Why India is going to be the future of doing business?

If the 19th century is defined by the progress in industrialization, and the 20th century by the development in the market economy and globalization, the illustrating features of the 21st century boils down to the substantial and ubiquitous alterations and a change from unipolarity to multipolarity in India.

Started by the ingenious technological rise, the genesis of the Fourth Industrial Revolution has brought forth some significant transformations in the structure and constitutional character of the economy. With the meaningful redistribution of the level, place, and consistency of output, the Indian industries are more global and interlinked than ever.

India has more than half of its population at a working age. With an unusual demographic position, it has managed to climb up in the Global Innovative Index. India is one of the few countries which has been progressively growing in its position for nine years. The reasons? Its demographic advantage, technological intrepidity, artificial intelligence, cloud computing, bots, robotic process automation (RPA), and a profound interest in innovation fused with the opportunities that the Fourth Industrial Revolution has to offer, has peppered our exhibitions and discussions. These words are no more just jargon but have shifted from the edge of the future to mature into our daily reality, to be trusted, welcomed, and employed to develop and scale enterprises. All this has let India strengthen its status as a powerful authority in global industrial, governmental, and strategic affairs.

In the recent decade, India has seen a burgeon of start-ups in areas such as digital management, online retail, education, and the software industry. The number of unicorns in India has also risen. This is as per the FDI review issued by the Confederation of Indian Industry (CII), in alliance with EY. It divulges that India is the premier choice for prospective investments. 25% of the respondents, that represent non-Indian HQ MNCs, see India as the premium choice for forthcoming ventures. The study clearly reveals that more than 80% of total respondents and 71% of the non-Indian headquartered respondents intend to make investments globally in the subsequent 3 years. Roughly 30% of corporations are intending to finance more than 500 million dollars.

Furthermore, about half of the respondents view India as one of the top three economies or leading production destinations of the world by 2025. The respondents have remarked business potential, proficient workforce, and political durability as the top three reasons that have made India their first option. Other important parts that contribute to this preference is the cheap employees, availability, policy improvements, and availability of raw supplies.

Novel developments in the nation such as corporate tax cuts, Ease of Doing Business standards, ease of labor legislation, FDI reformations, and convergence on human capital have surfaced as the prime operators for current investments. Non-Indian HQ MNCs have also pointed out that significant expenditure in infrastructure and 100 Smart cities in addition to the commercial sector reformations will equally assist in stabilizing India as a promising address for FDI.

While on one hand, 40% of the non-Indian HQ organizations think that the efficient execution of labor laws and FDI reforms are very impactful, 52% of the Indian HQ corporations, on the other hand, consider corporate tax rate reduction would be the top advanced of future investments.

The quality of the workforce combined with technology that is constantly developing has dominated the course of many Indians. Coupled with its geographic and demographic size and boundless heterogeneity amongst the people, India has an unprecedented chance to develop its global agendas. It can authenticate itself as a role model and motivation for the rest of the world by responding to these possibilities with a ringing influence for our mutual future.