Nov 29 2010
India recently reported that second quarter growth was higher than originally thought, improving on growth during the same period in 2009 by 8.9%.
Q1 was also revised to have a 8.9% growth from 8.8%, securing India’s position as the second fastest growing economy in the world and reassuring predictions by Finance Minister Pranab Mukherjee that India could achieve GDP growth of between 8.5% and 8.75% in the March 2010-11 financial year.
Increased growth will continue to bolster the executive job market in India, with a particular emphasis on Manufacturing executive jobs after a 9.8% increase of manufacturing output and an 8.8% increase in construction compared to a year before. Agriculture is also a strong industry with farming output increasing 4.4%.
Despite the excellent growth results propelling India ahead, inflation remains a large concern, with prices raising in October by 9.7% as compared to last year – considering the large gaps in earning ability in India, much of the population will be hit very hard.
It remains to be seen if the Indian government will be able to control inflation as interest rates have already been adjusted six times this year without stemming the rising problem.
Find out more about the executive job market in India.
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