Industry & Economy
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Economy
Sweet `n' sour
The Commerce and Industry Minister, Kamal Nath, may have successfully sold the story to media about the good tidings in the economy with manufacturing notching double digit growth, FDI inflows at a record and GDP expected to top eight per cent plus. But punching holes in this `feel good' atmosphere is an India risk analysis, lined up for an upcoming event in the capital. Apparently, there are six major risk factors that could sour the Indian story and topping the list is the loss of fresh water in the country. Other issues that could impact the economy are oil peaks, demographics (meaning population growth), globalisation backlash, environment and health.
The foreign think-tanks feel that with these and other threats to India's prosperity, even the current growth trends are far from given. There is also a point about the unevenness of foreign investment flows into India.
While multinationals have flocked to the country, small and medium enterprises from across the world have not bitten the bait as they feel that Indian markets are unattractive and the drawback of weak infrastructure far outweighs the advantage of low labour costs.
Kamal Nath will get to hear more on this when he attends the event next week.
Our Delhi Bureau
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