The country of India is the most populous country in the world, with 1.21 billion inhabitants. Due to its size, the country is often viewed as a “subcontinent”, with vast landscapes that provide significant versatility. India is projected to grow to the 3rd largest economy by the year 2020.
The country hosts a number of valuable assets, including a tech savvy population, high education and skilled labor. Specifically, the manufacturing industry in India is continuing to evolve. It has begun targeting markets on a global scale, turning the country into a recognizable global competitor. Additionally, the Indian trade sector is particularly strong in its exports.
In India, the highest foreign direct investments come from IT, services, motor vehicle transport, electronics and energy. Within India, as a result of foreign investment, there has been controversy between the individual states about location for foreign companies. The domestic economy is so independent in retail and agriculture that foreign direct investments in these areas are largely blocked. However, a free trade agreement between India and the EU is envisioned.
Overall, India is experiencing significant economic growth. Even with the growing population, the country is experiencing an economic rise and has significant versatility. This occurs due to the rising domestic demand for capital goods, accompanied by a sustainable domestic economy. Although India is typically classified as an “emerging country”, the country is managing to grow in to a global economic power.
The textile industry is the second largest employment generating sector in India, employing more than 35 million people. The India textile industry shares 63% of the global textile market. The main textile produced is cotton (60%) and other import textiles are silk, jute, wool, and other man-made fibers.
Currently, India’s pharmaceutical industry falls 3rd in terms of volume and 13th in terms of value. The industry is primarily made up by small-medium, foreign companies, and is growing by approximately 10% each year.
India is the largest sourcing destination for the IT industry in the world. The industry employs roughly 10 million people and has led to the economic transformation of the country. Total spending on IT by banking and security firms in India is expected to grow 8.6 per cent year-on-year to reach the US$ 7.8 billion by 2017.
Interviews & Articles
India is known as an emerging and exciting place to conduct business...
India is known as an exciting and dynamic place to conduct business...
When joining a new market a lot of opportunities are to be considered.
Make in India is an initiative of the Government of India to encourage..
Invest India is a Joint Venture Company between the Government of India..
Norbert Hoisser, Hessisches Wirtschaftsministerium (Article in German)
At a celebration of the 65th Annual Republic Day of India, Mr. Raveesh Kumar...
Siddharth Bhimrajka Director of Impex Group (BIS) talks to Global Success Club about some...
Günter Wiskot from BLAFOC Forest Consulting GmbH advises medium-sized...