India The Real Rising Star

While China is taking center stage in the media for economic growth, India is moving to displace its diva counterpart. India’s GDP rose by more than 10% in the fourth quarter of 2003 with a GDP growth rate of 7.2% expected for 2004, according to a recent edition of <i>The Economist</i>. Last month, the second most populous nation in the world reduced its 2003 $15 billion trade deficit by $3.2 billion. India exports light manufacturing products such as textiles and some agricultural products. Software is also moving into the export fold. The country benefits from foreign companies outsourcing information technology and financial analysis to Bangalore in the south and Bombay in the west, also known for its “Bollywood” film industry. Download here