As the world's fastest growing free-market democracy, India offers profitable business opportunities for all types of companies. Most of India's progress thus far can be attributed to private enterprises such as software, IT, and pharmaceutical companies. Services are a major source of economic growth, and account for half of India's total output. In the last decade, India's economy has posted an average growth rate of 7%, and poverty has been reduced by about 10 percentage points.
Although India is not the only eastern country experiencing growth, many experts believe that India's business model is superior compared to China's. India's development model primarily involves private entrepreneurs, whereas China's model is based heavily on government-owned enterprises. There are advantages and difficulties associated with both models, but it seems that India's model makes it easier to compete in the global market.
Learn more about India on globalEDGE Country Insights.
This month's poll question is:
"When will India exceed China's impressive economic success?"
Please view our homepage to vote on this month's poll question.
The Bangalore Boomerang
The Guardian (September 11, 2006)
http://business.guardian.co.uk/comment/story/0,,1869835,00.html
The Indian economic greenhorn received few praises in the early 90s for encouraging an exodus of its home talent. Fast-forward to present; as western economy slows and India's economy grows, Indians are flocking back, with foreign investments in tow. While the Asian nation remains an economic minnow, its unprecedented growth and opportunity pool is making the First World green with envy- a testament to traditional Indian shrewdness.
'IT Will Generate 10 mn Jobs by 2010 in India'
The Financial Express (September 7, 2006)
http://www.financialexpress.com/latest_full_story.php?content_id=139703
The job markets for IT and BPO are set to hit boiling points in the near future. Nandan Nilekani, CEO of Infosys, predicts the creation of 10 million jobs in the industry by 2010. He also cited the relatively young Indian population and improved software development as signs for international businesses to open more markets in the country.
EU puts focus on Asia Trade
International Herald Tribune (September 5, 2006)
http://www.iht.com/articles/2006/09/05/business/hot.php
The European Union (EU) is setting its sights on opportunity-rich Asia, in a bid to expand its trading channels. Nevertheless, Peter Mandelson, trade chief for the EU, also made it a point to stress the body's commitment to the languid Doha trade talks; any other agreements will only have a "valued-added" effect.
View more News on globalEDGE.
Why India Will Overtake China
Money (August 31, 2006)
http://money.cnn.com/2006/08/30/magazines/fortune/IndiavsChina_pluggedin.fortune/index.htm
For all its lauded, explosive growth, China's economic success might not be all it's cut out to be. Behind the Chinese shadow of shady bureaucracy and political repression lies a challenger waiting to pounce - India. Armed with confidence, freedom and cultural reforms, this emerging economic giant is anticipated to tame the Asian tiger. More than that, India is expected to surpass the already outstanding Chinese economic success.
View more In Depth Look articles on globalEDGE.
A sample of some of our recently added sites:
IRMI: International Risk Management Institute
http://www.irmi.com/
The IRMI contains a broad scope of resources related to minimizing the risks associated with doing business. Along with access to seminars and expert commentary, a newsletter is provided to those who wish to sign up for a free subscription. The site is updated frequently to keep on the leading edge of the industry.
Category: IB Topics: Security and Risk Management
India: The National Portal of India
http://www.india.gov.in
Hosted by the National Informatics Centre (NIC), this website is the official portal of the Indian Government. The goal of this portal is to provide information about India itself as well as the Indian government and the services it provides. There is information available about economic sectors, government, culture, citizenry, business, press, and living in and travel to India. Updated daily.
Category: Research: Government Resources
Country: India
Region: Asia & Middle East
Suite101.com: International Trade
http://internationaltrade.suite101.com/articles.cfm
From world oil trade to wine opportunities in China to international trademark rulings, this site presents unique insights on International Trade deals, trends and news. By perusing these articles, visitors will gain a global perspective that comes from a focus on international trade. Investment tips are articulated where appropriate.
Category: Other Resources: International
View more recently added sites on globalEDGE.
U.S. Department of Commerce's International Trade Administration Business Development Mission to India
http://www.export.gov/indiamission/
The U.S. Department of Commerce offers an exciting business opportunity for all U.S. based companies to join them on their International Trade Administration Business Development Mission to India. Companies will have the opportunity to attend the Mumbai Business Summit, and then continue with one of the six "spin-off missions" focusing on Bangalore, Kolkata, Chennai, Hyderabad, Mumbai, or New Delhi. The U.S. Commercial Service will also arrange meetings, business appointments, and networking opportunities with prospective agents, distributors, and partners for each U.S. company that attends.
View more Academy Resources on globalEDGE.
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