Our forecast for the end of this year is that we believe that the Indian economy will benefit from decline in energy commodity prices, interest cuts and weaker rupee which makes Indian manufacturing and software services more competitive.
For investments, India still a hot destination: JP Morgan - CNBC-TV18 -
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Yet, despite the economic malaise and current political paralysis, Indias long term prospects are undiminished.
The fundamentals that have underpinned over 7 percent average growth during the past decade are still intact. For an economy roughly the size of Canadas, 6.5 percent growth expected this year isnt shabby.
Democracy is one of Indias greatest strengths. For a country of Indias size and diversity, it is the only feasible system of government. Indian democracy is slow moving and uneven, but it expresses the popular will and therefore mitigates political risk. To paraphrase Churchill, it may not be perfect, but it is the best system available.
India is also the worlds largest federation. Its 29 states have considerable autonomy in economic matters which explains why some are more business friendly, and consequently faster growing, than others. This disparity together with an increasing willingness to vote across caste and religious lines has resulted in the ouster of some non-performing state administrations and improved the performance of others. Formerly backward states such as Bihar and Orissa now exceed the national growth rate.
India's slowing growth not a worry in the long run | CanadianBusiness.com
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India's forex reserves rose by $2 billion in the week to June 15: RBI - The Times of India
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India has overtaken the United States of America (USA) to become Nigeria's major export trading partner, according to the First Quarter 2012 Trade Statistics released by the National Bureau of Statistics (NBS).
It came as the Indian government yesterday expressed interest in higher volumes of term contracts of crude oil supplies with the Nigerian National Petroleum Corporation (NNPC).
The NBS report, which put the total value of the nation's exports in Q1 2012 at about N4.9 trillion, showed that total value of exports to India reached N688.5 billion compared to N607.7 billion credited to the US in the period under review.
The US was trailed by the Netherlands with N482.1 billion followed by Spain with N390.4 billion and Brazil which recorded N328.9 billion.
The relegation of the US to the second position is seen as a major development for Nigeria and India trade relations given that the US had remained the former's biggest trading partner since 1964.
allAfrica.com: Nigeria: India Displaces U.S. as Nigeria's Major Trading Partner
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