India Today - 8 January 2009 - With India’s economic growth constantly in the media, seeking an opportunity for either a working relation or the development of a customer base within this emerging economy has proven to be on the top agenda for many businesses. Investors and developers from all over the world consider India as a perspective venue and attractive region for investments and high-stake ventures, and one of the few regions to pull through the credit crunch with an economy growth over 7%.
● India is the second largest country by population.
● The Indian authorities, however, restrict capital outflows to US$ 200,000 per person per year for resident Indians.
● The Indian economy has expanded by 8.6% pa during the past five years.
● It is now the fourth largest economy in the world, up from tenth in 1992
● Indian GDP growth is forecast to rise by 7.3% pa over the next ten years, more than double the global average.
● By 2013 India is destined to become the third largest world economy.
● By 2050 India’s population is predicted to be the largest in the world at 1.6 billion, higher than China.
Wealth in India
● The number of HNWIs in India is growing at a faster pace than any other nation.
● In 10 years there are forecast to be over 400,000 HNWIs, four times the number today.
● There are expected to be 1.9 million semi-HNWIs by 2017.
● The number of middle-class Indians with the potential to 583 million by 2025.
● The number of Indians with wealth exceeding US$ 100,000 is forecast to be 29 million by 2017.
● India’s 10 largest cities each have a population above 3 million.
● 1.13 billion population.
● 2nd most populous nation.
● 17% of world population.
● Density 329 people per sq km.
● 7th largest country by area.
● Largest democracy in the world.
● 32% of the population is under 15 years of age, 60% are less than 30 years with just 25% older than 40 years.
● Mumbai is the second most populous city in the world with 21.1 million people.
● Economy is worth approximately US$ 3.4 trillion pa, 4th largest in the world.
● GDP per capita is circa US$ 3,000 pa, significantly below the UK at US$ 35,000 pa.
● Accounts for 4.6% of global GDP.
● Labour force of 516 million, second highest in world.
● 60% of workforce employed in agriculture, 12% in industry and 28% in services.
● Agriculture represents 18% of national GDP, industry 29% and services 53%
● The Indian economy has increased by 6.7% pa during the past 15 years compared to average world growth of 3.7%pa
● During the past 5 years the Indian economy has grown by 8.6% pa.
● In 1992 India accounted for 2.9% of global GDP, by 2007 this had risen to 4.6%.
● India has risen from the world’s 10th largest economy in 1992 to the 4th largest in 2007.
● In the past 15 years India’s population has increased by 272 million, a growth rate of 1.9% pa.
● Output from the service sector has increased by 150%, averaging 9.4% pa, over the past 10 years.
● Indian GDP is forecast to grow by 7.3% pa over the next 10 years.
● GDP growth is expected to increase three times as fast as the UK and twice as fast as world GDP in the next 10 years.
● By 2013 it will be contributing around 5.6% of global GDP.
● The population is forecast to rise by around 320 million between 2007 and 2025 to 1.45 billion.
● By 2050 India is predicted to be the most populous in the world with 1.6 billion people, overtaking China’s 1.4 billion.