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 Money Matters

India’s Economic
Hotspots:
India’s real
growth story
India’s emergence as an economic
powerhouse is based on the socio-
economic reforms channelized by
India’s emerging hotspots.

By Prajakta Ambre

February 2011
 Money Matters India’s Real G

Mumbai

I
ndia has come a long way since 1999, the
year of major socio-economic reforms. Besides
being branded as the most culturally diverse
country on the global front, India is also known
as the next powerful economy after the USA.
The economic developments of 1999 that helped
reforming the core socio-economic structure of
India have contributed significantly to the financial
makeover of the county.

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Growth Story page 65

India embodies an interesting mix of various

metropolitan cities, which are emerging as new
economic hotspots of India and will change the face
of India’s progress card very soon. Not to forget that
these economic hotspots are also the potential real
estate markets and they will mark robust growth with
the advent of the infrastructural improvements that
have started picking up.
Along with hot Tier I real estate destinations like

February 2011
 Money Matters India’s Real G

Mumbai, Delhi, Bengaluru, Pune and Hyderabad, Tier

II and Tier III cities in the North, South, West and
East regions of the country, which are located
at Madhya Pradesh, Punjab, Rajasthan, Uttar
Pradesh and Haryana will play a crucial
role in India’s augmentation.

A quick glance at the real

estate boom in India
Real estate is one of the
booming sectors in
India. We have seen
many ambitious,
infrastructure-
oriented
projects
coming up

Real estate
is a booming
sector in India

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Growth Story page 67

For investment opportunities in

the world, India stands tall amid
other potential countries
Prajakta Ambre, Associate Editor

in India, which are directly associated with India’s

expansion plans. Residential and commercial projects
taking shape in India’s Tier II and Tier III cities signify
nothing than colligated growth. Upcoming SEZs
and infrastructure development plants put up by the
overseas companies will not only attract foreign direct
investment but also more jobs.
When we spoke to Gaurav Sharma, Advisor from
one of the rapidly growing broking firms in India
about the future of India’ real estate market, he said,
“It is true that the property prices are skyrocketing
in major cities of India. However, in order to be

February 2011
 Money Matters India’s Real G

The Green Revolution effect has introduced prosperity to India

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Growth Story page 69

on the path of progress, we need to understand

the hidden benefits attached to the continuous
development of real estate properties.”

GDP Growth: India’s most dependable trump

card
Rate of India’s GDP growth (Gross Domestic Product)
has been phenomenal. According to a survey
conducted in 2009, the GDP growth rate for 2009-10
was 6.5% and the latest forecast mentions that India
would be growing at the rate of 8.7% in 2011.
Hence, the optimism in the domestic financial
circuit of India is for the reason that India’s GDP
growth is likely to aggregate.

NSEW Growth avenues

North India
The northern part of India has seen rapid growth,
which has ranged above 8% per annum. The Green
Revolution effect (Harit Pradesh Movement) has

February 2011
 Money Matters India’s Real G

induced prosperity to states like

Uttarakhand, Himachal Pradesh,
Punjab, Uttar Pradesh (western zone),
Haryana and union territories of
Delhi and Chandigarh, except Bihar,
however.
Gurgaon and Noida have registered
maximum growth (137%) in 2009-10,
while regions like Ghaziabad,
Faridabad and Kundli have been
favorable, especially for the growth
pertaining to the real estate business.

East India
Growth patterns in East India revolve
around the output generated in semi-rural areas
like Kharagpur of West Bengal, Orissa, Jharkhand,
Assam and north-eastern states like Sikkim,
Darjeeling, Manipur, etc. A paradigm shift in the
growth models of these states was seen in after

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Growth Story page 71

2005 when peculiar efforts from the administration

were made to channelize growth.

South India
The geographical spread in South India is huge and

February 2011
 Money Matters India’s Real G

since the economy is largely agrarian, south Indian

states are considered as promising lands where
cultivation of spices and key crops like
rice, ragi and sorghum fetch
tremendous profits.

West India
West Indian states like
Maharashtra, Gujarat,

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Growth Story page 73

Goa, etc create 20.34% of the national GDP of the

country with an annual growth rate of 14.5%. These
states have the strongest economical prospects that
drive the growth of the national economy.

The road ahead

When it comes to looking for investment
opportunities in the world, India stands tall amid
other potential countries simply because it offers
excellent resources required to achieve intensified
growth. It is said that the frontier markets of
today become the blooming powerhouses
of tomorrow, which clearly means
that India is definitely on the
right track.
brin

February 2011