Economic liberalization has paved way for rapid technological process for India, while globalization has given its young talent vast employment opportunities across the globe. India's self-confidence is improving with each global acquisition. As a result, India is slowly emerging as an economic superpower.

India is gaining strength in the global economy, as is evident by a robust progress in the merchandise as well services trade. Global capital has been pouring into the economy by way of portfolio, Foreign Direct Investment (FDI), American Depository Receipts (ADRs) and Global Depository Receipts (GDRs). The concept and philosophy of globalization is as old as the globe. In 2010, India will have one of the most youthful economies given the current demographic and investment trends. According to Planning Commission, for every 1% points growth in Gross Domestic Product (GDP), employment grows by 0.16% points. The rapidly expanding service sector is emerging as a major contributor to the economic growth. India will be able to make its presence felt in the global Knowledge Process Outsourcing (KPO) industry by the year 2010, as the country is already taking steps to expand its KPO business.

Economists world over believe that most of growth will be in Asia, especially in China and India, driving Asia to displace the West over the next 15 years, as global economic dynamism. The impact of that shift will be economic and political, pulling Washington's attention away from Europe and the Middle East and towards the emerging 21st century superpowers. The estimated size of the Indian economy is about $750 bn and with external engagement reaching a figure of $500 bn, it would amount to over 66% of the GDP in 2006-07.

MBA Review Magazine, Economic Liberalization, Globalization, Global Acquisition, Global Economy, Global Depository Receipts, GDRs, American Depository Receipts, Foreign Direct Investment, FDI, Knowledge Process Outsourcing, KPO, Gross Domestic Product, GDP, Global GDP, Special Economic Zones, SEZs, International Monetary Fund, IMF, Foreign Exchange Services, Central Statistical Organisation, CSO, Indian Economy.