According to DI’s latest economic forecast, India’s economy will grow by 8.2 percent in 2010 and 8.4 percent in 2011. This means that India is through the recession much faster and more easily than the countries in the western world.
Already this year, economic growth in India has returned to the pre-2008 level when the crisis began. In the first quarter of 2010, the economy increased by 8.6 percent compared with the same period last year.
“It is remarkable how fast and relatively painlessly India got through the international recession,” says DI Senior Consultant Ole Christensen, who is responsible for DI’s market activities in India.
When the crisis was at its peak, India clocked a growth at about 6 percent while the western countries recorded a direct drop in their economy.
“There is a substantial potential for Danish companies in the Indian market,” says Ole Christensen.
Danish exports to India have grown, but at a very low level. The same applies to Danish investment in India.