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Advantage
India
Introduction
With
a land mass of 3.29 million sq. kilometers and a population
of over 1000 million, India possesses a richness and
diversity of culture, geographic and climatic conditions,
and natural and mineral resources, matched by few other
countries in the world.
India
emerged as an independent nation in 1947, the year in
which the British rule came to an end. A new spirit
of economic freedom is stirring in India, bringing sweeping
changes in its wake.
The
opening up of the economy, has resulted in the entry
of a large number of foreign companies. The continuation
of liberalization and introduction of new economic policies
have created a sea of new opportunities for domestic
and foreign investors particularly in the infrastructure
and the new economy sectors.
India
has emerged as the fifth largest economy in the world
and has the second largest GDP among emerging economies
based on the purchasing power parity.
India
is a vibrant economy:
- Self-sufficiency
in agriculture
- High
domestic savings and investment rates
- Buoyant
industrial growth (rise from 0.6 percent in 1990-91
to 6% percent in 2000-01).
- Large
and diversified infrastructure and industry, spread
across the country
- Strong
and mature private sector
- Current
account convertibility
- Partial
capital account convertibility
- High
exports growth rate and a comfortable balance of payments
situation
- Developed
banking system and financial markets
- Low
inflation.
India
has certain fundamental strengths that assure and facilitate
foreign investment:
- Use
of English as the link language
- Strong
legal and accounting system
- Established
independent judiciary
- A free
and vibrant press
- Large
engineering and software manpower pool
A
large number of foreign investors have entered various
sectors of the Indian market. They range from Fortune
500 companies to small and medium enterprises from all
over the world.
Companies
around the world are gaining competitive advantages
by using Indian software services that offer high quality,
cost-effectiveness, time savings, state-of-the-art technologies
and above all reliability.
India
is among the most favoured destinations for foreign
investment today.
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