Indian economy was/is termed as one of the fastest growing emerging economies globally. In mid April S&P cut India’s outlook to negative. Reliance had lost it’s number one ranking in terms of market cap to FMCG major ITC. And now… Indian economy has been hit hard by global woes and domestic problems, India’s economic growth rate slowed to a nine-year low, both in the March quarter at 5.3 percent as well as in 2011-12 at 6.5 percent, Government and entrepreneurs should take a strict measure to arrest slowdown.
GDP numbers were announced yesterday and the Sensex was down over 100 points.
The growth of manufacturing has come down in negative which now stands at -0.3% compared to 7.3% last year.
Here is an interesting infographic from Hindu Business Line:
So what’s up with the wealth of the rich people in India? It must have surely tumbled down a big time.
Did you know Internet contributes 3.2% to the Indian GDP?