Indian Economy-News & Updates
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russellpeters
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it will be more like $10 trillion by 2020...money breeds money
CaptainPlanet
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I have no doubts that our country will rise a major economic power.... but this rate seems a little unrealistic to me !!! 
russellpeters
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I have no doubts that our country will rise a major economic power.... but this rate seems a little unrealistic to me !!!
assuming a GDP of $4 trillion by 2015 is not very unrealistic...if it grows at the same rate plus there is more new money in the economy plus better infrastructure all around the country, $10 trillion is not an unrealistic target.
2016 is going to be a golden year in the history of indian economy.many infrastructure projects are going to become mature by that time, $1 trillion worth of infrastructure will get built by that time.
this includes highways, expressways, numerous rail projects, the urban renewal mission, the solar mission, numerous chemical and engineering plants, airports, all those metro projects and ofcourse thousands of projects in the metro regions
IND151
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let our GDP be 2 trillion $ first
karan.1970
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I think russell is talking about PPP GDP which is over 3 trillion at this time
IND151
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that's correct
i live in navi Mumbai and infra here is better than many areas of Mumbai.
many areas in navi Mumbai have 4/6 lane roads from beginning.
IND151
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nominal GDP matters more than PPP.
our nominal GDP is 1.7 trillion $.
i hope till 2012 it becomes 2 trillion $.
karan.1970
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depends.. for imports, yes... but for FDI and domestic economy, its the PPP that is critical
Quick MIK
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Rupee depreciation will make this difficult.
Dalai Lama
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Seems Toyota are using South Africa as a Beta market. Somewhere to test the quality of made in India Vehicles.
russellpeters
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as karan said, nominal GDP is important for imports, but for local economy PPP remains critical..mumbai has respectable infrastructure and is getting better, and as its suburbs and navi mumbai mature, they will handle the huge population well.for this we need more decentralised development and navi mumbai holds promise...we also need better and efficent transport across the city..hope the slew of road and rail/metro/monorail projects changes things for the better!
Congress is one Crapa*s hellbent on sacrificing the Sea Links and going for Coastal Roads on the Western Front!
The Metro from Versova to Ghatkopar and Charkop to Bandra is the First Stop towards connecting East West Suburbs with BKC as the Centre!
Also Look at the eastern Suburbs, The Nhava Sheva Sea Link, Panvel Airport, Eastern Expressway - Lots of Potential to catch up to the Western Suburbs and Town!
Booming economy: India Inc expats' hiring up 20% this year
MUMBAI: With hiring activities in most Western economies in deep freeze, more and more foreigners, mostly from the US and Europe, are looking at India for jobs, a trend that has resulted in an up to 20% jump in expat hiring this year, according to headhunters.
According to industry estimates, there are as many as 40,000 expats working in various industries across the country today.
"Hiring of expats has picked up by 15-20 % at all levels since last year, mainly on account of India being one of the fastest growing economies, offering huge job opportunities ," recruitment process outsourcing firm Elixir's consulting manager for international practices, Ratnesh Kumar said.
An increasing number of expats are seeking jobs in the country on account of job cuts in their home countries, coupled with rising outsourcing and high taxes, he said, adding that this was happening more in the US and Europe.
The Indian experience also adds value to the expats' resume, reflecting an individual's ability to adapt and deal with diversity, he explained. These professionals are mainly being hired in the banking and financial services, automobile, pharma and retail sectors , apart from areas where the domestic industry does not have competencies, like alternative energy, the complex infrastructural sector, etc, he said.
"While CXOs are generally offered around $2,50,000 per annum, mid-manager level employees get $80,000-1 ,25,000 per annum ," he said. The number of foreigners seeking jobs in the country are no longer limited to the middle and senior levels, but is spreading over to beginners as well, he said, adding that at present, there were around 40,000 expats working in the country and the number was still growing.
What is interesting is that these expats are given compensation almost at par with what is being paid in foreign countries.
"Expats, with specialized skill sets, which are not available in the country due to financial or technology constraints, such as molecular research, are being offered highly attractive packages," Kumar said. Companies are also offering attractive leadership positions to experienced expatriates, ranging from mid-level managerial roles to departmental heads.
However, the attrition rate of expats is around 10% annually, mainly due to difficulties in communication and cultural differences , Kumar added.
Echoing a similar view, Globalhunt Director Sunil Goel said some global companies have their largest centres in the country on one hand, while on the other, many local organizations are also going global. "So expat hiring is becoming the need of the hour, where foreigners from various parts of the globe are taking up multiple roles and are recruited as experts in sectors like infrastructure , healthcare, power and energy, oil and gas and automotive," he said.
According to TeamLease Vice-President Rituparna Chakraborty, the country has seen increased demand for expats across various industries, especially following the 2008 recession in developed economies. "Professionals from Europe, South-East Asia and the US mostly are being hired, mainly by sectors like travel and tourism, retail , aviation, education and sports, where we see maximum traction," she said. Talking about salaries, she said, for most levels, it is on a par with industry standards, unless they are being brought in for a particular skill that is niche and non-existent within the country.
Booming economy: India Inc expats' hiring up 20% this year - The Times of India
MUMBAI: With hiring activities in most Western economies in deep freeze, more and more foreigners, mostly from the US and Europe, are looking at India for jobs, a trend that has resulted in an up to 20% jump in expat hiring this year, according to headhunters.
According to industry estimates, there are as many as 40,000 expats working in various industries across the country today.
"Hiring of expats has picked up by 15-20 % at all levels since last year, mainly on account of India being one of the fastest growing economies, offering huge job opportunities ," recruitment process outsourcing firm Elixir's consulting manager for international practices, Ratnesh Kumar said.
An increasing number of expats are seeking jobs in the country on account of job cuts in their home countries, coupled with rising outsourcing and high taxes, he said, adding that this was happening more in the US and Europe.
The Indian experience also adds value to the expats' resume, reflecting an individual's ability to adapt and deal with diversity, he explained. These professionals are mainly being hired in the banking and financial services, automobile, pharma and retail sectors , apart from areas where the domestic industry does not have competencies, like alternative energy, the complex infrastructural sector, etc, he said.
"While CXOs are generally offered around $2,50,000 per annum, mid-manager level employees get $80,000-1 ,25,000 per annum ," he said. The number of foreigners seeking jobs in the country are no longer limited to the middle and senior levels, but is spreading over to beginners as well, he said, adding that at present, there were around 40,000 expats working in the country and the number was still growing.
What is interesting is that these expats are given compensation almost at par with what is being paid in foreign countries.
"Expats, with specialized skill sets, which are not available in the country due to financial or technology constraints, such as molecular research, are being offered highly attractive packages," Kumar said. Companies are also offering attractive leadership positions to experienced expatriates, ranging from mid-level managerial roles to departmental heads.
However, the attrition rate of expats is around 10% annually, mainly due to difficulties in communication and cultural differences , Kumar added.
Echoing a similar view, Globalhunt Director Sunil Goel said some global companies have their largest centres in the country on one hand, while on the other, many local organizations are also going global. "So expat hiring is becoming the need of the hour, where foreigners from various parts of the globe are taking up multiple roles and are recruited as experts in sectors like infrastructure , healthcare, power and energy, oil and gas and automotive," he said.
According to TeamLease Vice-President Rituparna Chakraborty, the country has seen increased demand for expats across various industries, especially following the 2008 recession in developed economies. "Professionals from Europe, South-East Asia and the US mostly are being hired, mainly by sectors like travel and tourism, retail , aviation, education and sports, where we see maximum traction," she said. Talking about salaries, she said, for most levels, it is on a par with industry standards, unless they are being brought in for a particular skill that is niche and non-existent within the country.
Booming economy: India Inc expats' hiring up 20% this year - The Times of India
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