World Economic Forum special report: Contents
India has been investors’ emerging market darling for a couple of years. It has lifted its growth trend from the socialist 3.5% “Hindu rate” of the 1970s, to 5.5–5.75% in 1980-2000, and now 6.5%. Its large, educated, English-speaking labour force has made it less reliant on export-led growth, China-Tigers-style, more on human capital. Savings and investment have risen to 27% and 30% of GDP respectively in 2005 – fuelling growth through a relatively developed financial sector without an “Asian glut” of savings.
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