India is Booming

[harvey_mayway]

McKinsey has come out with a research report on financial sector reforms that India needs to accelerate growth.

According to the report, India's growth can be accelerated through financial sector reforms. According to the report, the country's real GDP growth has been at 7% in the last three years, thanks to booming services, manufacturing and exports.

Also, India has the second highest level of government ownership of banks, but lending rates are low compared to the banks in other countries. Indian Corporate Bond Market is just 2% of GDP.

Indian households are the largest gold consumers.

Coming to corporates, the research says private corporates revive only 43% of the total credit. It also points out that equity is doing a good job of funding corporate India. New equity issues amount to only 2% of the corporate funding, it says.

The reforms that should be brought about, according to the report, include reducing the role of the government, improved banking efficiency to best practice, complete implementation of electronic payment systems, reduction of corporate bond default rates, along with shift in financial mix from bank loans to bonds and migrating informal lending to formal banks.

According to the research, these reforms, if implemented, can raise the country’s GDP growth to 9.4% a year, on a sustained basis and increase household income by 30%.

[harvey_mayway]

is it true that india is booming, and if so..

As a decendent of some of the rich indians that made it out of india....

How could we take advantage of this booming economy????

[nrc0610]

India won't become a powerful economy in the next 10-15 years but maybe about 30 years later. India still has to solve their problems such as poverty and the population crisis they are having.

[harvey_mayway]

higly educated workforce.... that will work for peanuts....

Any country with that will take all the crap Fake I>T help desk jobs from the west....

Plus they will also take most of the manufacturing as welll.. cause you can polute these countries to death,

Plus 3rd world debt is going to be wiped out... which means c ountries can start to invest in their country instead of payin the west in huge intrest....

(if more money stays in the 3dr world than is being taken out... then the country do welll)

Having said all that.... being in the west and likin money,.... I want to find way explit all this money that these indians have at the moment....


How can we take advantage of this opportunty...to get this money ....??????

[Deception 004]

Ya, India is really getting noticed. India's should be proud of there home land.

[notoriou$punjabi]

Govt officials lack discipline n enjoy power

Beautiful life.....



Harvey if you can introduce something already practiced in the west in an indianized way then the market is yours.... dosent have to be a private investment but the tenders from the govt for state projects

Everything depends on how much you have to put in

[boynamedrahul]

Any of you guys read the latest issue of Time magazine? It's all about India's rising economy and how it'll overtake China soon.

[foreverconfused]

higly educated workforce.... that will work for peanuts....

Any country with that will take all the crap Fake I>T help desk jobs from the west....

Plus they will also take most of the manufacturing as welll.. cause you can polute these countries to death,

Plus 3rd world debt is going to be wiped out... which means c ountries can start to invest in their country instead of payin the west in huge intrest....

(if more money stays in the 3dr world than is being taken out... then the country do welll)

Having said all that.... being in the west and likin money,.... I want to find way explit all this money that these indians have at the moment....


How can we take advantage of this opportunty...to get this money ....??????

:x

i've been wanting to read that time issue really, really bad. and i'm so happy india's economy has been picking up so fast.

[boynamedrahul]

Yep, outsourcing is where it's at. I keep telling all my relatives back home to stop dreamign about coming to US. All the jobs they come here for is getting outsourced back to India.

[UnevenButtocks]

Yep, outsourcing is where it's at. I keep telling all my relatives back home to stop dreamign about coming to US. All the jobs they come here for is getting outsourced back to India.


And because their salaries are growing, they're being outsourced too-to eastern europe. Did you read the entire article? :D

[foreverconfused]

*gone*

[bender]

The Economist magazine had a survey on India's economy. To sum up, India can grow as fast as China, it is not right now, if the goverment invested in infrastructure and eliminated bureaucratic hurdles.

[boynamedrahul]

it'll be a long time before the outsourcing phenomena moves over to east europe, or any other region. And most companies don't want to switch over to another nation once they establish base. Most likely if India continues it's trend, it'll be the country companies turn to for the next 30 years. It also helps (the foreign companies) the fact that a majority of Indians live in poverty. It'll be a long time before the call center workers start demanding so much money that it's not worth investing in India.

[VineetZesix]

You do realize that the outsourcing and IT jobs account for less than 5% of the total Indian GDP .. They are growing sectors, but they are not significant enough for you to claim that they will usher the growth of the entire economy.

You have to let money trickle down into the economy, something Indians are not used to as they horde money and liquid cash in their houses rather than invest them through banks. A cultural change of spending, not massive saving, needs to happen before India can truly become a growing power. This is the only way to tackle the poverty, where almost 1/3 of the Indian population lives.

Just because a few sectors boom and a few people get rich doesn't mean that much if the overall population is still not seeing the benefits. It will happen, just don't jump the gun and turn India into a bubble like South East Asia in the late '90s.

[harvey_mayway]

I think its more of a public veiw of the country is changing,,,



People in the west are noticing that indians are as smart and compable of doing th same jobs as the 80% of white people.

So it is positive attention, which attracts more opportunies for india.

:sarb:

[loved_guy]

The pay is excellent in India right now...it looks peanuts if u convert it to $. .but when u hv to spend in india..its a lot of money....salaries hv gone up 4 times in the last 5 yearss :dance3: