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India - an Overview of its
prowess |
India
is one of the most powerful military and economic powers of the world. India, the world's
largest democracy, has the world's second highest population of about 1 billion.
Fundamental
strengths of India:
| A strong, vibrant and growing economy |
Self-sufficiency in agriculture |
| Buoyant industrial growth (0.6% in 1991 to
almost 10% in 2007) |
Well developed banking system and financial
markets |
|
World's
Biggest Democracy |
High domestic savings and investment rates |
| Strong and mature private sector |
Comfortable balance of payments situation |
| High exports growth rate |
Low inflation |
|
Strong
legal and accounting system |
Established
independent judiciary |
| Large and diversified infrastructure and industry |
A
free and vibrant press |
|
Use
of English as the link language |
Current account convertibility |
For hundreds of years, India meant mystery, wealth, and excitement to
people of the Western world. Early European explorers, traders, and adventurers traveled
to India for jewels, rugs, silks, spices, and other valuable articles. Christopher
Columbus was looking for an easier route to India when he arrived in America.
Land
Area
Inspite
of being the second most populous country in the world its not even amongst the 20 most
densest. In land area it ranks seventh in the world:
Largest
Land areas
Source: US Bureau of Census
| Country |
Land area (sq. km.) |
Russia
China
Canada
USA
Brazil
Australia
India
Argentina
Kazakhstan
Algeria |
17,075,400
9,326,411
9,220,970
9,166,601
8,456,511
7,617,931
2,973,190
2,736,690
2,717,300
2,381,741 |
Note:
- This census includes the Tibetan area illegally occupied by China, as Chinese land
- This census does include in India, the Kashmiri areas illegally occupied by Pakistan and
China.
Doing business in India
According to "Economic Freedom of the World, 2006" and World Bank's
"Doing Business 2007":
-
India is ranked 53rd out of 130
countries in the Freedom of the World Index.
-
Starting a business in India
takes 35 days (same in China), but only 11 in Hong Kong.
-
Winding up a business takes a
phenomenal 10 years in India, 2.42 in China and 1.08 years in Hong Kong.
-
Indian businesses need 270 days
to complete 20 procedures for various permits and licenses. China takes 367
days for 29 procedures and Hong Kong takes 160 days.
-
Businesses in India make 56
different tax payments (including Provident fund, gratuity etc.), in China
44, and in Hong Kong just 4. The effective tax rate is an astonishing 81% of
gross profits in India, 77% in China and just 29% in Hong Kong.
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Fast
Facts:
- India is the most diverse country on
earth in terms of size, culture, climate, religion. geography, languages and wealth.-
India was the richest country on earth till the British invasion in
the 17th century
-
India has the seventh largest land area in the world |
