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Course Contents (India)
- The Indian Economy. Economic Outlook
- Indian External Trade
- Industrial sector
- Services sector. Indian Film Industry “Bollywood”.
- Micro, Small and Medium Enterprises
Summary:
The Indian economy is the fourth largest economy of the world on the
basis of Purchasing Power Parity (PPP). It is one of the most attractive
destinations for business and investment opportunities due to huge
manpower base, diversified natural resources and strong macro-economic
fundamentals.
The Indian economy has undergone substantial changes since the introduction
of economic reforms in 1991. These reforms were a comprehensive effort
consisting of three main components namely, liberalisation, privatisation
and globalisation.
The current scenario of Indian economy has been characterised by optimistic
growth and strong macro-economic fundamentals, particularly with tangible
progress towards fiscal consolidation and a strong balance of payments
position. The advance estimates (AE) of Gross Domestic Product (GDP) at
factor cost for 2006-07 has been placed at 9.2 per cent.
Over 380 million Indians (72 million households) have an annual household
income of over $10,000 (in PPP terms). This is expected to increase to 550
million by 2010. The economic reforms since the early nineties have
unleashed a new entrepreneurial spirit creating a vibrant economy supported
by rising per capita income.
Indeed, the rise of the young Indian urban consumer has been a
feature of India's economic transformation over the past decade. In their
mid-twenties, members of this segment do not think twice before spending on
expensive global brands. They are comfortable buying on credit, have bought
a house and a car, something their parents could never have dreamt of doing
in their youth. The house is an investment for them and the car an
indulgence.
India views Regional Trading Arrangements (RTA's) as 'building blocks'
towards the overall objective of trade liberalisation. Hence, it is
participating in a number of RTA's which include Free Trade Agreements
(FTA's); Preferential Trade Agreements (PTA's); Comprehensive Economic
Cooperation Agreements (CECA's); etc. These agreements are entered into
either bilaterally or in a regional grouping.
The Industrial sector in India
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