An interesting article in the Shanghai Daily notes that India is projected to grow 8% over the next year.  The article notes that despite the projected growth rate, Indian unemployment is still a concern.

What I thought was interesting is that the economic report suggests that India needs to adopt more flexible laws, like they have in China.  I think the irony is that communist China has more flexible labor laws than does democratic India.  Of course, India is still in the process of throwing off the old vestiges of socialism, but I can tell you first hand that China has indeed moved quickly to adopt Western business practices. 

It will be interesting to see if India does implement more flexible labor laws, in additon to improving it's basic infrastructure.  India needs to do so, because in the race to the top, China is well on its way.