India - A Land of Vast Opportunities

A Corporate Mechanic’s Journal — 2 of 10

Mumbai — India’s Largest City

A few years back, I worked for an MNC and spent most of 18 months in Bangalore India. To me; India is a land of opportunities. I can’t figure out which other nation has the many opportunities like India. The only problem is that they are in potential.

Paul Davies a renowned author, in his book “What’s This India Business?” explains how multinationals from the western countries are migrating to India. He explains this as a practical demonstration of the real value in India.

Many companies have realized the potential that India holds. Mid 2017, SoftBank vision fund gave undisclosed kitty to India’s Flipkart E commerce market leader in India. According to Sanchin Bansal, co-founder of Flipkart, very few economies globally attracts such an overwhelming interest from top tier investors like Vision fund. My sentiments that India is a land of opportunities were backed by Masayoshi Son the chairman of Softbank in his speech while handing over the kitty to Flipkart.

In 25–30 years, India can surpass the US and become № 1 in the world. — Masayoshi Son, SoftBank

Great Institutions of International Standards

Compared to China, India prides itself with several technical and management institutions of high international standards offering excellent human resources. I worked with talented graduates from many universities in India, and I must say they possess good skills and technical know-how. The University of Delhi is ranked among top 200 universities worldwide and produces qualified graduates to the market every year. Therefore there is a diverse workforce readily available for the international businesses setting up in India.

India Financial Market & Economic Performance Indicators

India is one of the most exciting markets in the world for financial services innovation — Kabir Kumar, World Bank

Countries’ financial market is used as an indicator when analyzing attractiveness of a country to investors. China’s financial market is highly prone to financial crisis compared to India. India’s financial market has higher resilience and therefore places India as a more attractive compared to China. India Ranks number 38 while China ranks number 56 in terms of financial market development. Although India ranks as a poor country in the global indicators, it has a strong economic growth rate compared to other Eastern Asia Countries.

India Technology Talent

India is currently competing with China in terms of attractiveness to high tech firms. This is due to the current low labor costs in India. The rising talent in India comes with lower cost compared to their Chinese counterparts. Even China could soon be heading to India to tap into India’s high tech talent. US based software firm CA Technologies have recently focused on establishing its research team in India and disbanding its 300 research staff in China. I believe more will follow suit.

IT outsourcing has also experienced a strong growth rate in India, in line with the global trend. This is highly driven by increased spending in infrastructure management, applications management, testing and service oriented architecture segments. The IT-enabled services has grown to become one of the key sectors of India’s economy. E-commerce in India is highly placed with Flipkart leading in innovation and technological advancements.

India’s Cultural-Economic Activities

The cultural beliefs of the people of India are supportive to business. The Indians believe in living life in the fast lane with everyone rushing to their destination to participate in building the nation. The people of India believe in loyalty and assertiveness in whatever they do and are a committed work force. The entrepreneurial culture of the Indian people places India as an attractive country to do business with. Many businesses there are owned by renowned families and continue to prosper day by day.

Conclusion

Major businesses in the global economy have their presence in India in one way or the other. They either sourced from India or sell to India or actually employ the Indian workforce. Therefore, any business willing to venture needs not to think twice. Lay your strategy well and get to India. India is indeed a land of opportunities and an avenue to economic prosperity.

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