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Money Matters
India’s Economic Hotspots: India’s real growth story India’s emergence as an economic powerhouse is based on the socioeconomic reforms channelized by India’s emerging hotspots. By Prajakta Ambre
February 2011
Money Matters
India’s Real G
Mumbai
I
ndia has come a long way since 1999, the year of major socio-economic reforms. Besides being branded as the most culturally diverse country on the global front, India is also known as the next powerful economy after the USA. The economic developments of 1999 that helped reforming the core socio-economic structure of India have contributed significantly to the financial makeover of the county. Visit us online at www.businessreviewindia.in
Growth Story
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India embodies an interesting mix of various metropolitan cities, which are emerging as new economic hotspots of India and will change the face of India’s progress card very soon. Not to forget that these economic hotspots are also the potential real estate markets and they will mark robust growth with the advent of the infrastructural improvements that have started picking up. Along with hot Tier I real estate destinations like February 2011
Money Matters
India’s Real G
Mumbai, Delhi, Bengaluru, Pune and Hyderabad, Tier II and Tier III cities in the North, South, West and East regions of the country, which are located at Madhya Pradesh, Punjab, Rajasthan, Uttar Pradesh and Haryana will play a crucial role in India’s augmentation. A quick glance at the real estate boom in India
Real estate is one of the booming sectors in India. We have seen many ambitious, infrastructureoriented projects coming up Real estate is a booming sector in India
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Growth Story
page 67
For investment opportunities in the world, India stands tall amid other potential countries Prajakta Ambre, Associate Editor
in India, which are directly associated with India’s expansion plans. Residential and commercial projects taking shape in India’s Tier II and Tier III cities signify nothing than colligated growth. Upcoming SEZs and infrastructure development plants put up by the overseas companies will not only attract foreign direct investment but also more jobs. When we spoke to Gaurav Sharma, Advisor from one of the rapidly growing broking firms in India about the future of India’ real estate market, he said, “It is true that the property prices are skyrocketing in major cities of India. However, in order to be February 2011
Money Matters
India’s Real G
The Green Revolution effect has introduced prosperity to India
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Growth Story
page 69
on the path of progress, we need to understand the hidden benefits attached to the continuous development of real estate properties.” GDP Growth: India’s most dependable trump card
Rate of India’s GDP growth (Gross Domestic Product) has been phenomenal. According to a survey conducted in 2009, the GDP growth rate for 2009-10 was 6.5% and the latest forecast mentions that India would be growing at the rate of 8.7% in 2011. Hence, the optimism in the domestic financial circuit of India is for the reason that India’s GDP growth is likely to aggregate.
NSEW Growth avenues North India
The northern part of India has seen rapid growth, which has ranged above 8% per annum. The Green Revolution effect (Harit Pradesh Movement) has February 2011
Money Matters
India’s Real G
induced prosperity to states like Uttarakhand, Himachal Pradesh, Punjab, Uttar Pradesh (western zone), Haryana and union territories of Delhi and Chandigarh, except Bihar, however. Gurgaon and Noida have registered maximum growth (137%) in 2009-10, while regions like Ghaziabad, Faridabad and Kundli have been favorable, especially for the growth pertaining to the real estate business. East India
Growth patterns in East India revolve around the output generated in semi-rural areas like Kharagpur of West Bengal, Orissa, Jharkhand, Assam and north-eastern states like Sikkim, Darjeeling, Manipur, etc. A paradigm shift in the growth models of these states was seen in after Visit us online at www.businessreviewindia.in
Growth Story
page 71
2005 when peculiar efforts from the administration were made to channelize growth. South India
The geographical spread in South India is huge and February 2011
Money Matters
India’s Real G
since the economy is largely agrarian, south Indian states are considered as promising lands where cultivation of spices and key crops like rice, ragi and sorghum fetch tremendous profits. West India
West Indian states like Maharashtra, Gujarat,
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Growth Story
page 73
Goa, etc create 20.34% of the national GDP of the country with an annual growth rate of 14.5%. These states have the strongest economical prospects that drive the growth of the national economy. The road ahead
When it comes to looking for investment opportunities in the world, India stands tall amid other potential countries simply because it offers excellent resources required to achieve intensified growth. It is said that the frontier markets of today become the blooming powerhouses of tomorrow, which clearly means that India is definitely on the right track. brin
February 2011