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INDIA BUSINESS AND INDUSTRY
Indian Business and industry is emerging as a significant driver of South Asian and International economy. With a Population of about 950 million India is one of the largest markets for industrial and consumer goods. And with a consumer base of about 320 million India ranks amongst the top five globally, in terms of purchasing power parity.For nearly four decades after India's independence from British colonial rule the Indian Business and industry were very closely and rigidly directed by the state. However since 1991 successive Indian Governments have launched a regime of economic and monetary liberalization thereby opening up Indian markets to international players and gradually integrating Indian business and Industry with the global economy. This has resulted in India being amongst the top 5 in attracting Foreign Direct Investment(FDI) amongst developing nations. Along with china and Mexico, India is the most happening place for global Investments amongst emerging markets.Automobiles, Financial Services, Power, Telecom and infrastructure are some of the Indian Business sectors which have attracted significant FDI. For example in the case of automobiles most of the global majors like Ford, GM, Fiat, Volvo, Toyota, Mercedes Benz, Honda, Hyundai and Daewoo, have invested in greenfield manufacturing plants in the last 2 to 3 years with investments aggregating about 3.5 billion US Dollars.
Similarly Since 1991 the banking and financial sectors have seen American and European broking and Investment firms like Merril Lynch, JP Morgan, Goldman sachs, Soros fund, Bank Paribas, credit Suisse and others open shop and take large medium and long term exposures to Indian Industry & business via the Indian stock and money markets. Similar transnational corporate investments are being made in most other sectors of the Indian Industry.
INDIA'SCOMPETETIVE ADVANTAGES
All this interest from global players is due to several inherent advantages that India offers apart from its large size and a consumer base lager than several European countries put together.
1 . A stable democratic political system and an institutionalised legal and regulatory framework.
2 . A wide and diversified industrial base with a long and successful tradition of business and industry.
3 . A strong banking and financial network with necessary regulatory institutions- Over 60,000 bank branches, 2 national and 20 regional stock exchanges with over 9000 listings.
4 . A strong Private sector ( Accounting for over 75% of GDP).
5 . A large pool of highly skilled and English speaking manpower across all branches of humanities, science and technology .
6 . A wide agricultural base with self sufficiency in food production .
SOME VITAL STATISTICS
Land Area- 3.29 Million Sq.Kms
Capital- New Delhi
Population- 952 Million
Literacy Rate- 52.21% (1991 census)
Major religions- Hinduism, Sikhism, Islam, Christianity and Jainism.
Languages- Common Language-English
Major Language group-Hindi
Regional Languages-18
Currency- Indian Rupees
GDP- US$ 360 billion(1998-99)
Exports- US$ 33.60 billion(1998-99)
Imports- US$ 41.80 billion (1998-99)
Forex reserves-US$ 29.5 billion(1998-99)
FDI -US$ 2.10 billion(1998-99)INDIA’S PRINCIPAL TRADE BODIES
1. CONFEDERATION OF INDIAN INDUSTRY(CII)
23, Institutional Area
Lodi Road
New Delhi-110 003
INDIA
www.ciionline.org
2. Associated Chamber of Commerce and Industry (ASSOCHAM)
11, Community Centre,
Zamrudpur,
New Delhi-110 048
INDIA
www.assocham.org
3. Federation of Indian Chambers of Commerce and Industry(FICCI)
Tansen Marg
New Delhi-110 001
INDIA
www.ficci.com
INTERNATIONAL BUSINESS AND INDUSTRY LINKS
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