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India 

Last update: November 2011

Competitive Advantages

Business Environment

  • Stable democratic environment in over 50 years of independence.
  • Large market size with a middle class population of 250-350 million with increasing purchasing power reflected by remarkable increase in purchase of consumer durables in recent years.
  • Access to regional international markets through membership of regional integration frameworks such as SAARC. Proximity to affluent West Asian and ASEAN markets.
  • Conducive foreign investment environment that provides rapid approvals, freedom of entry, investment, location, choice of technology, import and export. Current account convertibility of the Rupee, and capital account convertibility for foreign investors.
  • Large and diversified infrastructure spread across the country. Large resources of untapped natural wealth.
  • Thrust on technology, innovation and knowledge base. Home to premier world-renowned educational, technical and management institutions. Developing as one of the largest cost - competitive technical workforce nations.
  • Well-developed banking system, with a commercial banking network of over 63,000 branches, supported by a number of national and State level financial institutions.
  • Acceleration of the privatisation process, restructuring of public enterprises, and reform of the tax structure.

  • Established, independent judiciary with a hierarchy of courts.

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Economic Outlook

  • The overall growth of GDP during 2006-07 (as per the Quick Estimates of CSO) has been placed 9.6 per cent. Growth during the 2007-08 (as per Advance Estimate of CSO) has been estimated at 8.7 percent
  • Overall industrial growth was 8.5 per cent in 2007-2008 and 2.6 per cent in 2008-2009. The overall economic outlook seems positive as India is predicted to curb inflation in the long-term, which will help to encourage industrial growth.
  • Large manufacturing capability, spanning almost all area of manufacturing activities Well developed R&D infrastructure and technical and marketing services.
  • The eight core infrastructure industries grew by 5.2% in June 2011 compared to last year’s growth of 4.4 per cent in June 2010. 
  • The demand for India’s goods and services has led to exports in 2009 increasing to $167 billion dollars. Imports for all types of commodities were at $284 billion in 2009.  India now accounts for 1.64% of the global trade in goods and services worldwide.
  • Forex reserves stood at $311.5 billion at the end of September 2011.
  • Rupee appreciated against US dollar and, Pound Sterling and depreciated against Japanese Yen and Euro in January 2008.
  • India wholesale price index (WPI) rose an annual 9.6% in August 2011, due to rising food and fuel prices. The reserve bank of India predicts inflation projection is set to be 7 per cent in 2011/2012.
  • Tax revenue (centre) has increased to 11.5 per cent in 2008-2009, compared to tax revenue the previous year.  
  • Vibrant capital market comprising 23 stock exchanges with over 9,000 listed companies.

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Investment policies, laws and regulations

  • Foreign investment welcome in almost all sectors barring some of strategic concern like atomic energy. Even defence production is now open to the private sector and foreign investors.
  • Special investment and tax incentives given for exports and certain sectors such as power, electronics, telecom, software, oil & gas, and research and development activities.
  • Uniform VAT from 1 April 2003.
  • Legal protection for Intellectual Property Rights.
  • Import regime in conformity with WTO commitments - removal of remaining quantitative restrictions on imports of goods into India barring certain items on grounds of national security, defence and health.
  • The current FDI policy shows the areas in which investment can be made by foreign entities.

 

Source: High Commission of India in London & Indian Ministry of Finance

 

Last update: November 2011

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Indian News, Pakistan News, Sri Lanka News, Bangladesh News

India:Rupee gains 20 paise vs dollar; Sensex up 126 points.

 

Pakistan:Pakistan welcomes IMF $6.7bn lifeline


Sri Lanka:LankaClear posts Rs 189 m PAT

 

Bangladesh:GDP growth rises to 6.18pc, per capita income $ 1044 

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