What is the future of business environment in India?
The future of business environment is very bright,. Indian economy is already one of the biggest economies in the world and growing fast. As per world Bank data India, with its GDP of 3,097 billion international dollars in terms of purchasing power parity in 2007 ranks fourth largest economy in the world. And it is expanding at an impressive rate. With its sheer size of economy India occupies a important position in the world.
India has well developed agriculture, industrial and service sectors. It has a large pool of expertise in areas of technologies, plus a large population of educated people to man its industries and business activities. This provides India with a large and convenient base for setting up and operating all types of industrial and business activities.
The wages continue in India are lower as compared to all developed countries. This is a big advantage in setting up industries here. However it must be noted that the wages are rising, and cannot continue to remain low forever.
In addition India has good availability of many types of agricultural and mineral resources.
It has a stable government and fairly liberal government policies on setting up of industries in general as well as participation of foreign investors in Indian business and industries.
Further its large population with rising incomes has become very lucrative market for all types of consumer products.
The biggest limitation of India is infrastructure, particularly for transport and power. However, India is making rapid progress in these areas also.