Economic Department – Consulate General of Israel, Mumbai

Indian Economic Report

Indian Economic Report

 

The Gross Domestic Product (GDP) in India expanded 6.1 percent in the fourth quarter of 2011 over the previous quarter. Historically, from 2000 until 2011, India’s average quarterly GDP Growth was 7.45 percent reaching an historical high of 11.80 percent in December of 2003 and a record low of 1.60 percent in December of 2002. Projecting a moderate increase in growth rate for India to 7 per cent in 2012-13,

The Indian economy has continuously recorded high growth rates and has become an attractive destination for investments, according to Ms Pratibha Patil, the Indian President. “Today India is among the most attractive destinations globally, for investments and business and FDI had increased over the last few years,” said Ms Patil.

India’s economic growth is expected to remain robust in 2012 and 2013, despite likely headwind of double-dip recessions in Europe and the US, according to a United Nations’ annual economic report – World Economic Situation and Prospects 2012. The Indian economy is expected to grow between 7.7 per cent and 7.9 per cent this year, as per the report.

India is the second most preferred destination for foreign investors. The wealth of high net worth individuals (HNIs) in India, is set to grow by a compounded annual growth rate (CAGR) of 23 per cent over the next four years and will touch a staggering Rs 249 trillion (US$ 5.05 trillion), highlighted a report by Karvy Private Wealth – the wealth management arm of the financial services. India has emerged as the world’s top recipient of officially recorded remittances for the fourth straight year. India is expected to receive US$ 58 billion this year, followed by China, and Mexico, as per the latest issue of the World Bank’s Migration and Development Brief.

The report summarizes the results of the Sectorial Outlook Survey 2011-12 to gauge the level of optimism in the different sectors of the economy. The survey results make an attempt to provide insights into the challenges faced by various sectors and the strategic focus of India Inc. The Sectorial outlook survey 2011-12 reveals the increasing importance of risk management within India Inc.’s strategic planning – majority of the respondents from most of the sectors have rated risk management to remain as their major strategic focus. In the fast changing economic environment, both domestically and internationally, businesses are exposed to ever evolving risks scenario and therefore is likely to have reinforced the importance of good risk management practices.

Indian Economic Outlook 2011-12

Economic Journey FY11

Quick glance at the year that was

India Outlook FY12 

Sectorial Outlook 2011-12

Overview of India-Israel Bilateral Trade and Economic Relations