The last couple of years have put India on the map of ascending developing countries. A lot of factors have contributed to this country’s intense development. In 2010-2011 the GDP in India increased by 9,3 percent. Although the following year the 6,2 % growth was less consistent one can’t help but notice the great economic potential of this country. Whether or not India will be able to maintain its growth in the future depends on internal as well as external elements. Today we will discuss a few matters that could influence the future of the country’s economy.
Outside financial resources
In order for a country to make such astonishing economy leaps in a time when the world’s greatest powers are barely maintaining a positive GDP, is a sign of good leadership. It is no wonder that under this conditions even the World Bank is supporting this country’s developments. The bank recently approved a $300 million loan in order to aid with the implementation of Third Tamil Nadu Urban Development project. According to recent studies the city population of India contributes greatly to the country’s development. Therefore if sustainable and effective infrastructure programs would be implemented, the economic growth would be even greater. Some of the goals of this project are: to further expands building programs, to find private financing for a sustainable urban infrastructure, to ensure investment opportunities in low income neighborhoods and to provide a successful model for other municipalities.
Kamal Nath is an important figure in the Indian political background. His involvement in various departments of the national economy have been vital to the economy development from the latest years. From the beginning on his political career he has not only promoted his ideas but he constantly fought in order to accomplish his goals. During his time as Minister of Environment and Forest he has manifested a strong desire to preserve the endangered species as well as to diminish pollution levels. Jumping from environmental issues to the textile industry was a challenging step. However as Minister of textiles he had a great contribution to the development of the textile industry in India.
Sustainable business solutions
Given the fact that India has been going through such intense economic growths one can’t help but wonder whether on not it will be able to maintain that growth without hurting the environment is still up for debate. However taking into account that sustainability methods are a part of India’s culture. The population’s respect for the environment has allowed them to find original sustainable solutions. Following the framework developed by the Global reporting Initiative, more and more companies in India are adopting a sustainable business style. In the present over 80 companies are practicing sustainable solutions which represent a growth of more than 50 percent than an year ago.