India’s Government Aims to spend $500 billion by 2012


India’s government aims to spend $500 billion by 2012 to build roads, ports and power supply to boost growth and incomes in Asia’s third-biggest economy.

The Indian economy has grown steadily over the last two decades.

India has a labor force of 509 million +, 60% of which is employed in agriculture and related industries; 28% in services and related industries; and 12% in industry.

Major industries include automobiles, cement, chemicals, consumer electronics, food processing, machinery, mining, petroleum, pharmaceuticals, steel, transportation equipment, and textiles. Textiles, jewelry, engineering goods and software are major export commodities. Crude oil, machinery’s, fertilizers, and chemicals are major imports.

India’s many attractions have been well-chronicled, but they can’t be emphasized enough.

Tradition of democracy, respect for the rule of law and widespread fluency in English.

These qualities are not easy to find in emerging markets and they give India a huge advantage in the global marketplace.

India has emerged as the third largest steel producer, beating Russia and United States. The decrease in demand and sharp production cuts in these countries has apparently propelled India into the top league.

As per the latest reports from the World Steel Association, the US cut production 52.5 percent during quarter ended March, 2009, and Russia 33 percent.

Conversely, India saw just a decline of 7.9 percent, in the same period. China and Japan occupied the top two positions.

India has huge potential to invest and with the pace of population growth.

India is set to overtake China as the world’s most populous nation by 2050.