India had been growing around 8-9 per cent before the global financial meltdown of 2008. The growth rate in 2011-12 slipped to 9-year low of 6.5 per cent. The Economic Times wroted that
Goldman Sachs Asset Management Chairman Jim O’Neill said: “India in many ways remains the most complex of the four (BRIC nations), with its demographics giving it the best potential GDP growth rate, but its inability to introduce effective policy change is a persistent source of disappointment”.

• Accuracy of UK GDP data ‘worse than China’, says Jim O’Neill
• BRICS’ growth trajectory remains steady
• India’s rating outlook stable, says Moody’s
• BRIC countries likely to grow at 6.9 pct in 2013: Jim O’Neill