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About India

About India  |   Definition of Indian SMEs   |   Doing Business with Indian SMEs  |   Opportunities

India with its population of over 1.2 billion people represents 17.31% of the world’s populations. India over a period since its independence has slowly and steadily accelerated its economic growth. Policy reforms, removal of License Raj, industrial reforms and other initiatives taken by the government led to the overall economic transformation of the country. It can now be said that India can succeeded in transforming itself from third world country to the 4th largest economy of the world and is also considered to become the world’s largest economy by 2050, overtaking US and China. Such is the potential of the country.

What drives Indian economy is its young workforce. The statistics indicate that over 60% of country’s population is the youth and over 40% of the total population falls in the employable population. This make the youth to the biggest asset for the country. India’s GDP stands at US $4.06 trillion as compared to US GDP which stands at US $14.72 trillion. Also the GDP has witnessed a healthy growth rate of 8.2% and is projected to grow at over 9% annually. With this growth rate, India would not take even 40 more years to achieve the GDP figure at par with US and China.

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