"India is clearly becoming a more and more important player on the world stage in G20 context, in terms of its role in the global economy. It is very useful for us to exchange ideas and build the basis for future collaboration," according to Mr Ben Bernanke, Chairman, US Federal Reserve.
India is the fifth best country in the world for dynamic growing businesses, according to the Grant Thornton Global Dynamism Index. The index gives a reflection of how suitable an environment it offers for dynamic businesses.
In addition, India's economic confidence registered an increase of 8 points, to reach 68 per cent in August 2012 as compared to the previous month, according to the 'Ipsos Economic Pulse of the World' survey. This makes India the fourth most economically confident country in the world.
India ranks fourth on Ernst & Young's (E&Y) renewable attractiveness index. India ranks second on the solar index, and third on the wind index, as per the latest study by E&Y and UBM India Pvt Ltd.
Moreover, Indian firms took pride at the 2012 Platts Top 250 Global Energy Company Rankings. Six of the 12 Indian companies which were in the ranking, also made it to the list of top 50 fastest growing companies.
The Economic Scenario
India is expected to be the second largest manufacturing country in the next five years, followed by Brazil as the third ranked country, as per Deloitte Touche Tohmatsu Ltd (Deloitte).
Some of the other important economic developments in the country are as follows:
- The cumulative amount of foreign direct investments (FDI) equity inflows into India were worth US$ 179,025 million between April 2000 to August 2012, of which US$ 8,166 million was recorded during the April 2012 to August 2012 period, according to the latest data published by Department of Industrial Policy and Promotion (DIPP)
- Total exports from the Indian services sector stood at US$ 11.94 billion in September 2012, up 6.3 per cent from US$ 11.23 billion in September 2011, as per data released by the Reserve Bank of India (RBI)
- Foreign institutional investors (FIIs) remain substantially bullish on Indian markets and have invested over US$ 13 billion into Indian stocks so far in 2012
- Mergers & acquisitions (M&A) and private equity (PE) deal activities witnessed an increase in October 2012 with cumulative value worth US$ 3.1 billion from 90 transactions
- PE firms have invested US$ 2.5 billion in India across 97 deals in the third quarter (Q3) of 2012, registering four per cent increase in terms of value, as compared to US$ 2.4 billion in Q3 of 2011, according to a study by PricewaterhouseCoopers (PwC)
- Foreign institutional investors (FIIs) made a net investment of Rs 11,364 crore (US$ 2.05 billion) in the equity market and of Rs 7,851.70 crore (US$ 1.41 billion) in the debt market upto October 12, 2012 in the current year, according to data released by the Securities and Exchange Board of India (SEBI)
- Foreign investments in Indian markets through Participatory Notes (P-Notes) peaked to a seven month high of Rs 1,46,600 crore (US$ 26.41 billion) in September 2012, sustained by expectations of fresh initiatives by the Government on policy reforms as well as the QE3 in the US boosting investor sentiment
- India is expected to receive remittances worth US$ 70 billion in 2012, emerging on top of the list of developing countries which are expected to receive a total of US$ 406 billion remittances in 2012, according to the World Bank