Indian economy expected to grow at 9 pc in 2007
New Delhi: The Indian economy is expected to grow by 9.0 per cent in 2007 as against 9.2 per cent in the previous year despite concerns of overheating, rising rupee and slowdown in US, according to a report by the United Nations.

Aiding India's growth will be low oil prices, control on inflation and lesser reliance of its economy on exports, the UN Economic and Social Survey of Asia and the Pacific said.

The report also said despite prospects of good growth, the Indian economy was overheating and the surplus in balance of payments was not there to provide cushion from external shocks.

It said even though oil prices were expected to be USD 60 per barrel as against USD 65 per barrel in 2006, inflation in India would come down to 5.0 per cent this year from 6.0 per cent. Additionally while the US slowdown and uncertainty over sustainability of Japan's revival would represent a downside for other economies of Asia-Pacific, India would be isolated as its economy was less dependent on exports.
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Per capita income of India to rise four times by 2020
New Delhi: Global investment and banking firm Goldman Sachs said the per capita income of India is expected to increase four-fold by 2020.

The consumption of cars is expected to go up five times, crude oil three times and the housing, real estate and urban infrastructure expected to multiply manifold.

Goldman Sachs said: "The combined demand of Brazil, Russia, India and China (BRIC) will increase four-fold by 2010. The annual increase in gross domestic product (GDP) of BRIC countries will reach $ 521 billion by 2010 as compared with the G-6 countries annual increase of $ 471 billion.

It said India and China will become the dominant global suppliers of manufactured goods and services and Brazil and Russia will be the dominant suppliers of minerals and raw materials. Brazil and Russia would form logical commodity suppliers to China and India, and co-operation among the four countries would thus create a powerful economic bloc.
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