Economy of India - Economic Trends and Issues

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.

Indian economic growth outlook April, 2012 – March, 2013
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

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