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sector has not kept pace with the needs of its fast expanding economy. According to figures from the Ministry of Power, India’s energy consumption per head – 631 kWh /pa in 2008 – is expected to reach up to 1000 kWh /pa by 2012. If it is to meet these increasing needs, India needs to largely increase its current installed capacity.

In terms of wind power, India currently has an installed capacity of around 12 GW, according to Ministry of New and Renewable Energy figures as on 30th June 2010.

INDIAN ECONOMY AND GLOBAL TRADE RELATIONS

India's economy basically depends on its huge internal market and the external trade contributes only 20% of the country's GDP. India's annual imports were US$236 and exports stood at US$155.5 billion in March 2008. India is a founding-member of General Agreement on Tariffs and Trade (GATT) since 1947 and WTO. India has opposed the enclosure of labor and environment issues and other non-tariff barriers into the WTO policies. India was isolated from the world markets to protect its economy and to relay on itself in 1991. India's foremost trading partners are the EU, the US, China, the UAE, the UK, and Japan. India has positioned itself as one of the front-runners of the rapidly growing Asia Pacific Region.

INDIAN ECONOMY AND FOREIGN DIRECT INVESTMENT

Foreign Direct Investment (FDI) is defined as 'investment made to acquire lasting interest in enterprises operating outside of the economy of the investor.'

India, post liberalization, has not only opened its doors to foreign investors but also made investing easier for them by implementing the following measures:

Foreign exchange controls have been eased on the account of trade.

Companies can raise funds from abroad securities markets and now have significant liberty to invest abroad for increasing worldwide operations.

Overseas investors can remit earnings from Indian operations.

Foreign trade is principally free from rules, and tariff levels have come down sharply in the last two years.

While most Foreign Investments in India (up to 51 %) are allowed in most industries, foreign equity up to 100 % is encouraged in export-oriented units, depending on the merit of the proposal. In certain specified industries reserved for the small scale sector, foreign equity up to 24 % is being permitted now.

As the industry progresses, opportunities abound in India are attracting foreign investors by assuring them good profits. The scope for foreign investment in India is infinite. India offers to foreign investors a well fair package of economic incentives for exports and industrial investments. Moreover, the support of the ordinary man regarding FDI is clearly from the sharp heights in India's gross expenditure in the past few years. Thus the Indian economy is proving itself highly beneficial to Foreign Investment.

INDIAN ECONOMY AND EDUCATION

India has made huge growth in terms of rising primary education attendance rate and growing literacy to roughly two thirds of the population. The right to education at basic level has been made one of the essential rights under the eighty-sixth Amendment of 2002, and legislation has been enacted to further the aim of providing free education to all children. However,