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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	10/27/2003 7:39:09 AM
From: elmatador	Read Replies (1) of 74559

SIZZLING ECONOMY REVITALIZES INDIA By AMY WALDMAN (NYT) 1551 words Late Edition - Final , Section A , Page 1 , Column 2 ABSTRACT - Much of India is still mired in poverty, but there is budding prosperity in growing middle class; decade after Indian economy began shaking off its statist shackles and opened to outside world, there is surge in industry and agriculture, rising Indian and foreign investment and American-style consumer spending, particularly by people under age 25 who make up half the country's population; India now has second fastest growing economy in world; growth of past decade has put more money in pockets of expanding middle class, 250 million to 300 million people, and more choices in front of them; potential for even more market growth is enormous, fact recognized by multinationals and Indian companies alike; foreign institutional investors have poured nearly $5 billion into Indian market this year, six times last year's total; there is cautious sense in India that it could surpass China in growth, thanks to its entrepreneurial spirit, its strong higher education system and its democracy; photo; map (L)

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