According to recent projections, China’s economy would move ahead of the US by 2027, India would catch up with America by 2050 and BRIC (Brazil, Russia, India and China) nations, as a group, would surpass the G7 by 2032. “India’s position in the second place comes as no surprise.
The Indian economy has consistently been riding high on waves of growth since the 1990s and the current scenario has been characterised by an almost insatiable enthusiasm for technology, openness to global trade and tangible progress towards fiscal consolidation,” Chatrath added. The report also highlights the growing number of challenges in emerging markets. PHBs, in particular, face challenges given that the contemporary business environment is now global in nature and these businesses cannot operate domestically without reference to foreign markets.
PHBs in Kolkata have prioritised all factors that determine investments in order to develop new export markets at the top, while respondents in Mumbai ranked market size, growth potential and economic stability as areas of prime importance.
Respondents from Delhi have expressed infrastructure, competition and confidence in ethical business credentials as the main concerns. Those in Chennai considered geographical proximity, common language, labour considerations and the quality of international distributor as the factors affecting their investment decisions, the release said.
Grant Thronton-IBR emerging
Markets index 2008
Mainland China 496
India 234
Russia 142
Mexico 125
Brazil 113
Source: Grant Thornton International Business Report 2008
Epaper
Newsletter
Stocks
Weather
Horoscope
