Economic Trends and Issues
In the revised 2007 figures, based on increased and sustaining growth, more inflows into foreign direct investment, Goldman Sachs predicts that "from 2007 to 2020, India’s GDP per capita in US$ terms will quadruple", and that the Indian economy will surpass the United States (in US$) by 2043. In spite of the high growth rate, the report stated that India would continue to remain a low-income country for decades to come but could be a "motor for the world economy" if it fulfills its growth potential.
According to the official estimates, Indian economy is expected to grow at 7.6% (+/- 0.25%) in the fiscal year 2012–2013. However, leading financial organisations and economic think-tanks expect Indian economy to grow slower than official projections.
| Organisation | Estimated GDP growth rate | Month of projection |
| International Monetary Fund | 6.1% | July 2012 |
| World Bank | 6.9% | June 2012 |
| Asian Development Bank | 6.5% | July 2012 |
| Nomura | 5.8% | June 2012 |
| Morgan Stanley | 5.8% | June 2012 |
| JP Morgan | 6-6.5% | June 2012 |
| Goldman Sachs | 6.6% | May 2012 |
| Bank of America- Merrill Lynch | 6.5% | May 2012 |
| HSBC | 6.2% | June 2012 |
| Standard Chartered | 6.2% | June 2012 |
| Centre for Monitoring Indian Economy | 7.2% | July 2012 |
Read more about this topic: Economy Of India
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