India represents the biggest democracy in the world. Today
India is one of the most exciting emerging markets in the world. Skilled
management, technical man power, that matches the best available in the world
and untapped purchasing power of the middle class, whose size exceeds the
population of the United States of America or the European Union, provide
India with a distinct cutting edge in global competition. Since July 1991,
India has concentrated on development, liberalization of process of law and
procedure for doing business in India. According to a report by Goldman Sachs
productivity growth will help India sustain over 8% growth until 2020 and
become the second largest economy in the world, ahead of United States of
America by 2050. The World Bank has ranked India as one of the top reformers
world wide in a recent report of 2007. According to a report "Doing Business
in South Asia 2007" released by the World Bank, it is stated that doing
business in India became easier during 2005-06. The report compares business
regulations in South Asia with 175 countries across the world. As regards
protecting investors, India performs well, it ranks 33rd worldwide and has a
strength of investor protection score of 6 out of 10 across all cities.
Political stability has added advantages for doing business in India.
Whichever political party comes in to power, the liberalisation process and
foreign policy remain unaffected. India is the only country, which has set up
"National Knowledge Commission". The National Knowledge Commission
is a high-level advisory body to the Prime Minister of India, with the
objective of transforming India into a knowledge society. It covers sectors
ranging from education to e-governance. We have multicultural, multi language,
multi religious background which is truly secular, as India is fast embracing
the global economy.
Overseas investors are looking at India as an attractive
investment destination owing to the prospects of high returns. A number of
Corporates and Multinational companies from all over the world have
established business in India and have expanded over years.
India has witnessed a number of success stories — both
Indian and multinational firms have registered higher profits, increased
turnover and higher sales over the years. This has induced them to reinvest
profits and inject fresh capital into their process in order to reap the
benefits of the India growth story.
Investments have been made by corporate across the board
and almost all the sectors have seen inflow of funds. Global players such as
Daimler Chrysler, General Motors, Ford, LG Electronics, Samsung, Sony Amway,
Tupperware, Pepsico, MacDonald, IBM, Oracle, Microsoft, Aviva, Nortel, Nokia
amongst others have benefited from their operations in India and have made
expansion plans for the country.
In India, service sector, contributes 51% of India’s GDP.
We have 7,50,000 lawyers and 1,40,000 Chartered Accountants hence, the
professionals can play a positive role to attract more investment to India and
development of the nation.
Dr. K. Shivaram
Editor-in-Chief