The India growth story is no longer just the preserve of columns in daily newspapers and speeches of political leaders and civil servants. The number of growing job opportunities in big and small cities, the construction work on the roads, ports and at airports, the healthy balance sheets of companies and the heightened growth in consumerism - all go on to prove that this growth story has begun to change lives of millions across the length and breadth of India.
Statistics only reinforce the all-pervading India growth story. During the past three years, India has grown at an average growth rate of 8.6%, the fastest since Independence. Its global competitiveness ranking has improved from 57 in 2001 to 45 in 2005 and 43 in 2006. According to the latest Global Competitiveness Report, India has the highest rank amongst the BRIC economies, with China at 54, Russia at 62 and Brazil at 66.
India's economy is at the fulcrum of an ever-increasing growth curve. While both the industry and the services sector are growing in doubt-digits, other indicators - such as the capital markets, foreign exchange reserves, foreign trade and (outward and inward) FDI - too reinforce India's growth story. Today, India's foreign exchange reserves are at over $200 billion. The Sensex has topped the majestic 14,000 mark and FDI inflows for 2006-07 are estimated at $19 billion (up from $7 billion during 2005-06). During 2006-07, exports rose 23.9 per cent to $124.63 billion, while imports jumped 29.3 per cent to $181.4 billion.
Statistics only reinforce the all-pervading India growth story. During the past three years, India has grown at an average growth rate of 8.6%, the fastest since Independence. Its global competitiveness ranking has improved from 57 in 2001 to 45 in 2005 and 43 in 2006. According to the latest Global Competitiveness Report, India has the highest rank amongst the BRIC economies, with China at 54, Russia at 62 and Brazil at 66.
