The current scenario for 'International Business in India' is more than heartening. With stupendous growth of more than 7% annually, improvement and stabilization of relations with neighboring countries and record setting rise of its stock indexes, India continues to grab international attention. It is destination of opportunity with its high-potential workforce and burgeoning middle class and as an increasingly dynamic competitor.
India being a multi-cultural, multi-lingual and multi-religion state, it is not advisable to formulate a uniform business strategy. The eastern part of the country is known as the 'land of the intellectuals' and is regarded as the cultural hub of the country. The southern part is known for its technology acumen and western part is the commercial-capital of the country. The north is where the political power sits and operates the country. ' International Business Opportunity in India ' exists in ares like -
* Information Technology and Electronics Hardware.
* Pharmaceuticals and Biotechnology.
* Banking, Financial Institutions and Insurance & Pensions.
* Capital Market.
* Chemicals and Hydrocarbons.
* Agriculture and Food Processing.
* Power and Non-conventional Energy.
Sectors like Health, Education, Housing, Resource Conservation & Management Group, Water Resources, Environment, Rural Development, Small and Medium Enterprises (SME) and Urban Development are untapped and offers huge scope. With highest numbers of technical, medical, business management graduates and highest numbers of Phd.s coupled with an energetic English speaking mass India offers 'services' with 50-70% less cost from their western counterparts.
For 'International Business in India' b odies like CII, FICCI and different Chambers of Commerce provides a variety of business facilitation services by -
* Closely working with Government and business promotion organizations in India and the respective partner countries.
* Also hosts high-level Government dignitaries and help build close working relationships between Governments and business organizations.
* It also exchanges business delegations, joint task forces and identify bilateral business co-operation potential and make suitable policy recommendations to Governments.
With opportunities galore for ' International Business in India' the trend is mind boggling. ' India International Business' community along with Indian Domestic Business community is steadily emerging as the Knowledge Capital of the world. The World Bank and different rating organizations have forecast that at 7-8% of Economic growth, she will be worlds second largest economy by 2050.