As a country, India covers a land area greater than that of Europe. Its inhabitants speak a bewildering get down of languages (16 official languages as well as innumerable topical anaesthetic dialects and patois) The people live in twenty-eight states and seven sexual union territories. It is hardly surprising, therefore, that India is a country about which it is very effortful to make sweeping generalisations.
Yet India presents a massive commercialise opportunity for companies who wish to expand their markets internationally. With a population approach 1.2billion - many millions of whom are reasonably affluent and possess man-sized disposable incomes -Â the sub-continent is widely tipped to be the second or third largest economy in the world within the next 20 years. (it is already the 3rd largest economy by gross municipal product Purchasing Power Parity).
People often forget that production line in India (growing at about 9% per annum GDP in 2011) is powered by a very strong domestic market which has seen strong performances in all three sectors or agriculture, industry and services and that these sectors, couple with high savings order and a very favourable demographic trend, make India a lot more than merely a low-cost option.
Any business sector administration that wishes to profit from Indias rise, would do well to spend a petite time studying the cultural norms which drive the thinking of the Indian people.
Although it is difficult to generalise about approach to business in India, there are certain factors which would seem to be closely universal in their applicability and which need to be borne in mind when working with Indian contacts. These issues include the fact that India is a country in which relationships are placed before business and thus the relationship phase of the business cycle could be considered to be the most important.
In addition, the legacy of the caste establishment ensures that businesses are extremely hierarchically structured and that the boss is very...If you deficiency to get a full essay, order it on our website: Orderessay
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