BRIC Economies Slowing but will Still Remain Healthy

While there's no doubt every country in the world is being hurt by the economic crisis, BRIC countries will continue to grow, albeit at a significantly slower pace than in the recent past. The CIS states, as far as emerging markets go, will be hit the worst, according to the International Monetary Fund.

For BRIC countries, Russia's growth will drop to about 3.5 percent, a decline of 2.6 percent; Brazil will fall by close to 2 percent; and India will fall by over 3 percent in GDP. China will also plunge by about 3 percent, but will still grow at a healthy rate of over 8 percent in 2009.

One positive development that is helping the BRIC countries is a growing middle class, which has created domestic demand for products and services, which in turn is helping bolster their economies, even as their export markets dry up.

Microsoft Chairman Bill Gates Upbeat about Indian IT Companies

Even in the tough economic conditions, Microsoft (MSFT) chairman Bill Gates said in a seminar at IIT Delhi that Indian IT companies will be affected by the worldwide economic slowdown, but will still do well because of the good reputation of the industry in India.

“IT companies in India are great partners of Microsoft. They are investing in the long term and they have a pretty incredible reputation. They are always considered whenever a global project comes up,” he said.

Gates is in India as a representative of the Bill & Melinda Gates Foundation, specifically focusing on anti-polio efforts, along with other health issues.