The domestic reforms were coupled with unprecedented growth in global GDP of about 3.5 per cent per annum during the first decade of the new millennium, against the long-term trend of 3 per cent, giving further impetus to India’s growth. It must be pointed out in no uncertain terms that large firms have already played a pivotal role in India’s growth performance so far, since they are common to both the structural growth indicators: Formalisation and export to GDP ratio.