India Experiences High Economic Growth Rate

http://www.nytimes.com/2010/09/01/business/global/01rupee.html?_r=1&scp=1&sq=india%20economy&st=cse

The NY Times reported that at the end of June this year, India experienced an economic growth rate of 8.8%. This is incredibly high considering India's developing economy and the world-wide economic downturn. Leaders in India hope to keep the growth pushing upwards of 10% to sustain the large younger population. "India needs faster growth to alleviate poverty and increase job opportunities for a young population; about half the Indian people are 25 or younger."

It is not expected that this growth will continue to grow however, with such main stays as exports, already falling. The global market is already in a tenuous state, and India is not immune from that, especially as a developing economy. Another issue to consider is large company's attraction to invest in India for the long term, again to supply jobs for the younger generation and to create sustainable growth for the economy at large.

Megan Morrow