Business investment is picking up especially in emerging market economies including India, notwithstanding a bleak economic outlook.
According to the Grant Thornton International Business Report (IBR), 45 per cent of businesses in the BRIC countries plan to increase investment in research and development over the next year.
India’s capital city Delhi has been named the most competitive in the country, with commercial hub Mumbai trailing at number two. According to the Institute for Competitiveness (IFC), the city has managed to demonstrate phenomenal growth over time. The two areas New Delhi is found lagging in are administrative and institutional support.
Mumbai-based billionaire Mukesh Ambani led Reliance Industries Limited (RIL) has become the first Indian private firm to join the elite Fortune 100 list. RIL rose to 99th position from last year’s 134th, with revenues of $76,119 million.