Service Economy Keeps India Afloat

      This article is about India’s poor industrial growth. It discusses the Indian economy, and how poor performance and growth in this sector is dragging the whole country down. The article talks about India’s service workers and service jobs. It explains that India’s economy is being saved by the service industry. Their economy is expected to grow slightly within the next year, but not by much until after 2012-2013.  They are only expected to maintain, (much less grow,) if oil remains stable, and the world economy continues to stabilize. The article also explains that the country has been forced to deal with inflation, raised interest rates, etc. which has affected industry. The country has decided to invest in power, air transport, roads, etc. which is going to cost nearly $1 trillion dollars, and they have also stated that they need to be more innovated in the way they invest in industrial progress.

      This article is significant to understand the way global economy works, because it does a good job at illustrating how the world economy affects other countries, and vice versa. India is making some decisions that are important to India’s infrastructure, as well as suffering from a world economy that isn’t entirely stable at the moment.

http://india.blogs.nytimes.com/2012/03/16/service-economy-keeps-india-afloat/