Already one of the world's top growers, India could become the fastest growing economy in the next decade.
Already one of the world's top growers, India could become the fastest growing economy in the next decade.
India will grow at 7 per cent in 2001. Korea, the leader now, and China will log only 6.5 per cent, says the Asian Development Bank.
At 7 per cent average growth, per capita income doubles in the next 10 years, setting the stage for 8-10 per cent growth, with reforms on course.
This decade of development will be led by the new economy and services boom, helped along by industrial and infrastructural recovery.
A sharp rise in the population of the economically active (16-60 years) will trigger a consumption, savings boom. Social sector reforms will take it further.
Right now inflation is moderate, forex reserves at a record high, current account deficit is low, rupee is depreciating and trade booming. A good monsoon signals a good farm output.
Tags