Mr. M R Venkatesh, noted speaker on Business concerns while speaking at the VHS National Convention, at Chennai, spoke on Indian Economy. He said, Growth of Indian Economy in short can be described as adding the growth equal to the GDP of Pakistan year after year. 30% GDP is the contribution from the domestic savings. 2% of GDP or 60Bn dollars is the FDI on average.
95 % of our investment is done by the domestic resources. Only 5% comes from outside.
Four pistons of Indian Economy :
1. Production leads to consumption;
2.Consumption enables savings;
3. Savings ensures the required investment;
4. Investment leads to the required Production.
This cycle is optimum for smooth functioning of the Indian Economy.
Economic policies are made to ensure the 4 pistons to function seamlessly.
A practicing Chartered Accountant since 1993 and All India rank holder, Shri Venkatesh is an expert who addresses the Business concerns relating to Economic Policies, International trade and Business strategies. He is also a commentator on International Trade and Economic Affairs. He has been campaigning on the issues of Black Money, Participatory Notes and Tax Havens for over several years.