India earns the title, the fastest growing economy in the world.

September 26, 2016 All News, India 0 Comments

Gross domestic product growth dipped to 7.1% in the quarter ended June 2016, a disappointing performance but one that still trumps the 6.7% posted by China in its most recent quarter. The Indian government is particularly proud of its efforts to increase foreign investment. And indeed, its campaign has paid dividends, with investment from the U.S. increasing by 500% over the past two years to $4.2 billion. Despite the doubts, India remains an attractive bet for multinationals. The country’s growing middle class has money to spend, and its youthful population offers huge potential. The prospect of turning that potential into profits has lured a parade of foreign executives to India: the CEOs of Microsoft , Google and Apple have all visited the country in the past year. Prime Minister Modi spent huge amounts of political capital getting his signature Goods and Services Tax approved by legislators in August. When implemented, it could boost the economy by simplifying the country’s byzantine tax system. More info source