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Doing business in India 2012-13 EY report | business challenges India - EY - India

Leaders on India



"I believe that, around the world, there is enormous goodwill for India and most people continue to keep faith with the India growth story. It is natural that they look closely at certain economic indicators, one of them being the exchange rate. Volatility of the exchange rate has reduced in recent weeks. A reassurance on the investment climate, continued inflow of remittances, and a rise in capital flow – both FDI and FII – will bring further stability to the exchange rate. We intend to fine tune policies and procedures that will facilitate capital flows into India."

--P Chidambaram
Finance Minister, India



"The structure of the economy has changed since 1991. Our financial markets are more matured, more diverse and much deeper. They have the resilience to absorb shocks. India’s growth story is intact..."

--D. Subbarao
Governor, RBI (April 2012)

"It is important for India to continue withits structural reforms to sustain its highgrowth. The fact that even seven per centgrowth is spoken of as not being good provesthat the Indian economy has set high benchmark. India and the World Bank Group havebeen exceptionally good partners during a timeof financial turmoil and economic uncertainty.India should take its priorities forward tomeet the challenges and opportunities lyingahead. This would ensure continuance ofthe momentum of the Bank’s successfulengagement with India."

--Robert B. Zoellick
President, World Bank Group,March 2012

 

Quick facts on India

  1. India exports software to 90 countries. India’s share account for 58% in the global sourcing industry. FY12, a milestone year for Indian IT-BPO industry, aggregate revenues cross the US$100 billion mark.


  2. The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) are the premier stock exchanges of India. BSE is the world’s largest stock exchange in terms of number of listed companies with more than 5000 companies. NSE is the world‘s third largest stock exchange in terms of number of transactions.


  3. India has the second largest pool of Scientist and Engineers in the World. India remained a major supplier of doctors and nurses to the developed countries over the years. The total number of registered allopathic doctors in the country in 2011 is 5.5 lakh and around 3.72 lakh nurses.


  4. India is the third largest economy in the world by GDP (PPP exchange rates) at US$4.46 trillion


  5. India is the largest producer of films in the world. Largest in the world in terms of ticket sales and 2nd largest in terms of revenue, with 3.3 billion tickets sold every year and in a transition of becoming a US$5 billion industry in the next two years.


  6. Demographically, India is a country of 1.2 billion people with more than 2/3rd of its population being less than 35 years of age. India’s growth story is largely driven by self-consumption and therefore the relative impact of global economic slowdown is lesser as compared to other economies.


  7. Available international comparisons show that India has the second largest number of telephone subscribers in the world (among 222 countries). Mobile tariffs in India are the second lowest in the world after Bangladesh.


  8. Globally, India ranks third in terms of manufacturing pharma products by volume. The pharmaceutical market grew at 15.7% during December 2011. The Indian pharmaceutical market is expected to touch US$74 billion sales by 2020 from US$11 billion in 2011.


  9. India is the world's second-largest producer of tea and the largest consumer of tea accounting for about 28% of global output and 14% of trade. There are about 1,600 tea estates in India and the industry employs more than two million people. Also among the top five producers of milk, sugar, cotton, coffee, spices, rubber, silk, and fish.


  10. The largest employer in the world is the Indian Railways, employing over a million people

 

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