the country are becoming easier. The Indian Stock Market is also becoming more global and the level of fund raising and fund flows it has seen in near past is exceptionally high. From the technical parameters also we can see that when Indian stock market has crossed $ 800 billion by Market Capitalization mark it is a significant achievement, as this marks the entry of India into an elite club.

The world economy is going through a churning phase and the epicentre of activity is shifting towards the BRIC nations. China and India are slated to be amongst the largest economies by 2050 leaving even United States behind, thus we would see BRIC nations driving the world economy. I also look forward to India becoming a financial hub like New York and London as the level of savings in India to the GDP ratio is averaging over 30%. India continues to move forward with a diverse variety of market-oriented economic reforms which are changing the face of India from a largely agricultural...