The Indian economy is experiencing significant improvement after a turbulent period in 1998-99. GDP growth is estimated at 5.7% for 1999-2000 and forecast to reach 6.3% next year. Inflation is rising due to higher fuel prices but is expected to stabilize at 6.5%. Industrial growth is strong at around 8% and the corporate sector is reporting brisk revenue and profit growth. The near term outlook assumes normal monsoon and continued growth of around 6% led by strong consumer demand. Infrastructure investment is needed to boost growth to over 8% annually.