India has one of the world's most promising economies. Its consumer-driven growth, favorable demographics, and productivity gains put it on track to overtake China's GDP growth rate by 2015. India is the second fastest growing Asian economy after China, and its economy is now equal to that of all other emerging Asian countries (excluding China) combined. In the coming years, India could comprise a third of the world's middle class, up from 5 percent today.
The relationship between India and the United States will become increasingly important in the years to come. The two countries will rely on each other for job creation and economic growth. And the booming growth of India's consumer class will create opportunity for American corporations. Not only will U.S. companies make the products the Indian middle class purchases, but India may also benefit from infrastructure technologies developed by U.S. firms.
KPMG's report, US India Business: Advancing the Bi-hemispheric Partnership, includes full details of the financial relationship between the two largest democracies in the world.