India
India - the very name conjures images of vibrant colours, mysticism, royalty; an amalgam of religions, a kaleidoscope of art and culture, all of which find expression in the beautiful temples, sculptures and monuments. India is undoubtedly one of the most diverse nations in the world. It is a land of credible paradoxes and yet underlying the contrasts, there are patterns of continuity, an indefinable essence that is quintessentially Indian.
Much of India's fascination perhaps lies in the fact that it is both a young nation and an ancient country rolled into one where past and present co-exist in a beautiful mosaic.
India, it is often said, is not a country but a continent. From north to south and east to west, the people are different, the languages are different, and the country is different. There are few countries on earth with the enormous variety that India has to offer. Travelling through the country is not just a journey but also an experience of a lifetime. The rich tapestry that is India cannot be captured in a single word or expression. At times unbelievable, at times overwhelming and always incredible!
India's economy has performed extremely well in recent years with recorded growth of approx. 8.5% in the fiscal year ending 2010 largely due to continued global demand for business processing, information technology, telecoms and manufacturing. Leading Indian enterprises are also spearheading a new wave of investment around the globe with the likes of Tata and Mittal leading the way, and by 2025, it is estimated the country could have more than 580m middleclass consumers.
However, India's economy remains mostly agricultural. The caste system limits economic mobility, parts of the country are cut off from the benefits of free trade, and limits on foreign direct investment make growing businesses difficult. Economic reforms, especially labour market reforms, have been slow in coming, and a plan to institute special economic zones has been frozen. India is also one of the biggest carbon emitters in world. It is thus the huge and growing population that is both a tremendous economic opportunity and a key social and environmental challenge.
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