Knowing India Better

Dec 29, 2009

India is among the fastest growing economies in the world with the last 5 years recording an average of over 8 per cent growth. If one considers the period since 2000-2001, the average per annum GDP growth rate at the all- India level increased substantively from 5.6 per cent for the period 2000-2001 to 2003-2004 and 8.9 per cent for the period 2004-2005 to 2007-2008. The economy has weathered the global slowdown and all indicators point to good growth rates in 2009. Growth has been supported by a strong domestic demand and a competitive export strategy.

India has been an important destination for foreign direct investment as also for FII investments. India is a free-market democracy with a legal and regulatory framework that rewards free enterprise, entrepreneurship and risk taking.

The strength of the Indian economy has been a strong and growing domestic market. Several international reports point to the fact that over 300 million Indians (63 million households) are expected to have a household income of over US$6,000 by 2015 (over US$30,000 in PPP terms).

OIFC is a not for profit public private initiative between the Ministry of Overseas Indian Affairs (MOIA) and the Confederation of Indian Industry (CII) aiming at expanding the economic engagement of the Indian diaspora with India.

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