Prepared by Nerella Campigotto in conjunction with our India Partner
By now many of you will be aware that doing business with the BRIC (Brazil, Russia, India, China) economies should be given serious consideration; but which country is your best option? That will obviously depend on a number of considerations, but there are many reasons why India may be your best bet. Here are some of them:
- India is an emerging power in the 21st century, and is forecast to become the 3rd largest economy in the world.
- India is a source of talent and innovation; about half of India?s 1.2 billion people are under the age of 25.
- India supports a vibrant, pluralistic democracy and insists on an open and free press, providing a reassuring environment for businesses, particularly if compared to some other emerging markets.
- The falling Indian Rupee has improved the attractiveness of overseas companies investing in India, and all types of investment are forecast to rise as restrictions relax.
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What sectors offer the best opportunities?
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Despite recent deceleration in GDP growth, India continues to be one of the fastest growing economies in the world.?India?s growing population, rising per capita income levels, rapidly expanding manufacturing and services sectors, and the associated infrastructure and natural resources requirements make it a tremendous market of opportunity.
In 2011, the IT industry had a market size of US$ 76 billion and is expected to grow by 19% during 2012-13.The mobile phone subscriber base is growing at rates of over 80%, while internet access continues to rise at a phenomenal rate with increasing deregulation, literacy levels, lower costs of PCs and an overall increase in consumer awareness. Analysts suggest that India's biotechnology sector, which grew 33% in 2011, is expected to reach US$ 10 billion revenue by 2015 from US$ 3 billion. Despite India?s large network of educational institutions, the increasing demand for quality education far surpasses the supply. An estimated 160,000 Indian students study abroad each year. The Indian pre-school market is set to become the largest in the world. In India, the pre-school segment is currently worth US$ 750 million and is expected to reach US$ 1 billion soon.
In order to sustain its economic growth, India is poised to increase its installed capacity five-fold within the next 20 years, offering short- and long-term opportunities in all areas of the power sector. The Government of India estimates that $500 billion will be spent in the infrastructure sector in the next decade, with the private sector playing an important role. The Indian real estate market size is expected to touch US$ 180 billion by 2020. ?Important opportunities exist for investors, as well as companies with international experience in project planning, engineering and implementation, feasibility and environmental impact studies and construction.
Opportunities in India?s agricultural sector encompass a broad range of sub-sectors including commodities, food and beverage processing and genetics. The Indian food industry is projected to reach US$ 300 billion by 2015.
While India offers tremendous potential, many businesses may not be prepared to tackle this venture alone. In our next article we will explore the challenges of doing business in India and we will offer some advice on how to enter this exciting market.
Source: http://www.boomerangconsulting.com/2012/09/doing-business-with-india-%E2%80%93-part-1-2/
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