The defeats are a jolt to a full-strength Pakistan side in their preparations for the Twenty20 World Cup
The Minister further added: "In Purchasing Power Parity terms, we are in fact, the third largest economy already, only next to China and the US."
This month, however, India slipped one spot in the ranking of largest economies in the world, to become the 7th largest, according to a World Bank report. But that does not impact the long-term attractiveness of India as a great investment destination.
Economic fundamentals that include fiscal parameters like the current account deficit and fiscal deficit are under control. This is backed by Government of India's commitment to deliver reforms that stimulate economic growth.
For investors, the benefits of investing in India are plenty. India has a young and growing middle-class population with increased spending power, healthy savings and investment rates, and increasing integration into the global economy.
Businesses could also benefit from possible capital gains exemptions, tax holidays for setting up business in Special Economic Zones (SEZs) and specified backward areas, tailored incentives to manufacturing concerns, such as enhanced deduction for R&D activities, accelerated depreciation, safe harbour provisions, to name a few.
Amongst emerging economies India's stock markets are the most promising, even most of the global brokerage houses are positive on India's growth considering strong fundamentals like valuations, credit growth and revenue growth suggesting signs of acceleration in the country.
Thanks to these factors and further helped by the increase in spending on infrastructure, and reforms in the fiscal and monetary policy space, India is expected to continue being the fastest growing economy.
HDFC Bank, a leader in banking, is offering various avenues for non-resident Indians as well as foreign investors to invest in India. The bank, with its extensive network in India and presence in overseas locations at Dubai, Bahrain, Abu Dhabi, Kenya and Hong Kong, can cater to the varied needs of investors based outside the country as well.
The bank offers a wide range of digital offerings enabling transactions, including remittance on the go. Its offers services like private banking, where an advisor regularly helps investors structure their portfolio and meeting their financial objectives.
This is done through NRE Fixed Deposits, NRE Recurring deposits, and life insurance policies, which help make the right kind of investments - be it for immediate or for future financial needs.
It also includes avenues such as deposits, investments in mutual funds, and trading on recognised Indian stock exchanges. Thus, investors can benefit from investing in India through HDFC Bank's extensive range of products and services.
The defeats are a jolt to a full-strength Pakistan side in their preparations for the Twenty20 World Cup
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