Wednesday, February 07, 2007
Boom India Boom...
"This year nominal GDP is expected to touch about $900 billion, and next year India is expected to cross $1 trillion in GDP -- entering the big league," said Shuchita Mehta, chief India economist at Standard Chartered Bank in Mumbai.
D.K. Joshi, senior economist with rating agency Crisil, said growth looked more sustainable than in previous cycles because it was backed by a high investment rate, good consumption and export demand.
The country is elbowing its way onto the world stage with developments like Tata Steel's $12.2 billion takeover of Anglo-Dutch steel maker Corus.