With the Liberalization of the Indian economy in 1991
the prospects of doing business in India are on the rise. India has now
turned into a global market and if planning to do business in India it
would be prudent to see what are the options available to an
International company to invest in India. India undoubtedly underwent a
sea change with the onset of a free economy. Its outlook towards global
collaboration, disinvestment and foreign investment is completely
transformed for a positive surge. In fact many Industrialists of Indian
origin are leading the race in global mergers and acquisitions. The IT
revolution has not left India untouched and the country is surging ahead
on an unmatchable pace in Software and Internet services.
With the change in Government in 1999, the Indian economy is leading the
way towards a higher economic path. The Indian economy did a policy
revival during this phase which is being continued by the present
government as well. India is committed to implement economic reforms,
encourage investment and technology flows, and actively promote and
facilitate greater private sector participation in all sectors of the
economy.
India with its rich human and industrial resource is the fourth largest
economy in the world, and has the second largest GDP among developing
countries, based on purchasing power parity. Economic indicators reveal
that India has a steadily growing economy. India happens to be the
world's largest democracy, with a long established and robust
democratic, federal system. India can boast of a long established legal
and accounting system, an independent judiciary, a free and alert press,
and a sturdy tradition of entrepreneurship. India has a large consumer
market, and a growing middle class with substantial purchasing power.
The use of English is widespread in business and commerce which removes
all barriers of communication and dealings. India has an immensely rich
human resource which includes scientists, technicians, engineers,
managers and skilled personnel who are counted among the best in the
world. India's enormous pool of knowledge workers has attracted many
global companies to do business in the country. In the field of
bio-technology India has taken huge leaps.
As India surges ahead with its economic reforms, prospects wait to be
exploited in sectors like insurance and financial services, energy,
telecommunications, manufacturing, transportations, urban development,
and other areas of infrastructural development. Measures are being
simplified and reorganized to facilitate business. Indian Embassies and
Consulates across the globe are at your service to aid you to do
business with India. The business opportunities are eagerly waiting for
your own growth as well as India's development.
