The Worlds Bank’s annual Global Economic Prospects 2010 Report says that India “is expected to grow at 7.5-8 % in 2010-11 and 2011-12, respectively, well above the 6.4 % average posted during 1995-2005″.
India’s own central bank, the Reserve Bank of India had already estimated growth in India at 7.5% for 2009-10. Foreign direct investment inflows to the country are expected to increase in 2010 as well.
The author of the report, Hans Timmer, who is the director of the World Bank Prospects Group said “India weathered the global crisis relatively well, in part due to the government’s quick response in easing monetary policy and counter-cyclical fiscal policy measures that supported domestic demand”.
Posted on February 4th, 2010 by Gunjan
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. He is author of Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market (Hachette Book Group, July 2008).
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