The ascendency of India as an economic world power

Indian economy is growing fast and naturally, profit for companies doing business is growing fast. Standard Chartered Bank is perhaps a very good example in this regard. The bank has a strong presence in India and in 2007, Standard Chartered Bank had impressive growth in income and profit from the Indian market.

In fact, India has become the second most important market for Standard Chartered Bank. This clearly shows that India is becoming a very attractive market for the foreign banks. Until now, Indian banks did not have to experience any notable competition from foreign banks. However, Indian banking sector is going to be opened totally very soon and many foreign banks will enter the Indian market in near future.

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