With a strong labor force, rich natural resources, favorable climate and positive outlook of Indians have made this country as one of the best places for companies to conduct their business. Indian government has left no stone unturned to create employment and business opportunities in India.
With tax and trade restrictions relaxed, starting a business in India indeed is quite an alluring proposition. To increase business in India, the government has implemented policies and crafted some regulations. For the years 2006 and 2007, Indian economy has earned 43rd rank in the world economic forum’s GCI position.
As far as communication is concerned, India’s official language is Hindi. However, English is widely spoken especially in the business arena. To add on to the diversity in India, the country has more than fourteen major languages and 300 other languages. As far as maintaining business relations in India are concerned, one needs to keep in mind that there are no harsh implications in one verbal communication. Most of the businesses in India maintain a hierarchy and respect their seniors. Indians are known for their amicability and warmth. They never refuse anything directly as it might offend the other person.
However, business etiquette in India is undergone changes as more and more Indians are influenced by western cultures. Industrial leaders of India are making changes in business policies to attract international business. Indian policy makers and industrialists are offering a robust economic environment for private and public enterprises in order to achieve growth and business stability within the country. As far as business dress code is considered, men generally wear a suit and tie and women wear saris, salwar suits or formals.
In India, Sensex is generally regarded as the most popular and precise barometer for the stock markets. The National Stock Exchange is one of the largest and advanced stock markets in India. The Securities and Exchange Board of India (SEBI) regulates the stock markets and other securities markets of the country. In terms of its transactions, the NSE is the world’s third largest stock exchange. Whether it’s a manufacturing sector , pharmacy, preschool or service sector, India offers tremendous amount of opportunities for individuals who are interested in setting up or expanding their businesses.
Entrepreneurial capabilities of individuals in India are been explored after the foreign policies have been liberalized. Multi national firms who have already set up their business have been more than satisfied by the way their operations are being carried out in India. All these factors have greatly contributed to the development of the Indian economy. More and more business opportunities and expansion are being created in India which is indeed going to boom the economy even further..
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