Indian Economy

Economic growth:

- It depends mainly on agriculture, manufacturing and services.

- The digital age and people who have studies in English is transforming India into a major destination for major companies when outsourcing customer service and technical support.

- Other sectors such as tourism, telecommunications and pharmaceutical industry are showing high growth rates.

- Poverty remains a major problem, although it has declined considerably since the country became independent. It is currently estimated that 25% of the population lives below the poverty.

International business

- The growth of international business in India is more than 7% annually.

- The huge performance of the stock market in India requires more attention compare to other ones, with its high skilled manpower and budding middle class segment.

- Different parts of the country are well known for its different traits. For example the eastern part is know as the land of intellectuals, the southern part its known for its technology acumen, the western part is known as the commercial capital of the country, with the northern part being the hub of political power. With such diversities in all segments of the country, international business opportunities in India are surely huge.

Urbanization

- India’s urban population has grown from 62 million in 1951 to 377 million according to Census data.

- Urbanization will grow at 4% per year

Urban development

- India in the 1990s began to transform from a centralized economy to a free market economy, which allowed a fast economic growth.

- Currently the country is the eleventh largest economy in the world

- Is the second most popular country where 300 million people are from the middle class, this is equivalent to almost the total population of the United States.

- In the past Indians were use to buy food every day in the street markets but because of the great Indian economic growth, now it has malls and supermarkets that allows India to become a new different country.

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