Indian Economy Surges

Visit India - Indian Economy Surges 8%

With the world still gripped by an economic slump, the Indian economy surprised everybody by surging 8%. India's economy is one of the strongest in the world at the moment, growing by 7.9% in the quarter to the end of September compared to last year, way ahead of forecasts of 6.3%.

Economists said it was mainly due to stimulus measures. It means the central bank will be under pressure to raise interest rates.

Despite the heavy falls in Middle Eastern markets due to Dubai's debt problems, shares on the Indian stock market rose 1.8% today.

India's Sensex 30-share has ended November up 6.5%, compared to its 7.2% fall in October.

As the world's largest democracy and 2nd largest nation, with 1.2bn people, India is an increasingly important global player where change is the name of the game.

India has one of the youngest populations in the world, almost half being aged below 26 and the numbers of people using credit cards, mobile phones, eating out, shopping and spending money on healthcare, travel and luxuries is increasing all the time. The middle class is expected to rise to 500m over the next 8 years and they all speak English. Perhaps I should go and work there ! Or put my millions in an Indian bank account.

ASR