This COVID-19 has affected India and other countries in the worst ways. This is a challenging time for the entire world except for China. As a developing nation, there are big opportunities for opening a business in India with the highest pace growth and profits. From the year 1996-2016, India has experienced a growth of 7% each year. With the increase in investment and consumption, India has experienced a growth of 7.3% in GDP, which made India the fastest growing economy in the world. Also, the Indian economy stands 3rd after China and the US, and the day is not so far that it will soon beat the world economy players. This is why many of the foreign brands are looking for opening a company in India.
India’s long term economic growth prospects, which obviously are positive can be assessed easily from the given factors:
1. In the last 12 years below the age of 20 are 564 million, the growing middle class is 600 million, and the rates of savings have tripled in the past 12 years.
2. India’s growth mindset- competitive, Adaptability, entrepreneurial, earning, believes in learning and spending.
Now, what the economy needs to make things happen is political will and opportunities.
Certainly, India is a “Land of Opportunities”. Why?
• Because of the great challenging ground and solving those challenges LEDs to economic and business growth.
• A skilled workforce is available for businesses planning for opening a company in India.
• Geographically closer to the Middle East and Southeast Asia markets.
• English is the second most spoken language in the country.
And, then the ‘political will’ that’s important to create success is clearly shown by the existing government of India. The current PM Modi-led central government has come up with multiple initiatives that not only are the betterment of India’s economic structure but also making a better place for doing business. Hence, many big business brands are utilizing these opportunities for opening a business in India. Some of the recent initiatives started by the current government are Digital India, Make in India, Smart Cities, Skill India, and Start-up India. https://dbpl.asia/
The reason for India’s phenomenal growth is MNCs and their vast resources and the right connections. SMEs and Entrepreneurs are getting aware of the growth story of the nation and hence willing for opening business in India.
An easy analysis executed, taking the increased population in the account, the shrinking agricultural land, and the growing consumption signifies that there is a profitable market for the US companies in context with the technologies or products in the given below areas:
• Food & Beverages: food packaging, food processing, transport, food warehouse, and health drinks, etc.
• Home-based: kitchenware essentials, home decor products, bath, and bed, etc.
• Healthcare: medical equipment, diagnostics & testing, health supplements, water products, and clean air, etc.
• Education: ‘train the teacher’ programs, medical/nursing, medical technicians, automotive mechanics, advanced courses in genetics, and non-technologies field.
There are more similar business prospects teem in other sectors such as media & entertainment, financial investment services, homeland security, media & entertainment, etc.
Now, you know what all opportunities are open for you in India. You can connect with DBPL to get the opportunities for opening a business in India.