India’s growth story
India today is being regarded as a developed nation. The following stats will give a crystalline picture of the growth story of India, as of 2015:
- The GDP growth of over 7.5 Per Cent
- Forex reserves over US$350 billion (July 2015 Stats)
- BSE Sensex zooming close to 30,000
- FDI (Foreign Direct Investment) into India through the approval route shot up 162 per cent to US$ 1.91 billion in the first ten months of the ongoing fiscal year.
- FDI to India doubled to US$ 4.48 billion in January 2015, the highest inflow in last 29 months, from US$ 2.18 billion in January 2014.
- The foreign inflows have grown to touch US$ 25.52 billion during the April-January 2014-15, up 36 per cent year-on-year (y-o-y), from US$ 18.74 billion in the corresponding period last fiscal.
- The top 10 sectors receiving FDI include telecommunication which received the maximum FDI worth US$ 2.83 billion in the 10 month period, followed by services (US$ 2.64 billion), automobiles (US$ 2.04 billion), computer software and hardware (US$ 1.30 billion) and pharmaceuticals sector (US$ 1.25 billion).
- India received the maximum FDI from Mauritius at US$ 7.66 billion, followed by Singapore (US$ 5.26 billion), the Netherlands (US$ 3.13 billion), Japan (US$ 1.61 billion) and the US (US$ 1.58 billion) during April-January 2014-15 period.
- The IMF (International Monitory Fund) and World Bank stressing that India will surpass China’s GDP very soon.
The above numbers prove that India’s growth story is real and it is happening, if not the only, India’s is certainly the most preferred investment destination in the world.