Prime Minister Dr Manmohan Singh was back from the G-20 summit held at London recently with a smile. The outcome has been satisfactory, he said. President Obama, in his meeting with the PM, had credited Dr Singh with India’s growing financial stature in the world economy. Obama described the PM as a "wise and marvellous" man at an individual conference. President Obama even hailed India's "high stature" because it had "unleashed economic forces" and said a lot of it had to do with "the wisdom of Dr Singh".
Dr Singh’s efforts along with the other leaders at improving the economic climate seem to be paying off. According to Dr Singh, India too had provided a fiscal stimulus of about four percent of its GDP ie., approx. Rs 1,20,000 crore in 2008-09. This will help the country's growth rate to reach a little less than seven per cent, comparatively higher than most other economies. "We hope to be able to achieve a similar growth rate in 2009-10, with continuing reliance on monetary and fiscal policy. Active contra-cyclical policy must be a priority item on our agenda and global markets are looking to see if we are united on this issue," he said.
The agenda at the summit concluded with pumping of US$ 1.1 trillion into International Monetary Fund for providing stimulus for the revival of world business, removal of protectionist measures raids on tax havens and strengthening the global financial system through supervision.
Dr Singh reaffirmed India’s commitment to the said agenda and promised that more free trade agreements would be arrived at with countries. This would facilitate setting up of businesses in India and thereby improve the foreign direct investment flows. Recent industry research by IDC too reveals the growing optimism of Indian Chief Information Officers (CIOs) on bucking the economic slowdown and rejuvenating the economy earlier than anticipated.
Wednesday, April 8, 2009
Monday, June 2, 2008
Business Opportunities in India: 5 Key Sectors .
It’s official! India is happening. With an economy growing at the rate of 9 per cent, business opportunities in India are increasing more than ever before. So much, so that Investors around the world are making a beeline for doing business in India. The FDI Confidence Index 2007 by A T Kearney shows India as second most attractive destinations for foreign direct investment.
Obviously, opening up of the market in the beginning of the nineties is paying dividends. Higher income generated at the bottom of the pyramid has fuelled the high octane growth of business opportunities in India across all sectors.
Lion’s share of the business opportunities in India exists in the knowledge intensive industries like, Information Technology. Its enormous talent pool available at a reasonably low cost helps India to edge out the competition. According to a NASSCOM-Deloitte study, this sector has contributed 5.2 per cent of India’s GDP in 2007.
Some other sectors that offer maximum business opportunities in India are:
Telecom: Five leading telecom companies in the world have already invested large amounts to cash in the business opportunities in India’s telecom market. The sheer population of India reflects the growth potential of the segment.
Oil and Gas: With a 25-50 per cent lower capital cost alongside the strategic location on the route of Middle East crude for East Asian and Pacific-rim markets India is fast emerging as the global hub for oil refining.
Infrastructure: Growing at a rate of 8.6 per cent (2006-7), this segment offers tremendous business opportunities in India.
Retail: India tops the AT Kearney's annual Global Retail Development Index (GRDI) for the third consecutive year, maintaining its position as the most attractive market for retail investment.
Apart from the above, huge business opportunities in India lie the sectors like, financial services, healthcare and real estate.
In the post reforms period, setting up a business in India, is not a worry at all. The elimination of license raj has been able to cut off bureaucratic red tape to much extent. The liberal regime has shaped up an investor friendly economic climate over the years.
Obviously, opening up of the market in the beginning of the nineties is paying dividends. Higher income generated at the bottom of the pyramid has fuelled the high octane growth of business opportunities in India across all sectors.
Lion’s share of the business opportunities in India exists in the knowledge intensive industries like, Information Technology. Its enormous talent pool available at a reasonably low cost helps India to edge out the competition. According to a NASSCOM-Deloitte study, this sector has contributed 5.2 per cent of India’s GDP in 2007.
Some other sectors that offer maximum business opportunities in India are:
Telecom: Five leading telecom companies in the world have already invested large amounts to cash in the business opportunities in India’s telecom market. The sheer population of India reflects the growth potential of the segment.
Oil and Gas: With a 25-50 per cent lower capital cost alongside the strategic location on the route of Middle East crude for East Asian and Pacific-rim markets India is fast emerging as the global hub for oil refining.
Infrastructure: Growing at a rate of 8.6 per cent (2006-7), this segment offers tremendous business opportunities in India.
Retail: India tops the AT Kearney's annual Global Retail Development Index (GRDI) for the third consecutive year, maintaining its position as the most attractive market for retail investment.
Apart from the above, huge business opportunities in India lie the sectors like, financial services, healthcare and real estate.
In the post reforms period, setting up a business in India, is not a worry at all. The elimination of license raj has been able to cut off bureaucratic red tape to much extent. The liberal regime has shaped up an investor friendly economic climate over the years.
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