The ascendency of India as an economic world power

Whether you love or hate the US, the reality is that America is still the richest country in the world and any change in its economy influences the whole world. So, when I saw the news titled Consumer confidence at 5-year low in CNN, I started to think about its impact in Indian economy. Well, USA is perhaps the largest and most important trading partner for India. The IT industry in India largely depends on the market demand of the US. India also exports textile, engineering and some other products to the US market.

So, any US economic slowdown means bad news for Indian traders. They will have to find alternative markets. The workers and entrepreneurs in the Indian IT industry may also get worried as they may get fewer projects from the US.

What is your idea about it?