Essay Title: 

Doing Business with Indians

April 3, 2016 | Author: | Posted in marketing, mathematics and economics

Doing Business with Indians

Over the years , India has evolved as a major destination for global investors for its huge market and a knowledgeable workforce . Indian economy has boomed and the growth continues . The fundamentals of the economy are strong and marked with stability . Led by a tremendous growth in IT industry , it is fast becoming a knowledge hub for the world . With one of the largest pool of professionals for all spheres of the business , the country is all set to play a key role in the global economy in the [banner_entry_middle]

coming years . For multinational companies , Indian market presents a great business opportunity . A population base of over one billion and a burgeoning middle class with disposable income make a strong case for India to be on the priority list of the companies while drafting their business strategies

India ‘s ranking has also gone up by two places in the World Economic Forum ‘s Global Competitive Index (GCI ) rankings for 2006-07 , placed at 43rd , well ahead of the other BRIC countries (Brazil – 66 , China -54 and Russia-62

In recent years , the business environment has improved substantially in India . According to a survey report from Dun Bradstreet in October 2006 , the business optimism index for the quarter ending December ‘ 06 marked an increase of 14 to 177 .1 as compared to 155 .3 for the quarter July-Sept ’06 . According to another survey conducted by Ernst Young India is ranked as the fourth most-attractive country for investment and the location for call center and back office activities

Fitch Ratings has improved India ‘s Long-term foreign and local currency Issuer Default Ratings to Stable Outlooks . India ‘s Short-term foreign currency IDR has also been upgraded to ‘F3 ‘ from ‘B ‘ and the Country Ceiling has been raised to ‘BBB- (BBB minus ) from ‘BB . According to Paul Rawkins , Senior Director at Fitch “This upgrade reflects Fitch ‘s view that fiscal consolidation is at last taking hold in India reinforced by the impressive growth story and India ‘s strong external balance sheet . Public finances are still weak , but they are no longer an insuperable constraint on this rating

In spite of a global economic slowdown , Indian economy has sustained its impressive growth rate of over 7 and has maintained its position as one of the few bright spots from business perspective globally . The development oriented government and a stable political environment of India have further created an investor friendly climate with an objective to make India an economic powerhouse . A large English speaking population is one of the major advantages India enjoys over other countries , thus making it a favorable destination

In view of India ‘s role played in the global economy and its pool of manpower provided to the multinational enterprises , it is important to understand the Indian culture and management in to be successful here in business along with a sound knowledge of political and economic landscape of the country

India- an overview

Geographically , India is seventh largest country in the… [banner_entry_footer]

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