Since India gained its independency in 1947, the country is changing like never before. It was from 1991 when India opened up progressively its market through economic reforms by reducing government controls on foreign trade and investment.
With the largest Democracy in the world and with the series of ambitious economic reforms stimulated the foreign investment, India is moving into the top runners of Asia and world wide economies.
India’s dynamic and competitive private sector offers considerable scope for foreign direct investment, joint ventures and collaborations.
With a total of 1 billion population, with the largest number of high qualify engineers in the world and with a middle class exceeding the population of U.S, India is one of the most exciting emerging markets in the world with a GDP, currently growing at around 8.6 percent (one of the fastest growing economies). Delhi, Mumbai, Kolkata and Bangalore are the cities with major concentration of the booming Industry.
However, presently the biggest challenge for the country is its infrastructure. Local analysts say the country's economic expansion could be at risk if infrastructure investment is not substantially raised. ¨India estimates it needs about US$475 billion between 2007 and 2012 to upgrade its roads, expand and modernize its ports, improve rail services and boost power generation¨, Finance Minister Palaniappan Chidambaram, says.
