Economic Opportunities in India
Economic Opportunities in India 1
Economic Opportunities in the
Country of India
Sean P. Horton
International Business 260
Mr. Russell
March 22, 2009
Economic Opportunities in India 2
Abstract
While researching the economic opportunities in the country of India, we can see trends, such as that of calls being outsourced to India, signifying a vision of globalization, increased competition and market share. India is poised to become and remain a global competitor in International business with its diverse culture, immense population, and entrepreneurial spirit. With India advancing in technology, agriculture, and having some of the most basic functions of a free market-system, including a democratic government, private enterprises, and an evolving legal system, the country is transitioning economically at an unprecedented level. Proactive organizations should look, with a keen eye, for economic opportunities, increased market shares, and competitive and cultural advantages in this country which has immense potential for economic growth and development.
Economic Opportunities in India 3
Economic Opportunities in the
Country of India We were assigned particular countries to understand how they impact the business and cultural realms of the world. I had the privilege of learning how business transpires in the country of India. In addition, we studied how understanding culture, the political processes, and legal systems could impact businesses positively or negatively. Traditions play and important role in the daily affairs of Indians, thus it carries over into business practices. With a population of over one billion, India represents lucrative and diverse opportunities for global markets all around the world. In fact, in the year 2007, India totaled an estimated 41.7 billion in imports and exports. Before you can do business in India, it’s important to understand their history and culture. Hindi and English are
Economic Opportunities in the
Country of India
Sean P. Horton
International Business 260
Mr. Russell
March 22, 2009
Economic Opportunities in India 2
Abstract
While researching the economic opportunities in the country of India, we can see trends, such as that of calls being outsourced to India, signifying a vision of globalization, increased competition and market share. India is poised to become and remain a global competitor in International business with its diverse culture, immense population, and entrepreneurial spirit. With India advancing in technology, agriculture, and having some of the most basic functions of a free market-system, including a democratic government, private enterprises, and an evolving legal system, the country is transitioning economically at an unprecedented level. Proactive organizations should look, with a keen eye, for economic opportunities, increased market shares, and competitive and cultural advantages in this country which has immense potential for economic growth and development.
Economic Opportunities in India 3
Economic Opportunities in the
Country of India We were assigned particular countries to understand how they impact the business and cultural realms of the world. I had the privilege of learning how business transpires in the country of India. In addition, we studied how understanding culture, the political processes, and legal systems could impact businesses positively or negatively. Traditions play and important role in the daily affairs of Indians, thus it carries over into business practices. With a population of over one billion, India represents lucrative and diverse opportunities for global markets all around the world. In fact, in the year 2007, India totaled an estimated 41.7 billion in imports and exports. Before you can do business in India, it’s important to understand their history and culture. Hindi and English are
References: Reddy, D. E. (2004). Indian Council of Agricultural Research (ICAR) Journal of Agriculture & Food Information, 6(2/3), 3-12 Ringing up big sales. (2009). Canadian Business, Retrieved March 23, 2009, From Academic Search Premier database. Shukla M. (2006). Your Guide to India, Retrieved March 23, 2009, from http://www. Executiveplanet.com Srivastava, M (2009) Week Online, Retrieved March 23, 2009 from Academic Search Premier database. Wild, J. J., K. L. Wild, & J. C. Y. Han, (2006) International Business: The Challenges Of Globalization