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On India

Half a Century after gaining its independence, India has overcome all odds and achieved phenomenal standards of economic stability, courtesy the indomitable contributions of various sectors such as agriculture, tourism, commerce, power, communications, science & technology, etc.

  • Despite the global economic slowdown, India still remains the world’s second fastest growing economy as stated by Mr. Pranab Mukherjee, Finance Minister, India.
  • He further states that the economic growth of the country will be 7.1% of the GDP
  • The country is ranked fourth in terms of Purchasing Power Parity (PPP).
  • The business and regulatory environment is evolving and moving towards constant improvement.
  • India had received 24.57 billion dollars in Foreign Direct Investment (FDI) during the last fiscal 2007-2008. (source: Ministry of Commerce-GOI)
  • India has one of the most transparent and liberal FDI regimes among the developing countries with strong macro-economic fundamentals. India therefore remains an attractive investment destination and it will be a good parking lot for money.
  • According to reports, India has set a USD 35 billion dollars FDI target for the current fiscal.
  • The policy for FDI allows freedom of location, choice of technology, repatriation of capital and dividends. As a result of these measures, there has been a strong surge of international interest in the Indian economy.
  • The rate at which foreign direct investment has grown during the post-liberalisation period is a clear indication that India is fast emerging as an attractive destination for overseas investors. 
  • India is now a trillion-dollar economy
  • According to a Credit Suisse report, Indian GDP at the current price level of the rupee (Rs 40.76 per $) stands at $1trillion.
  • The strengthening rupee has now made India the 12th country to achieve this milestone.
  • The Reserve Bank of India says that the Indian economy is expected to post a robust growth for the fourth straight year, expanding by an accelerated 9.2 per cent in 2006-07 as against 9 per cent in the previous fiscal.
  • The acceleration in growth is driven by continued momentum in the services and manufacturing sectors, growth of which are expected to be in double-digit figures.