• The Indian economy continues to be on a robust growth trajectory. The projected economic growth in 2007-08 is estimated at 8.7 percent as compared to 9.67 percent in 2006-07. The average Gross Domestic Product (GDP) growth rate during the years 2004-07 was 9 percent per annum. At disaggregated level the percentage growth in key sectors was 2.6 percent in Agriculture & Allied Industries, 9.2 percent in Industry and 11.2 percent in Services.
   

• The Planning Commission's Approach Paper for the 11th Five-Year Plan has set a growth target of 10 percent in the final year of the plan (2011-12).
   
• The Trade Openness Indicator (that is, the Trade to GDP ratio) has increased from 22.5 percent in 2000-01 to 34.8 percent in 2006-07, thereby reflecting greater integration with the world's economy.
   
• The globalization of Indian Enterprises and Indian Multinationals has propelled and increased outbound investment as compared to earlier years.
   
• Despite fears of a global economic slowdown, recessionary fears in the US, rising oil prices and slowing down of industrial production and deceleration in exports from India, the ET-NCAER Business Confidence Survey (BCI) reinforces the belief that India Inc's confidence levels continue to rise. The business confidence index (BCI) has risen 5.5% (8 points) to 154 for the quarter ended December '07, compared to the previous round held in October '07. A remarkable feature is that upbeat sentiment persists in this round after a smart recovery in the previous round. If this sentiment remains resilient, the BCI is likely to touch January '07's peak level of 157.3. The BCI, which had fallen for two consecutive quarters since January last year, is now showing signs of robust recovery.
   
• India's foreign exchange reserves ((excluding Gold and SDRs) stood at US$ 180 billion during 2006-07
   
• The Indian Rupee appreciated against Japanese Yen, US Dollar, Pound Sterling and Euro in 2006-07. In fact, the Rupee has appreciated by 8.9 percent against the U.S. Dollar in 2007-08.
   
• India has improved its position by two places in the World Economic Forum's Global Competitiveness Index (GCI) rankings for 2006-07 coming in 43rd, well ahead of Brazil (66), China (54) and Russia (62). The report measures the steps taken by the economies to encourage companies to set up shops also lauded efficiency gains made by India in labor and financial markets.
   
• The size of the Indian Economy at market exchange rate is estimated to exceed US $1 trillion in the current fiscal year.
   
• The number of registered Foreign Institutional Investors (FIIs) rose to 1,219 at the end of 2007 from 1,044 in the corresponding period of last year. The number of sub-accounts also increased to 3,644 from 3,045, over the same period.
   
• Increased foreign investment is continuing and spreading over a range of economic activities. There has been a 150 percent increase in net foreign inflows in 2006-07 to US $23 billion. The trend has continued in the first six months of the current financial year with the gross foreign investment reaching US $11.2 billion.
   
• The flow of investments into the Indian capital market and developing countries has increased, potentially due to the sub-prime mortgage situation in the United States. For the longer term, the problem of excess capital inflows is proposed to be addressed by deepening productivity gains, interest differential and build up on the expectations on the rupee.
   
• Trade deficit rose to US $42.4 billion equivalent to 8.1 percent of GDP.
   
• Owing to pressure on domestic prices by global commodity prices and supply constraints in some essential commodities - consequently the average inflation in 2006-07 was estimated at between 5.2 and 5.4% in India Union Budget 2007- 2008, although the figure is closer to 8 percent currently.

Sources: Summary of India's Economic Survey 2007-2008 and ET-NCAR Business Confidence Index