India Economy And Its Prospects Essay

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Today, industries that are dominated by human services including it, consulting and pharmaceuticals have low tariffs. For FDI-based strategies to be successful for consumer products, the multinational corporations (MNC) looking to expand into India will need to be much more culturally aware and sensitive than the it outsourcing companies hiring call center agents, programmers and systems analysts. For a consumer products company to succeed they will need to navigate the many laws and regulations of running a business in India, negotiate for lower tariffs to import products, and build a supply chain in India as well. It is attractive for MNCs looking to expand into India using Foreign Direct Investment (FDI) strategies, yet they must concentrate on the cultural sensitivities of the country first, partner closely with...

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The Indian government has become more accepting of FDI by consumer companies expanding there, yet there must be a plan to achieve cultural integration and infuse regions with economic growth quickly if these plans are to succeed (Shroff, 2008).

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References

Alok Aggarwal (2008). Emerging Markets: India's Role in the Globalization of it. Association for Computing Machinery. Communications of the ACM, 51(7), 17.

Chandana Chakraborty, Peter Nunnenkamp. (2008). Economic Reforms, FDI, and Economic Growth in India: A Sector Level Analysis. World Development, 36(7), 1192.

Cyril Shroff (2008, June). India Guide: M&a and private equity in India. Asialaw Review.


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