Indias ever growing economy
Indian economy is presently poised at an inflatable state of prosperity. Since the economic liberalization initiated in the 1980s, there has been no looking back for India as the growth curve soars high. With the sensex crossing the record 10,000 mark, a stable 8 percent annual growth, rising foreign exchange reserves of close to US$ 140 billion, foreign direct investment (FDI) close to US$ 8 billion and more than 20 per cent surge in exports, the transformation of India into a leading destination for foreign investment is an achievement par excellence. The Indian economy charged up by leaps and bounds only after the Indian government announced relaxation in FDI rules allowing 100% FDI in many sectors and increasing the investment cap in some more sectors. Moreover, industrial policy which in the past imposed too many restrictions on domestic private sector activity has been completely restructured to create more vibrant and market friendly environment. The Banking industry has also shown its keen interest to support real estate business by providing never better loan and mortgage facilities. This has greatly strengthened the roots of banking in India by NRI and citizens of India. The manufacturing and the services sector have also become a major driving force for the Indian economy. All this has brought about major investments in the IT, ITES and the BPO sector. The manufacturing industry has also seen premier automobile and appliance manufacturers from around the globe starting their operations from India. Real Estate Getting More Professional
India is increasingly attracting the worlds interest for its impressive economic performance and driven by positive growth in the economy, real estate in India is booming. And as the Indian Government allowed 100 per cent foreign direct investment (FDI) under the 'automatic route' to the construction and development sector in February 2006, investment in the vital infrastructure sector is beyond expectations. With the entry of big foreign investors the Indian realty market is clearly in transition mode from an unorganized sector to a more professional segment. Residential property in India has turned out to the huge profitable opportunity in India. Real Estate India is on an upswing with builders trying to outdo each other with smart features, trendy styles and lifestyle enriching atmosphere promising world-class luxury. This has been an encouraging trend for NRIs willing to have a second home in India. Although the latest status of Indian economy is focusing on Indian equities but the silent but hugely profitable opportunity in India is the Indian Real Estate the clear winner. |
