Growth Story

India's influence on the world economy will be bigger and quicker than what was implied earlier, Goldman Sachs has reported.
Arguing that the country's high growth rate since 2003 represents a structural increase (rather than simply a cyclical upturn), the financial powerhouse has projected India's "potential or sustainable growth rate.

Here are some highlights from the report:
* India has 10 of the 30 fastest-growing urban areas in the world. Based on current trends, a massive 700 million people (roughly equivalent to the current population of Europe) will move to cities by 2050. This will have significant implications for demand for urban infrastructure, real estate, and services.

* Today, India is the fastest growing market for mobile phones, with average growth rates of over 80 per cent every year since 2000. e" at about 8 per cent until 2020.