INDIA IN BUSINESS

  • World’s largest democracy with 1.2 billion people.
  • Stable political environment and responsive administrative set up.
  • Well established judiciary to enforce rule of law.
  • Land of abundant natural resources and diverse climatic conditions.
  • India’s growth will start to outpace China’s within three to five years and hence will become the fastest large economy with 9-10 per cent growth over the next 20-25 years (Morgan Stanley).
  • Investor friendly policies and incentive based schemes.
  • India’s economy will grow fivefold in the next 20 years (McKinsey).
  • Cost competitiveness; low labour costs.
  • Total labour force of nearly 530 million.
  • Large pool of skilled manpower; strong knowledge base with significant English speaking population.
  • Young country with a median age of 30 years by 2025: India’s economy will benefit from this “demographic dividend”.
  • The proportion of population in the working age group (15-59 years) is likely to increase from approximately 58 per cent in 2001 to more than 64 per cent by 2021.
  • Huge untapped market potential.
  • The urban population of India will double from the 2001 census figure of 290 m to approximately 590 m by 2030 (McKinsey).
  • Progressive simplification and rationalization of direct and indirect tax structures.
  • Reduction in import tariffs.
  • Full current account convertibility.
  • India is member of WTO.
  • Robust banking and financial institutions.

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