According to the latest feedback from financial analysts, economic growth in India is on the up. Things have not always run so smoothly for Asia's third largest economy. In recent times India has felt the effects of several negative aspects, notably a weak currency, rising inflation and a dip in the amount of foreign investment in the country.

However, figures indicate that there are signs that India's growth rate has been rising in the most recent quarter. During the period from July to September, the economy expanded at an annual rate of 4.8% - an increase of 0.4% from the April to June figure. These are positive messages, and India's economists are hoping this trend is set to continue because this marks the fourth consecutive quarter that the rate has been below 5%. Indeed, that 4.4% statistic from the previous quarter was India's lowest for four years.

The economic advisory council to the prime minister actually lowered the growth outlook for this financial year, such were the levels of pessimism about likely performance. Their earlier projection of 6.4% has now been reset to 5.3%.

The reasons for India's fluctuating economic fortunes are fairly complicated, but there have been several mitigating factors that have had a particular impact. Key sectors in India's economy such as manufacturing output and the mining industry, have experienced a slowdown in operations. This slowing down in growth has coincided with a period of sustained economic recovery in more developed markets, especially the USA. This has had the effect of making foreign investors less likely to see India as their first choice for business.

There has also been speculation that the USA may scale back its economic stimulus measure. The knock-on effect of this is that investors have been pulling money out of India. As a result, the rupee has dipped nearly 25% against the US dollar in the first nine months of this year. India's currency has recovered somewhat but is still down by 13% against the US dollar since January.

Indian finance minister P Chidambaram stated that a combination of high food and rising fuel prices had contributed to the current inflation levels becoming entrenched.

There has been good news for the Malaysian economy in recent times, with expansion being measured in the three-quarters since Prime Minister Najib Razak took the bold step of raising fuel prices last September. Despite warnings in certain quarters that this would be a gamble to take, exports have recovered. Domestic demand also remains at healthy levels.

According to a spokesperson from the Central Bank in Kuala Lumpur, the nation's gross domestic product rose by 5% last quarter from a year beforehand; this on top of a revised 4.4% in the second quarter. This amount exceeded every estimate bar three in a recent survey of financial analysts conducted by Bloomberg News, where economists were anticipating a figure of 4.7%.

After dropping during the first six months of 2013, Malaysia's export market has risen in the three months through September. One influence on this upturn has been the modest knock-on effect of the global recovery.

Bank Negara Malaysia has held its benchmark interest rate at 3% again to support growth in the economy, after predicting that domestic demand is likely to ease during a period of government restraints on public spending.

According to one economist at Singapore-based Nomura Holdings Inc., discussing the Malaysian situation: “We've seen some improvement in the export numbers and that's really a bigger drive of growth. External demand is not going to be that strong. Also, domestic demands seems to be slowing because of fiscal consolidation and the government policy to try and reduce investment spending.

Malaysia's currency climbed to its highest in almost three weeks, with the USA Federal Reserve Chairman nominee, Janet Yellen, indicating her organization would be pressing on with their unprecedented fiscal stimulus, with this trend set to continue until the recovery was seen to be robust. The currency appreciated by as much as 0.4% to 3.191 per US dollar at one point recently, making for the steepest rise since last October, according to data released by Bloomberg.

One of the most fundamental changes to the Thailand economy in recent years has been its re-categorization. Economically speaking, the World Bank upgraded the nation's income categorization from 'lower middle' income to 'upper middle', in 2011. There have been significant political challenges for the far eastern country, nevertheless the Thais have made significant progress in other areas, particularly social issues. But it is in managing its economy that Thailand has proved itself to be a vibrant, forward-looking country amongst the rapidly developing Asian world. It has enjoyed a long spell of sustained fiscal growth, coupled with impressive attempts to tackle poverty.

Even as long ago as the 10 years culminating in 1995, Thailand proved to be one of the world's swiftest growing economies, with an average annual growth rate of up to 9%. While the so-called Asian crisis of 1997-8 dealt a body blow to financial markets right across the Pacific rim, Thailand's economy was quick to rally and take off again. By the earlier part of this decade its growth had reached 5% again.

The inexorable progress of the Thai economy was tempered in 2009 for a number of reasons. Firstly, there was an overall dip in global finances – the crash that had repercussions throughout the developed world, and which are still being felt today in many quarters. Secondly, the same year saw much political uncertainty in the far eastern kingdom. Two years later the entire region was beset with devastating floods that caused millions of dollars worth of damage. However, the Thai people are nothing if not resilient, and by 2013 the economy has shown signs of having recovered strongly.

Growth is now occurring at a rate that is close to the levels that were experienced prior to 2009's global banking crisis. Despite political strife and disastrous weather, the GDP has bounced back from the 2012 figure of 6.4%, with economic analysts predicting continual blooming to nearer 5.0% during the current financial year.

One of the most pleasing side-effects of Thailand's prosperity has been that levels of poverty have fallen consistently since the late 1980's. In fact, during the last decade, poverty in Thailand has fallen from a 42.6% figure recorded in 2000 to around 13% in 2011. In Thailand, this is an issue which mainly blights rural communities, with nearly 90% of those affected living outside the main towns and cities.

(Original unmodified image source from Shubert Ciencia)

Much has been published about building successful businesses. A key factor is that planning is all-important. The economic world is riddled with businesses that have failed because they were launched without adequate provision being made for every eventuality. In the case of Asian businesses, there are certain other aspects that have to be taken into account.

The importance of planning cannot be overstressed. Prior to launching any business, it is imperative to be looking at a long-term view. Anyone seeing their business as a quick route to financial rewards is only setting themselves up for disappointment. The business plan itself should be broken down into logical milestones. For instance, you should try and project where you aim to be periodically, at least on a quarterly basis. These objectives can continue once your business is up and running and reviewed at regular intervals.

In Asia, business relationships are heavily reliant on building trust and respect. It is fair to say that actions speak much louder than words. When dealing with potential customers, politeness must be observed at all times.

Another valuable lesson to learn is that you cannot ever assume you have all the answers at your disposal. Always be prepared to listen and be responsive to other people's suggestions, even if they appear to be critical. Constructive criticism is an excellent tool for business enhancement.

With the advent of new technologies and the evolution in international travel, your markets will be global. Where many sectors of Asia and the western world were once separated by fairly divisive cultural issues, these divisions have become increasingly blurred. The clients you deal with may well be proficient in your own language. For your part, you should always be aware of the nuances of dealing with people from different nationalities. Behaviour that is accepted as the social norm in say, Korea, might not be the case in Singapore.

Another crucial aspect of business in Asia is the fact that there are so many different markets. While it is tempting to think of China as one major market, in actual fact it consists of several hundred separate and distinct markets. The same is true of Vietnam, Japan or indeed any other Asian trading nation.