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placed than the US, exhibiting more stability with few rating
downgrades. "Investors in securitised paper in India have no
reason to fear crippling losses of the kind that have hit their US
counterparts," a Crisil release said.
Future perfect
The Planning Commission has ruled out any changes in the
average 9 per cent gross domestic product growth target of the
11th Five-Year-Plan, although there might be ‘some significant
reduction in growth’ next year as a result of the global financial
crisis.
India offers huge investment opportunities in various sectors
and investments are likely to pour into these sunshine sectors:
• The realty sector is likely to increase at the rate of 30 per
cent annually during the next ten years, drawing US$ 30
billion as foreign investment.
• The Indian IT market is projected to see 18 per cent
growth in 2008, touching US$ 38 billion.
• According to a McKinsey study, "The market size for the
food consumption category in India is expected to grow
from US$ 155 billion in 2005 to US$ 344 billion in 2025 at
a compound annual growth rate of 4.1 percent."
• According to the India Retail Report 2009, compiled by
research group Images F&R Research, the Indian retail
industry is likely to touch US$ 390.68 billion by 2010.
• According to a McKinsey study, the Indian pharmaceutical
industry is projected to grow to US$ 25 billion by 2010
whereas the domestic market is likely to more than triple
to US$ 20 billion by 2015 from the current US$ 6 billion to
become one of the leading pharmaceutical markets in the
next decade.
• According to a monthly review by the Centre for
Monitoring Indian Economy (CMIE), agricultural production
is likely to increase significantly during fiscal year 2009.
CMIE has projected a growth of 3.2 per cent during fiscal
year 2009, for the GDP of agriculture and allied sectors.
"This would be the fourth straight year of positive growth
in agricultural production, with the first three years
clocking an average growth of 5.5 per cent," CMIE stated.
The allied sectors comprising livestock, forestry and
logging, and fishing are likely to see a growth of 4.8 per
cent during fiscal year 2009.