At 9.4% of Annual growth India Inc. is on the upswing of economic renaissance. ' American Companies in India' forms the major chunk of the foreign companies operating in India.
Apart form the core sectors like IT and Telecom, sectors like Automobile, Pharmaceuticals & Biotechnology, Semiconductor, Aviation, Infrastructure and Defense are witnessing tremendous growth. ' American Companies in India' that set their foot post 1990 had reaped tremendous profit and still going great guns. Technology, Colas, Automobiles, Agriculture, Equipment companies and Finance & Banking sectors have been reporting double digit year-on-year growth. American Chamber of Commerce in India reports, that its membership base has grown from zero in 1992 to more than 300 till date. The ' American Companies India ' community has registered maximum success in the technology space, in terms of investment and growth. ' American Companies in India ' like Cognizant Technologies (largest export revenue earning MNC) IBM, Oracle, GE, Cisco, Compaq and Intel lead the MNCs in the IT sector. Out of the top 20 IT firms operating, 9 are from the pool of ' American Companies Operating in India ' . These ' American Companies in India' account for around 37% of the turnover of the top 20 firms operating in India.
Some heartening facts about the operation of ' American Companies in India ' are -
- Coke's one of the most profitable global markets is India.
- Citibank and Bank of America generate more profits in India than their global average.
- General Electric did $ 1 billion worth of business here three years ago, and have the second largest base in Bangalore, India. It invested around US $ 600 million in India; this money has generated domestic earnings of US 1 billion and exports worth another US $ 1 billion and generated 22000 jobs.
- Reebok's fastest growing market in the Asia Pacific is India.
- India is Motorola's 3rd largest market.
- Retail food chain giants McDonald, KFC etc. are registering growth more than their global average.
The monumental growth of the ' American Companies in India ' is not restricted to IT or manufacturing, India's massive farm sector, which employs 70% of the population either directly and indirectly has created huge investment opportunities. Agro-chemical giant 'Monsanto' is working on GM modified crops and fertilizers. It is also gaining huge popularity in the Forging sector. 'Wal Mart' the retail giant, in collaboration with Bharti enterprise sees huge opportunity in the retail sector. ' American Companies in India ' are also benefiting from the growing size of the domestic market apart from the established sectors working for foreign markets.
With improved government policy, strong legal enforcement, bullish Stock Market, better infrastructure and above all low-cost highly skilled work-force, India is racing ahead to emerge as a global hub for the ' American Companies in India '.
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