India Country Focus

In: Business and Management

Submitted By asdsouza
Words 2431
Pages 10
Country Focus - India

India is the most populous democracy in the world with nearly 1.2 billion people. Its economy grew 9.4% in the first half of year 2010 and is forecasted to grow 9.7% for the year by IMF (Businessweek). On the one hand, India possesses young and growing workforce, rising income levels and a domestic driven economy that are attracting global investors, on the other hand, issues like rising inflation and poor infrastructure continue to hold back the economy.

Workforce: India has one of the highest numbers of working people in the world. In year 2010, India’s labor force counted to 478 million people second to China which has around 820 million. Young and growing workforce is the driving force behind Indian economy. According to a recent report by United Nations, working population in India is expected to grow by 46% between year 2000 and 2025 (United Nations). Growing Indian middle class along with large number of English speaking people is fueling the growth of service industry in India.

Income Levels: India’s GDP per capita, PPP adjusted, stood at US$ 3400 for the year 2010 (CIA , 2010) which is relatively low even when compared to other developing countries in the region (China US$ 7400 PPP adjusted) (CIA , 2010). The unemployment rate was as high as 10.8 % for year 2010 and 25% of its population still stays below poverty line (CIA , 2010).

Infrastructure: This is one of the most critical issues that pose a threat to the development of Indian economy. Bad roads, insufficient electricity production, lack of warehousing, insufficient cold storage facilities make it difficult for industries to work efficiently. The value lost as % of sales due to power outages is highest in the world among major developing countries [Appendix 1] and according to Indian government sources, the average turnaround time to unload and reload a ship’s cargo…...

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