India to set up Steel Development Research Mission
As per the recent reports of Ernest & Young survey 2007 on emerging economies, India, will overtake the developed countries in economic growth by 2050.
It was reported that the India and China are increasingly seen as preferred investment destinations while the destinations for investments like Europe and North America are loosing ground to India & China.
India's rank as preferred detination has gone up in popularity to 26 per cent in 2007 from 11%, 3 years ago as per the number of respondents.The BRIC countries ie Brazil, Russia, India & China & countries like Mexico, Turkey & Indonesia are likely to emerge as 7 new economic powers by 2050 & are likely to overtake the economies (in terms of GDP) of the countries like USA, Japan, Britain, Canada, Germany, Italy & France, the G-7. However, the doubts were also expressed as to whether the development of infrastructure in India will be able to match the potential investments.
« Back
|