India has emerged as one of the fastest growing economies in the world. Business magazines and newspapers routinely refer to India as an emerging global powerhouse along with Brazil, China, and Russia (commonly referred to as the BRIC economies). The Indian GDP has experienced a real growth of 8.9 percent from 2003-2007 and is projected to grow by 7.1 percent in 2009 and 7.5 percent in 2010. India's GDP was US$911 billion in 2007 (data obtained from Economist.com and EconomyWatch.com). The rapid economic growth rate can be attributed to the following three factors: 1) deregulation policies adopted by the Indian government in the early 1990s, 2) dynamics of globalization, and 3) ever advancing capabilities of the Internet and other forms of telecommunication. (Contains 7 tables and 1 figure.)