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Today's Video

Posted on November 24, 2009

India's Economy Grows Despite Global Recession

Summary

With its large middle class and healthy stock market, India's booming economy continues to grow in spite of the global financial crisis that has crippled other world economies.

The stock market in the business capital, Mumbai, is up more than 80 percent in the past year. According to reporter Vikas Bajaj of The New York Times, India's separation from American and European markets saved it from the brewing crisis.

The number of middle class working people who can afford cars and computers is now around 300 million people -- the total population in the United States.

Though many middle class Indians enjoy a comfortable lifestyle, about 800 million people try to survive on less than $2 a day.

In this video report from India, NewsHour correspondent Fred de Sam Lazaro looks at India's record growth, the families that are benefiting, and the many people that are still left behind.

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