India To Be Fastest Growing Economy

By admin • August 17th, 2010

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A new report by Morgan Stanley has shown India will become the world’s fastest growing economy by 2015. The report shows India is set to build upon its current growth rates to a projected 9-9.5% during the 2013-2015 periods. These growth rates will be higher than those in China which are estimated to be at 9% during 2012 and fall to 8% by 2015.

India is currently exhibiting the trends of other economies which experienced such high growth rates in the past. This is that there will be a large percentage of the population which will be at ‘working age’, whilst the non-working (dependant) population shrinks. This will obviously boost the number of people who contribute to economic growth by working and it also allows the working population to save a larger percentage of their income for the future, rather than having to spend it on the dependant population.

With additional job opportunities, additional capital and better training arising through the benefits of globalisation, experts are predicting India can grow to the forecasted rates of 9-9.5% by 2015. In addition India has seen a significant increase in its infrastructure expenditure to a projected rate of 8% of GDP in 2010 up from 5.4% of GDP in 2005. The report also suggests the Infrastructure sector will be spending around $1 trillion over the 2012-2017 periods.

International Government Affairs & Corporate Relations Consultants for Emerging Markets

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