India enters the $trillion league !!

Not always does rising rupee bring joy to exporters. The structural adjustment infact has been worry for them. One cannot gauruntee this was totally expected, atleast this soon ! Even the RBI. The following reflects their view :
"The government has released an estimate of 9.2 percent for this year. There is clearly an upward movement toward sustained growth of 9 percent as expressed officially," Rakesh Mohan noted. "We should be a trillion dollar economy by next year. I mean 2007/08."



As Economic Times points out it was quicker estimate revelaed by a swiss Co:


"Indian GDP at the current price level is 41 trillion rupees. With the rupee appreciating to below 41 against the US dollar, yesterday was the first day for the economy to be a trillion dollar economy," the Swiss investment firm said in a note. "



Definitely a pleseant surprise. This will definitely enhance the investor confidence in India inspite of global oil & terror threats. No wonder the post 1991 refroms were watershed for India's economy revitalising itself. Atleast now the critics can lower their voiceif not stop. Because they would be quick to questions its sustainability ! Well even in 1991 external debt crisis not many agreed India's comeback, well today ???



See below for ranking (Courtesy : Times Of India - India poised campign )




Just above India is Russia & Brazil !! 3rd Asian giant to do so !
But in terms of PPP we stand 4th after US, Japan & China..

But our 20M NRI's seem to be standing even taller , their combined worth greater than India's GDP ! No wonder Deepak Parekh's committee recommended to use part of Forex for Infrastructure development ! But first aim should be to attract the remittances !



Bold new & bright future is greeting us and it will be our's to loose !