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A GIANT AWAKENS |
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| Years of planning, concerted efforts, wide-ranging
resources and a stable environment - this successful recipe
has led India to a healthy and resilient economy. Since gaining
independence, India’s hard working milieu has made sure
that the country makes rapid strides in every sector. Given
below are a few testimonies from the media. |
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| Growing share of world exports |
According to the World Trade Organisation
(WTO) statistics, India’s share in the world’s merchandise
exports has increased to 0.82% at the end of 2004 as compared
to 0.66% in 2000. This growth has been achieved despite depreciation
of the dollar against the rupee and sluggish demand in some
key markets. This information has been put forth by the Union
Minister of Commerce & Industry, Mr. Kamal Nath.
Source: www.economywatch.com
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| Hot tourism destination |
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Tourism Minister Renuka Chowdhury
announced that India was experiencing a tourism boom with a
26% increase in the inflow of foreign tourists. In all there
have been a total of 629 charter flights into India this season
from Europe, including three charters from Bratislav in former
Yugoslavia to Amritsar.
She also announced that plans are on to focus on the health
sector including Yoga and Ayurveda besides offering Bollywood
as a tour package. Source: www.indiaexpress.com
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| JVs in infrastructure development |
| Dubai-based property major Emaar has been
given approval to establish a joint venture operation in India
by the Indian Government’s Cabinet Committee on Economic
Affairs. The Committee has given permission
to establish a joint venture company for the development of
integrated township projects like commercial premises, schools,
hospitals, shopping malls, hotels, parks, residential apartments,
houses, villas and other infrastructure facilities such as
roads, bridges and mass transit systems.
Source: http://www.albawaba.com/en/countries/UAE/182744
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| Escalating forex reserves |
| According to the Reserve Bank
of India's latest weekly statistical supplement India's foreign
exchange reserves have risen by $1 billion to $142.54 billion
for the week ended April 22, 2005. Also foreign currency assets
have been up by $985 million to reach $136.60 billion for the
reporting week. Gold reserves and SDRs (special drawing rights)
remained static at $4.5 billion and $5 million respectively.
Source: www.economywatch.com
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| The wealthy, demanding Indian |
For many industries India is becoming an increasingly
attractive market. The country’s exceptional economic
performance over the last decade is the driving force behind
this attractiveness. Due to the continued development of the
service industry and strong growth in the technology sector,
the economy has grown at an average of 7.6% since 1994. These
opportunities have in turn driven individual wealth growth.
India’s residents’ wealth has grown from US$ 79
billion in 1998 to US$ 200 billion at the end of 2003. This
amounts to an increase of 123% in just five years.
Source: www.the-infoshop.com
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