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Learn why the World should take note of India's economic growth

BY: David Prakash Kumar | Category: India | Post Date: 2009-12-19
 



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   David Prakash Kumar
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India has been moving up the ladder in the economic growth by leaps and bounds. There are many countries around the world that have developed economically, but the growth that India has had in the last few years have been tremendous. Considering the fact that India has got its freedom only a few decades back, the growth is seen as a largely overdue. If India had not been under the British rule, then it would have had a faster growth.

There are various reasons for the rapid growth of India economically and also in various other ways. The reasons for the growth and why Indian economy is a power to reckon with in the world scenario are listed here.

1. The exports:
India has been exporting various products to many parts of the world. This has caused great growth and also is seeing a further increase in the many products that are made and exported to countries around the world. This has caused India to grow a lot.

2. Automotive factories:

India is also having one of the fastest growing and largest automotive Industry in the world. In fact India is one of the largest exporters of automomobiles in the world. This is because India has many companies that produce world class cars at a rate that is much cheaper than in any part of the world. This has also caused an increase in the exports of various car parts. India is also one of the leading producers of the cheapest passenger cars in the world and this has also caused the market share for Indian cars to increase.

3. Information Technology:

India is one of the best software solutions providers in the world. This has caused the growth of Indian companies over the past two decades. The growth of Indian IT companies has been phenomenal.

4. India is also a largest producer of various textile products. Indian textiles are exported to many other countries either as finished products or even materials that can be converted into new garments. The garment industry is slowly seeing further growth in the Indian economy.

5. Financial hub:

India is also slowly becoming a financial hub to the countries of the world who are all investing in India because they believe in the growth of India. This has also caused a large in flow of cash that has further caused the economy to grow at a rapid pace.

6. The work force:

The work force in India is also dedicated and they work to the maximum capacity possible, causing rapid strides in the direction of growth. India has one of the largest work forces in the world and these people are all willing to work for long hours and it has made a great difference than in many other countries.

7. Consumer spending:

The Indian consumer is also spending a lot on consumer goods and this has caused the country to become an economic power to be reckoned with.

This is the main reason for the world to take note of India's economic growth.

Article Source: http://www.saching.com



About Author / Additional Info: I am a physiotherapist and also a freelance writer. I have been writing for many blogs and websites and also take up freelance assignments. Comments are welcome at prakashdavid@rediffmail.com

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