5 factors to further promote business in India 1. Strong Economy: According to the estimates by the Ministry of Statistics and Programmed Implementation, the Indian economy has registered a growth of 7. 4 per cent in 2009-10, with 8. 6 per cent year-on-year (y-o-y) growth in its fourth quarter. The growth is driven by robust performance of the manufacturing sector on the back of government and consumer spending. GDP growth rate of 7. 4 per cent in 2009-10 has exceeded the government forecast of 7. 2 per cent for the full year. According to government data, the manufacturing sector witnessed a growth of 16. per cent in January-March 2010, from a year earlier. 2. B2B Indian Directory: B2B Indian Directory has been an effective medium for your business promotion in India because of an easy and inexpensive access to an incredibly powerful and all-encompassing medium like Internet. Never before in the history of human civilization so many people from so vastly different places and societies freely interacted with each other as we witness today in Internet. So, you can take advantage of this favorable business climate and easily become successful. 3. FDI Policy:
The Indian Government is committed in its efforts to maintain a healthy growth rate and provide a conducive policy environment to the enterprises, both public and private, to invest and grow their business in the country. To this end, the Government has liberalized the foreign investment regime substantially over the last decade. Today, foreign direct investment is allowed in almost all sectors barring a few sensitive areas such as defense. Further, FDI is allowed in most of the sectors under the automatic route, except a few, where approval from the Foreign Investment Promotion Board is required.
India’s foreign trade policy has been formulated with a view to invite and encourage FDI in India. The process of regulation and approval has been substantially liberalized. The Reserve Bank of India has prescribed the administrative and compliance aspects of FDI. 4. Sectoral Opportunities: The Indian growth story seems to be on a roll and India has emerged as the fourth largest economy in the world on a purchasing power parity basis. The quality of business environment in India has improved manifolds in the recent years .
The strong fundamentals underlying the Indian economy make it an obvious choice for investors all over the world. Vast investment potential exists in sectors such as biotechnology, retail, real estate, roads and highways, power, telecommunications, civil aviation, special economic zones, healthcare among others. These investments are encouraged by the facts that India has a large pool of skilled and competitive manpower, huge research and development base, Government support and conducive policies, growth in the Indian domestic market owing to higher disposable incomes, abundant natural resources required to set up industries, etc. . Wide Market: The factors to doing business successfully in India also include: finding good partners who have knowledge of the local market and procedural issues; good planning; aggressive due diligence and follow up; and patience and commitment. Options include using a subsidiary relationship, a joint venture with an Indian partner, or using a liaison, project, or branch office.