India being one of the fastest growing global economies, which is also the 3rd largest in the world has always been on the “watch list” for investors worldwide. The population of India represents about 15 percent of the total inhabitants in the world, wherein it has a tremendous potential for economic growth due to rapid industrialization.
Following the recent market rally and stock trends, the dynamic pace has slowed down a bit due to the ongoing recession and global downturn. The economy grew 5.7 percent in 2008/09, slowing from rates of 9 percent or higher in the previous three years as the global downturn hit harder than expected. Later in april-june the economy witnessed a growth of 6.1 percent picking up from an annual rate of 5.8 percent in the previous quarter. A rally at the end of September shot the SENSEX to a record high, gaining percent since September 22, making it one of the best performing economies globally.
Therefore if the present trend continues the GDP will improve in the next quarter of the fiscal year. The stimulus packages have created a spur in the demand. So a full economic recovery will take some time, but the prospects are very bright and very soon India can be a leader in the world economy.
Following the recent market rally and stock trends, the dynamic pace has slowed down a bit due to the ongoing recession and global downturn. The economy grew 5.7 percent in 2008/09, slowing from rates of 9 percent or higher in the previous three years as the global downturn hit harder than expected. Later in april-june the economy witnessed a growth of 6.1 percent picking up from an annual rate of 5.8 percent in the previous quarter. A rally at the end of September shot the SENSEX to a record high, gaining percent since September 22, making it one of the best performing economies globally.
Therefore if the present trend continues the GDP will improve in the next quarter of the fiscal year. The stimulus packages have created a spur in the demand. So a full economic recovery will take some time, but the prospects are very bright and very soon India can be a leader in the world economy.
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