India - A Big Mart

You cannot bury the past, they say. It always claws its way back. That explains India’s rising status as second best economy in the world. For more reasons than one, the golden bird is all set to fly again. Made in India is the mantra of the modern times.

Skeptics (read: China) fail to understand why India is shining, while scores of countries adopting similar economy propelling practices have failed to prosper. No one knows the reason why, but world’s attention has undoubtedly shifted to India, as sunflowers turning to the sun.

The pace with which India is establishing world-class companies has also baffled our neighbours (China), whose corporate makeup is based on state-owned and foreign companies.

Now coming back to the past, India was known as the golden bird-world’s wealthiest nations. Every Indian had plenty to eat; trade was thriving, riches unbounded. Enamoured by India’s glowing riches, the Mughals, the Europeans and the British came calling and together they plucked bare the golden bird. And finally when India could manage to throw out the British, it was already cold and bare, riddled with illiteracy, poverty and mounting debts.

Today, however, if we look back, it is highly felt, the caste system which India has been practicing since time immemorial has come handy in the resurgence of world’s biggest democracy. The Vaishyas, of course, members of the merchant caste, who over the years have the learnt the ropes of accumulating capital, has apparently endowed the nation with a competitive edge. Commerce is a natural trait they say and it helps if you have a committed group of risk-taking entrepreneurs who knows how to make most of the opportunity. In fact, today Vaishyas lead the Forbes list of Indian billionaires.

Little wonder, India is gaining back its lost glory. Once again India has become the epi-centre for all trading activities. In other words, India has become a big mart. Backed by expanding middle class, higher disposable incomes and proactive government policies have come together to propel India into the top league. Goods manufactured in India have global demans.

In fact, India gives global business houses an excellent opportunity to buy quality goods at extremely competitive prices and that to in a healthy business climate. The economic policies, coupled with flexible regulatory environment and taxation system has inspired foreigners to flock Indian shores for Indian made products. Special attention is also given to the Industry-related logistical issues.

Why global business houses looking forward for India made goods?

Valid question. Those seeking to source India goods will want to make themselves familiar with circumstances which will help them in easy sourcing. The following points will answer all your queries.

• Counted among the top 10 economies of the world

• Massive manufacturing base, including aircraft, locomotives, ships, cars, power plants, capital machinery, chemicals, consumer electronics, textiles and food products.

• Dream destination in the world in terms of low-cost, high-value software services and R&D

• Largest congregation of English speaking educated workforce in Asia

• Second largest railway network in the world, coupled with vast coastline and sea ports

• A free market economy with latest legal, financial systems and a free press/media

• Business and cultural associations with neighboring countries like Bangladesh, Sri Lanka, and Nepal that provides a proactive platform for sourcing from them as well.

• Abundance of high-skilled, low-cost base of labour, having long-term sustainability.

• Foreign counterparts are seen more as partners in fostering domestic manufacturing capabilities rather than a threat to Indian businesses.