Software and BPO services aren't the only areas where Indian companies are competitive on a global scale. Private equity investors have realized this early and voted with their cheque books in favor of pharmaceuticals, textiles and even steel companies in 2004. How come? "Indian manufacturers in these industries are getting coupled into global supply chains. It can only mean more global trade in the coming years," writes Businessworld's economics editor, Niranjan Rajadhyaksha. More factoids from the article: India's total foreign trade this year will be about 32 per cent of its total GDP. It means that about a third of our national economy is now linked to the rest of the world... ..Exports today account for about 15 per cent of India's GDP. So a 25 per cent rise in exports adds about 4 per cent to India's GDP growth rate. Or to put it another way, over half of economic growth this year will be accounted for by foreign demand.