India, the Emerging Super Power

Ever since the Goldman Sachs report cited India as the upcoming super power in the late 90’s, there has been an enormous euphoria across the globe. The late 90’s have seen a kind of saturation in the markets of developed countries and the entire gamut of business class were looking for new areas to thrive their investments. India’s opening up of its economy in the 1991-1992 and the timely announcement made by the report have made India to be the prime destination for investments and growth. The beginning decade of the 21st century saw a surge in foreign investments and for the first time in 2003, India had surplus trade. There was lot of foreign capital that flowed into the economy. Thanks to the software exports that could pick up due to globalization.