Domestic and Global Business
Domestic Business Environment
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Introduction
India's business environment has improved considerably after the initiation of economic reforms in early 1990s. Domestic and foreign investors are finding it easier to do business after the reforms, which are aimed at reorientation of the centrally-controlled economy to a market-oriented one in order to foster greater efficiency and growth. This is being done by introducing greater competition in the economy through progressive internal deregulation accompanied by foreign direct investment and trade liberalization. However, the turmoil which surfaced in the US financial system has also adversely hit the Indian economy. Compared to other emerging economies, India has several strengths that can help mitigate the adverse effects of the global economic crisis. In spite of the global meltdown, Indian economy offers ample opportunities for business, both to the domestic and foreign entrepreneurs. This work contains 21 research papers dealing with various aspects of current business scenario in India, and it examines the economic policies of India's government.
Investments Incentive
The role of the private sector and foreign investment in the Indian economy is increasing. • The rupee is now convertible on the current account, and exchange rates are market-determined. • There has been rapid progress in implementing government commitment to the deregulation process. • Industrial policy emphasizes boosting economic growth through encouraging the generation of income and wealth. • The vast and growing middle-class population provides a large domestic market. Skilled manpower and professional managers are available at moderate cost. Capital markets, the banking infrastructure and the financial services sector are well developed.
Industrial Climate:
India has a mixed economy, with the government-owned public sector and the private sector playing active roles. The public sector has
[pic]
Introduction
India's business environment has improved considerably after the initiation of economic reforms in early 1990s. Domestic and foreign investors are finding it easier to do business after the reforms, which are aimed at reorientation of the centrally-controlled economy to a market-oriented one in order to foster greater efficiency and growth. This is being done by introducing greater competition in the economy through progressive internal deregulation accompanied by foreign direct investment and trade liberalization. However, the turmoil which surfaced in the US financial system has also adversely hit the Indian economy. Compared to other emerging economies, India has several strengths that can help mitigate the adverse effects of the global economic crisis. In spite of the global meltdown, Indian economy offers ample opportunities for business, both to the domestic and foreign entrepreneurs. This work contains 21 research papers dealing with various aspects of current business scenario in India, and it examines the economic policies of India's government.
Investments Incentive
The role of the private sector and foreign investment in the Indian economy is increasing. • The rupee is now convertible on the current account, and exchange rates are market-determined. • There has been rapid progress in implementing government commitment to the deregulation process. • Industrial policy emphasizes boosting economic growth through encouraging the generation of income and wealth. • The vast and growing middle-class population provides a large domestic market. Skilled manpower and professional managers are available at moderate cost. Capital markets, the banking infrastructure and the financial services sector are well developed.
Industrial Climate:
India has a mixed economy, with the government-owned public sector and the private sector playing active roles. The public sector has