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Economic 360 for India: Growth Prospects and Emerging
Frost & Sullivan, Aug 2011, Pages: 156
Industrial production in India is divided into basic, capital, intermediate, consumer goods, and consumer non-durable goods industries. Manufacturing growth has been led by the automotive, machinery, textile, chemicals and metals industries. NMIZs have been set up to augment the industry by increasing the contribution of manufacturing to 25.0 percent of GDP by 2022. While industries such as textiles and automobiles are well established, electronics, pharmaceutical equipment are showing promise. The small car segment is likely to boom in the study period. Development of food parks and entry of new suppliers are likely to create immense opportunity for the food industry.
Political Factors
- India is a federal democratic republic with the Indian National Congress elected to form the Government. The next election scheduled for 2014 is expected to see the Bharatiya Janata Party and the Congress as the main contenders.
- The Government focus is mainly on inclusive growth, economic reforms, and ramping up national security. To achieve this, India has bilateral trade agreements and security agreements with the United States, the European Union, and all neighboring countries.
- The Eleventh Five Year Plan aims at enhancing investment and growth levels in agriculture, industry, and infrastructure.
- India's fiscal and monetary stance is primarily to contain inflationary pressures. The budget has allocated more than xx.x percent of expenditure to transport and rural development, which is indicative of a heightened focus on infrastructure development.
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