The entrepreneur is at the center of the Indian economy's phenomenal success, says Foreign Affairs Magazine. Despite the burden of indirect taxes, stringent labor laws, and a massive bureaucracy, Indian companies continue to thrive, with a booming stock market and modern financial sector. Over 100 Indian companies have a capitalization of more than a billion dollars, and some of these, such as Bharat Forge and Wipro Technologies, will probably be successful brands. Foreigners have jumped into India's stock market, investing in over 1,000 companies.
But there are still obstacles to continuing development: high public debt, a deterrent to infrastructure investment, an unwieldy, inefficient public sector, and lack of a broad-based industrial revolution that can generate the employment that goes along with growth.
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