Stellar growth

With a growth rate of 10.4% in the third quarter, it is expected that Indian economy will beat the government’s forecast of 8.1% for the fiscal year 2003/04. Jivha and Rajesh provide their take. There was strong growth in agriculture, which accompanied healthy growth in manufacturing and services.

By the way, this came even before Vajpayee’s visit to Islamabad SAARC summit and the beginning of the bonhomie. Evidence surely that India’s economic growth is not hostage to its relations with Pakistan.

More good news came from yet another index

The AT Kearney Offshore Location Attractiveness Index 2004 has analysed the top 25 offshoring destinations against 39 measurements in three major categories: cost, people skills and availability, and business environment.

“India’s pre-eminence as an offshore location is remarkable. While the mix of cost and quality criteria used in the index results in most countries clustered in a narrow band, India outperforms its nearest competitor by a very wide margin,” says the report. [Financial Express]

One thought on “Stellar growth”

  1. India’s stellar growth is partly to a good monsoon last year which helped the agricultural sector. While the hype about call centers and outsourcing in general has led to increased visibility for India, albeit negative, the real question is – is India producing something of value or does it operate as a giant body shop?
    the labor advantage while an attraction today can change pretty rapidly – it could be South Africa, Philipinnes or even Mexico and Canada tomorrow. India has not built a sustainable economic model which helps us maintain a consistent growth rate and take care of its citizens.

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