Pursuing Opportunity in India: A Challenge Worth Taking
By Vasudha Saxena
From the spice trade in the time of Marco Polo to the outsourcing of technical support in recent decades, Western companies have long sought their fortunes—and more recently, reduced operating costs—by pursuing business opportunities in India.
Today, those opportunities are even more compelling due to the convergence of economic and demographic trends along with improving structural factors:
- Young population
- Steadily expanding workforce
- Growing middle class
- Rapidly developing consumer base
- Improving regulatory environment
- Strong legal system
- Well-developed capital markets
- Long-established commercial, accounting and banking systems
Pursuing business opportunities in India has never come easily or without the guidance of local expertise. The reason: a legacy of bureaucracy that remains a source of frustration for those who are new to it. Yet this obstacle is neither insurmountable nor the sole challenge foreign companies in India face. High inflation, a volatile currency, weak infrastructure, the slow pace of economic, social and political reform and a substantial fiscal deficit add to the degree of difficulty.
As daunting as these challenges seem, many believe India possesses all the underpinnings of sustainable economic growth. With developments underway to address the business challenges, India offers a compelling opportunity for U.S. companies seeking global growth prospects—an opportunity that would make taking on its challenges worthwhile.
Read the full report (PDF) to learn more about pursuing opportunities in India.
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