Oh to be an emerging market!
ACCORDING TO to the Hindu Times, India’s GDP growth will be around 8% this year. Why, you may ask, am I hitting you with this fact?
Well, since my last blog, I have been exploring the delights of India’s Coromandel coastline south of Chennai. Travelling there through Bangalore and Chennai itself, I could see the evidence all around of this impressive economic growth; the construction of new roads, high rise residential blocks, and shiny glass fronted car showrooms and offices is going on everywhere.
Quite a contrast to the UK, where we are labouring to just about keep our own GDP in positive territory.
The snow was behind the economic contraction in the last quarter of 2010 we are led to believe. Luckily then, more benign winter weather has been with us throughout Jan and Feb to help the economy return to the black.
Graydon has just completed a survey amongst its credit manager clients who report in the majority of cases that sales are up on Jan/Feb last year, so maybe it is all to do with the weather!! Even our construction industry may have got going again when the snow kept away.
That might help a little to get rid of some of my feelings of envy towards India!!!