Last updated: Feb, 2014
The liberalisation of India's economy in 1991 led many multinational enterprises to foray into Indian markets. India attracted cumulative FDI inflows of USD287.1 billion during FY01–131.
One of the key drivers for companies entering India is a large consumer market. Attractive demographics in addition to rising incomes and consumerism are driving growth in a host of industries. Therefore, multinational companies have expanded in India in search of growth. For successfully tapping the Indian market, these companies often have to introduce new products and develop strategies for marketing to a diverse population base.
The availability of a skilled labour pool has also attracted international companies. India has one of the youngest population bases among emerging economies. With education levels increasing, companies find it cost-effective to set up base in India for tapping this skilled labour force. Therefore, influx of both service-oriented industries such as financial services outsourcing and manufacturing companies such as auto-ancillary have increased in the past decade.
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Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.