Building a successful business in India is an
attractive proposition, driven largely by the
sheer and staggering size of the market. Markets
here are confusing and complex—downright
daunting if you’re not familiar with the
overshadowing and underlying cultural and social
mindsets driving them.
There are, however, many
ways in which to establish a business presence
in India. The choice of market entry strategy
will depend largely on a company’s level
of commitment of resources. Each approach offers
its own set of advantages and disadvantages.
Here are some interesting
facts about the Indian market include:
By
2015, 44% of Indians will be under the age
of 20
GDP growth rate in 2003
is expected to top 7%
Middle class segment
is approximately 250 million persons, equivalent
to the US populations
GDP composition for 2002
is as follows:
o Agriculture (25%)
o Industry (25%)
o Services (50%)
India produces 3.1 million
college graduates a year, but this number is
expected to double by 2010.
The number of engineering
colleges is slated to grow 50%, to nearly 1,600,
in four years.
India tops the World
Bank's list of workers' remittances at $10 billion,
which is over 13 per cent of the total.