International Business & Economic Development | NY Essay

By admin on February 21, 2012

INTERNATIONAL BUSINESS & ECONOMIC
DEVELOPMENT IN INDIA
? ? ? ? ? ? ? ? ? ? ? AUTHOR: V. SUJIL, MBA

? ? ? ? ? ? ? ? CO- AUTHOR: S. PREETHI, MBA, DPMIR.,
? ? ? ? ? ? ? ? LECTURER ? MANAGEMENT STUDIES
? ? ? ? ? ? ? ? SASURIE ACADEMY OF ENGINEERING,
? ? ? ? ? ? ? ? ? ? ? ? ? ? COIMBATORE.

ABSTRACT

International Business in India looks really lucrative and every day, it is coming up with 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. The economic development of India was dominated by socialist-influenced policies, state-owned sectors, and red tape & extensive regulations, collectively known as ?License Raj?. It led the country and its economy isolated from the world economy. However the scenario started changing from the mid-1980s, when India began opening up its market slowly through economic liberalization.

INTRODUCTION
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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?

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