Annex 6.2 List of industries reserved for the public sector, India, 1997–98
Arms, ammunition, defence aircraft and warships.
Coal and lignite. Mineral oils.
Mining of iron ore, manganese ore, chrome ore, gypsum, sulphur, gold and diamonds.
Mining of copper, lead, zinc, tin, molybdenum and wolfram.
Minerals specified in the Schedule to the Atomic Energy Order, 1953.
India's middle and upper class is estimated at 15–20% of the total population, i.e. 150–190 million people.
India has the second largest pool of skilled scientific, technical and managerial manpower in the world after the United States.
Leading US business journal which, every August, publishes annual rankings of the world's 500 largest corporations.
Capital of the state of Andhra Pradesh in central India.
Remote services including back-office facilities and knowledge centres are considered domains where India intends to attain international leadership. The Economist, 'Indian Business – Spice up your Services', 16 January 1999, p. 61.
IITs offer integrated courses for engineers in all specializations: chemistry, mechanical, automotive, electrical, electronics, nuclear, construction, plastics, food, etc.
India counts about 6000 listed companies – 10 times more than China and 30 times the number listed on Russian or Mexican stock exchanges.
In Russia, too, regional authorities are understanding the importance of developing an effective retail system to supplement industrial modernization.
Nonresident Indians live mainly in North America, United Kingdom, Southeast Asia and Australia.
Growing at an average annual rate of about 2–2.3 per cent, India's population is expected to exceed that of China by 2020–25.
In 1998, licensing was limited to six sectors: defence equipment, atomic energy, coal and lignite, mineral oil, minerals, railway transport.
Similar to other emerging markets, India has become an important destination for portfolio investments.
For a description of the position of India's leading business families concerning FDI see also G. Piramal, Business Maharajas, New Delhi, 1996.
At that time, India's elite had been largely educated in Europe, especially the United Kingdom. Both Mahatma Gandhi and Jawaharlal Nehru appreciated