India can precisely be described as a land of diversity, democracy and dynamics. The seventh largest country in the world confines the Great Himalayas in the North, the peninsular beauty in the south, the Thar Desert in the West and deep jungles in the East. Home to one of the most ancient Indus valley civilisation, India has entailed oldest of the religions like Hinduism, Jainism, Sikhism and Buddhism.
The country boasts of its yoga expertise and ayurvedic science through the world, while it stands as one of the largest economies in terms of road and railway networks.
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India Advantage (Why India)
- World’s largest democracy with 1.2 billion people.
- Stable political environment and responsive administrative set up.
- Well established judiciary to enforce rule of law.
- Land of abundant natural resources and diverse climatic conditions.
- Rapid economic growth: GDP to grow by 8.5% in 2010-11* and 9.0% in 2011-12.
- India’s growth will start to outpace China’s within three to five years and hence will become the fastest large economy with 9-10% growth over the next 20-25 years (Morgan Stanley).
- Investor friendly policies and incentive based schemes.
- Second most attractive Foreign Direct Investment (FDI) location in the world: India received a total of US$ 25.9 billion of FDI in 2009-10.
- Healthy macro-economic fundamentals: Investment rate is expected to be 37% in 2010-11 and 38.4% in 2011-12 while Domestic Savings rate is expected to be 34% in 2010-11 and 36% in 2011-12.
- India’s economy will grow fivefold in the next 20 years (McKinsey).
- Cost competitiveness; low labour costs.
- Total labour force of nearly 530 million.
- Large pool of skilled manpower; strong knowledge base with significant English speaking population.
- Young country with a median age of 30 years by 2025: India’s economy will benefit from this “demographic dividend”.
- The proportion of population in the working age group (15-59 years) is likely to increase from approximately 58% in 2001 to more than 64% by 2021.
- Huge untapped market potential.
- The urban population of India will double from the 2001 census figure of 290m to approximately 590m by 2030 (McKinsey).
- Progressive simplification and rationalization of direct and indirect tax structures.
- Reduction in import tariffs.
- Full current account convertibility.
- Compliance with WTO norms.
- Robust banking and financial institutions.