Doing Business in India
Welcome to the Mumbai office of the Export to Group in India. Our business exists to help businesses like yours develop and prosper in this incredible market. We offer market entry and ongoing support to international companies who have selected India as a target market for their products, services or technologies or as an entry point for sales throughout this vast market. We also offer our India based clients assistance regarding investment and trade opportunities in other markets where we have a local presence and will match their sourcing needs with the appropriate products and services from the best possible suppliers around the globe. In 2012 India became the third largest economy in the world in terms of purchasing power parity and its economic performance. The Indian economy comprises activity ranging from information technology to subsistence agriculture. After decades of failing to realise its full economic potential, India was one of the world's fastest-growing large economies throughout the early 2000s. Recently, however, growth has slowed and further economic reform is needed.This gateway to south east Asian markets is a remarkably fast growing economy with one of the world’s largest youth populations, with more than 50 cities now over a million people and an exceptional availability of skilled, low cost labour. A good network of banks, financial institutions and an organised capital market. What is there not to like about doing business with India?
Export to India- a few facts and figures
While selective reform was attempted from as early as 1960, the reform process began in earnest in 1991 due to a balance of payments and foreign currency reserve crisis. This process has focused on liberalising the economy through increased openness to financial and technology transfers, reform of the financial sector, trade liberalisation and reduced government administrative controls. The structure of the economy has changed over the past decade, with services playing an increasingly important role. This demonstrates the difference between India's services-led economic growth and the manufacturing-led development model followed in much of East Asia, including China. However, the Indian Government recognises that India will have to generate stronger manufacturing growth and power generation to sustain economic growth. India's real GDP grew by 4.4 per cent in 2013. The International Monetary Fund, forecasts GDP growth of 5.4 per cent in 2014 and 6.4 per cent in 2015. Reforms introduced in 2012 to open up key sectors to foreign investment and cut certain subsidies are expected to help boost sentiment in the medium term. Foreign direct investment (FDI) is likely to be a focus of the Modi Government.
Opportunities in India
The scale and range of potential opportunities in India is vast. India plans massive investment in infrastructure to meet the demand of its ambitious GDP growth target. Projects include the building of a large number of metros, modernising airports, increasing ports capacity, setting up new water and sewage treatment plants, improving road connectivity across the country, setting up of industrial corridors to improve industrial infrastructure and the creation of large scale manufacturing zones.Education is a focus area for the Indian government and a $20 billion market opportunity. The government aims to create 40 million new university places and 11,000 new secondary schools. Opportunities include setting up an offshore campus, partnering with Indian institutions to offer joint delivery of courses; curriculum development and joint research in Science, Technology, Engineering and Mathematics (STEM), humanities, arts and social sciences. Skills development is the core of India’s employment strategy set out in the 2012 to 2017 Twelfth Plan. This aims to develop the skills of 500 million people by 2022 and includes a need to train 79,000 trainers. There are therefore further specific opportunities in train the trainer programmes, curriculum and content development, accreditation and certification services, employer engagement and placement strategies
infrastructure planning and development, policy development and technical assistance, establishment of National Occupational Standards (NOS).
India is the world’s fifth largest energy market and fourth largest energy consumer. It accounts for 4.4% of global energy consumption. It has set an ambitious generation capacity addition target of 118.5 gigawatt (GW). The Asian Development Bank forecasts that $2.3 trillion investment is needed to close the power deficit in the energy sector. Opportunities exist in all sectors of the energy value chain.
India’s 2011 National Manufacturing Policy aims to increase the sector’s contribution to GDP from 16 % to 25% by 2022 and create an additional 100 million jobs. There are opportunities for the supply of raw materials and equipment, technological collaboration, research and development (R&D), licensed manufacturing, joint ventures, technical and vocational education.
The Indian biotechnology sector is anticipated to grow to £60 billion by 2025.The pharmaceutical sector is estimated to grow to £27 billion by 2020 and is dominated by generic drugs. Growth is projected due to pharmaceutical outsourcing and investments by multinational companies. Sector opportunities include co-development and contract research in drug discovery and development.
Therapeutic growth areas for R&D collaborations are oncology, diabetes, regenerative medicine
vaccines and there is a particular growing demand for licensing partners for innovative research together with contract manufacturing.
To discuss these and many more opportunities for profitable trade with India contact us today.
Export to India
Level 3, Now Vikram, Neo Vikram, New Link Road, Andheri West, Mumbai, 400058