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India as a new Medical Transcription
hub
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04. NEWSMAKERS |
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India
- Fastest Growing Free Market Democracy |
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India, the world’s
fastest growing free market democracy, is on a high growth
trajectory. The youngest and fastest growing population
of consumers and professionals is leveraging demographic
advantages and GDP is expected to grow at 8 percent for
the second year running.
According to Goldman Sachs, among
Brazil, Russia, India and China, India will show the fastest
growth over the next 30 – 50 years. At present rates
of growth, the burgeoning market in the country will add
one France every three and a half years and one Australia
every year.
With disposable incomes having multiplied five times over
the past decade and a positive net employment outlook
of +27 per cent, India’s 400 million strong middle-class
is driving demand, competition and productivity like never
before.
World class educational institutions, a thriving culture
of entrepreneurship and strong quality orientation in
manufacturing are drawing investors into India. The 2005
A T Kearney FDI Confidence Index ranks India higher than
the USA, establishing India as global investors’
favourite democracy.
India’s focus on increasing investments in infrastructure
development is |
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designed to complement
its rapid emergence as the preferred manufacturing hub for leading
global corporations. The Establishment of a ‘hub-and-spoke’
network of centres of economic activity is sure to lead to manifold
growth in business profits and bring the hinterland into the
mainstream.
All this is buoyed further by India’s strong adherence
to democratic tenets, which have enabled its assimilative and
culturally-rich society to constantly modernise its traditions
and create a unique work ethos, where freedom and the spirit
of enterprise together give every individual a chance to shape
a future of his or her own making.
When India made a pitch for its well deserved share of attention
from global business at Davos in January 2006, the message from
Indian policy makers and business leaders was received very
well. The attraction with all things Indian continues.
India is the Partner Country at Hannover Messe 2006, the world’s
largest and most important annual technology fair. Clearly,
for India and those seeking a partnership with India, the time
is NOW! |
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