International Business in India

International Business in India looks really lucrative and every passing day, it is coming up with only more possibilities. The growth in the international business sector in India is more than 7% annually. There is scope for more improvement if only the relations with the neighboring countries are stabilized. The mind-blowing performance of the stock market in India has gathered all the more attention (in comparison to the other international bourses). India definitely stands as an opportune place to explore business possibilities, with its high-skilled manpower and budding middle class segment.

With the diverse cultural setup, it is advisable not to formulate a uniform business strategy in India. Different parts of the country are well-known for its different traits. The eastern part of India is known as the 'Land of the intellectuals', whereas the southern part is known for its 'technology acumen'. On the other hand, the western part is known as the 'commercial-capital of the country', with the northern part being the ‘hub of political power'. With such diversities in all the four segments of the country, international business opportunity in India is surely huge.

Sectors having potential for International business in India :

1. Information Technology and Electronics Hardware.
2. Telecommunication.
3. Pharmaceuticals and Biotechnology.
4. R&D.
5. Banking, Financial Institutions and Insurance & Pensions.
6. Capital Market.
7. Chemicals and Hydrocarbons.
8. Infrastructure.
9. Agriculture and Food Processing.
10. Retailing.
11. Logistics.
12. Manufacturing.
13. Power and Non-conventional Energy.

Sectors like Health, Education, Housing, Resource Conservation & Management Group, Water Resources, Environment, Rural Development, Small and Medium Enterprises (SME) and Urban Development are still not tapped properly and thus the huge scope should be exploited.

To foster the international business scenario in India, bodies like CII, FICCI and the various Chambers of Commerce, have a host of services like :

1. These bodies work closely with the Government and the different business promotion organizations to infuse more business development in India.
   
   
2. They help to build strong relationships with the different international business organizations and the multinational corporations.
   
   
3. These bodies help to identify the bilateral business co-operation potential and thereafter make apt policy recommendations to the different overseas Governments.
   
   
4. With opportunities huge, the International Business trend in India is mind boggling. India International Business community along with the domestic business community is striving towards a steady path to be the Knowledge Capital of the world.

It was evident till a few years back that India had a marginal role in the international affairs. The image was not bright enough to be the cynosure among the shining stars. The credit rating agencies had radically brought down the country's ratings. But, as of now, after liberalization process and the concept of an open economy - international business in India grew manifold. Future definitely has more to offer to the entire world.