Indian economy is only looking upwards..
Global recession has only helped India in moving towards being a more stable and better economy in the years to come. It is also a land of opportunities like no other. The reason for same is many fold.
One, people in India are slowly realizing that we are way too dependent on US economy. Indian economy was doing well and the banks here were more sensible to not expose their portfolios too much and create US sub-prime like situation. Inspite of that we are bearing the brunt. This has made people in India sit up and look for alternatives to make ourselves more risk averse. A recent example is Infosys and Wipro are trying to expand their customer base in India.
Second, India has a huge untapped market. Young working generation is awakening to the immense potential of absorbing new ideas in this ever growing markets. The recession has only helped people work on their ideas sooner. We see more and more entrepreneurs coming up with all new ideas. It should also be noted that India has good number of people in the working age group & this is likely to keep growing till 2020 (unlike our competitor China, whose working population is set to fall due to one child policy).
We have also seen a lot of inventions in the last decade. It is the developing countries who benefit most from the latest inventions. India fits the bill the best.
Not to forget the contribution of the government. Inspite of all its evils, Indian policies have help it make a mark in the international fraternity. India has wisely been saving and investing 25% of its GDP while maintaining a growth of ~7% over last 5 years. This ratio is again much higher than our closest competitor China. All these jointly offer a promising environment for foreign investments and home grown entrepreneurs, thus creating more employment opportunities in India.
Keeping the above points in mind, the future for India holds a strong, more independent and stable economy.
