If you’re considering the possibilities of taking your business to India, know that many have walked the path before you and succeeded. After India made the decision to liberalize it’s economy—enabling foreign influences to join the economy—in the early 1990s, countless numbers of businesses and investors from abroad have come to the country and most are very glad they did. And you can enjoy the same type of success if you know what you’re getting into and know what to do once you get there.
You may be wondering why so many foreign businesses have set their sights on India. Sure, the opening up of their economy is a nice development, but scores of countries throughout the world wouldn’t get much action from abroad at all if they threw open the gates for foreign industry and investment. So why has everyone rushed to India? The reasons include the following:
|✓||India has a population of more than one billion people. That’s one of the most important factors in India’s success. Plenty of people work in a huge variety of businesses, and an increasing number of people are able to spend money on products and services from foreign companies.|
|✓||Salaries in India are often much lower than elsewhere in the world, and the quality of the work done by Indians is good. Companies can hire Indians to do one or many different tasks, save a bundle, increase profitability, and not miss a beat in terms of quality.|
|✓||Natural resources are abundant in India. The raw materials ...|