For past few years, Indian economy has been booming like never before, opening a plethora of opportunities for business oriented populace of the country. With the emergence of information technology, India is being seen as a knowledge hub with a large pool of educated, talented and enterprising folk. India is not a place any more where once youths used to struggle for a job to merely earn their livelihood. Now new-age entrepreneurs, with their great entrepreneurial spirit, strive to create their own niche. Their knowledge, creativity and innovation often make them successful in their respective ventures.
No doubt, a business in India has a great promising future. The rising middle class with their larger proportion of disposable income and higher purchasing power is much to credit for the success rates of businesses in India. Indian populace, with a new zeal for good lifestyle, have started investing significantly in white goods and designer items, giving a much desired zest to the young entrepreneurs always desirous to do something different.
Global brands are also aware of India’s booming economy and are eyeing the country as a new playfield for adding prosperity to their business. They are quite excited at the business prospects and started reaching even smaller towns of the country. Many global FMCG products, and electronic goods have their solid base in the country and their customer base is growing at an unprecedented rate.
Many international firms, particularly in mobile accessories, real estate and insurance sectors, have started entering into a joint venture with an Indian firm to expand their business in the country. In many cases, mergers brings home more funds, new knowledge and technology and thus further consolidating the growth saga of business on Indian land. Most of these joint ventures are quite optimistic about their outcome and have started investing greatly.
Besides, our own business groups have attained new heights in business, with their expanded reach across the frontiers. Many reputed business names such as Tatas, Birlas, and Ambanis have taken Brand India to the pinnacle. Their success stories tell a new tale of soaring Indian corporate houses in the global business contexts.
While big Indian corporate houses have carved their niche, the government of India has stressed upon the need of developing India’s medium and small industries. Efforts are on to ensure their growth and encourage more people to embrace entrepreneurship. For startup companies, funding is no more a Herculean task with financial institutions relaxing their norms to support the enterprising youths with innovative ideas. Besides, venture capitalists are also there to fund a lucrative business prospect. In many institutions, incubators have been instituted to support and develop new business ideas among students. In a nutshell, businesses in India are going northward and an entrepreneur has all the chances to reach to the peak, if he or she has the right idea and a passion to excel.