India is the fastest growing, 4th largest economy in the world. It is expected to grow further in coming years.
Growth is largely driven by domestic demand, fueled by a rapidly growing middle class.
Three Drivers for Growth:
Over 1.2 billion people, of whom 572 million are under the age of 24 (Country with biggest youth population in the world)
Rising income levels & a growing middle-class
Exposure to Western lifestyles create inflexion for products and services
Next round of economic growth will take place in emerging cities (2nd & 3rd tiers), Creating new SMART cities
Co-operative & Competitive Federalism
Myriad opportunities across sectors.
Liberalization of wider sectors.
Initiatives by Indian Govt. i.e. Make in India, Digital India, Skill India
India is a huge, diversified and complex market but considering ongoing development and economic growth of the country, it offers a huge opportunity to European & American businesses across sectors and regions.