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Theeconomic environment

IndianPolitical and Socio-Economic Environment

Kudchadker,Arvind P. Indian Political and Socio-Economic Environment. August2011. Web. 31 March 2014.

  • Presently Indian economy is ranked 9th in the global arena in reference to nominal GDP

  • It is ranked 4th in reference to the purchasing power parity

  • In reference to the market exchange, the IMF ranked India as number 11 in 2013.

  • In the financial year 2011-2012, its expected growth rate was between 7.5% and 8%.

Globalizationtrends in Indian economy

Gupt.Globalization trends in Indian economy. Indian Business Economy.2014. Web. 31 March 2014.

  • Trade protectionist policies ended in 1991

  • Balance of payment problems triggered trade liberalization

  • In 2007, economic liberalization reached the peak making India the fastest growing economy with a growth rate of 9%

  • Presently, India is considered a capitalist economy

  • India joined the World Trade Organization in 1995

  • Its labor force is second largest in the world

  • The service sector, industrial sector, and the agricultural sector make up 55%, 26%, and 18% of the GDP.

BusinessEnvironment Snapshots-India

WorldBank. Business Environment Snapshots-India. 2013. Web. 31 March 2014.

  • In reference to global competitiveness India is ranked number 51

  • In reference to the financial markets, India is ranked number 17

  • India is ranked number 44 in respect to level of business sophistication across the globe

  • In respect to the degree of innovation, India is ranked number 39 globally

  • In the world, the level of banking is ranked number 24.

  • The major issues in India economy include powerful lobbies from farmers and trade unions

  • Is endowed with many natural resources with coal being its major mineral

  • The major agricultural products are rice, oilseed and wheat,

  • The major exports are textiles, petroleum products, and biotechnology

  • The main imports are gems, crude oil, and machinery.

  • The common industries in India are textile, pharmaceutical, and petroleum industries.

  • Telecommunications is the fastest growing sector in India followed by automotive industry.

EconomicEnvironment of India

Ramachandran,K S.&nbspEconomicEnvironment of India: Lessons from the Past and for the Future.New Delhi: Northern Book Centre, 2007. Print.

  • Since is the most populous economy after China, it also means it the second biggest market in the world.

  • The greatest challenge is economic development is that across the globe, India has the highest concentration of citizens living below the poverty line index.

  • Inflation is a concern

  • High level of corruption is common

  • English is the official business language

  • Successful business requires negotiations to establish relationships

  • Business lunches are preferred

AnOverview of Select Multinational Companies in the Indian Marketplace

Ondracek,James,Bertsch,Andy, Saeed,M. &amp Taft,Carlan. Scanning the BusinessEnvironment in India: An Overview of Select Multinational Companiesin the Indian Marketplace. June 2012. Web. 31, March 2014.

  • It is expected foreign direct investment will be legalized soon because the cabinet has already passed the bill.

  • Economic reforms have attracted many foreign firms because of the vast potential

  • Examples of global firms operating in India include METRO, IBM India, AVIVA and AMWAY India among others

Thepolitical environment

IndianPolitical Environment Overview

RobotW.P. Indian Political Environment Overview. 2014. Web. 31 March 2014

  • It is has a plural political system

  • India is the biggest democracy in the world

  • The major parties are Bharatiya Janata Party (BJP)and Indian National Congress.

  • There are other more that 40 small parties established on region basis

  • Major political party is the Indian National Congress that advocates for socialist economic policies

  • The Bharatiya Janta Party (BJP) party ruled India between 1998 and 2004 during which they advocated for the caste system

  • in 2004, Indian National Congress won the election until to date

  • Indian National Congress is responsible for the present level of globalization in India to date