Conducting Business in India

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Conducting Business in India

According to the CIA World Fact Book and the World Bank, India’s trillion-dollar economy has been ranked fourth worldwide and is the second most populated country in the world (n.d.). These statistics provide adequate indicators to corporations and aspiring entrepreneurs that India has potential within the world market. Since the reforms of the 1990s, India has embraced the concept of globalization and the open-market. GlobalEDGE (n.d.) identified these reforms to include “increasingly liberal foreign investment and exchange regimes, industrial decontrol, deductions in tariffs and other trade barriers, opening and modernization of the financial sector, significant adjustments in government monetary and fiscal policies, and more safeguards for intellectual property rights” (GlobalEDGE, n.d.). India’s transition has been systematic and has evolved from a closed-door economy to a thriving open-market that has unleashed the country’s economic potential with far-reaching impact.

Major Industries and Exported Products of India

Potential “Major U.S. imports from India include textiles and ready-made garments, Internet-enabled services, agricultural and related products, gems and jewelry, leather products, and chemicals” (GlobalEdge).

India’s economic growth as a result of globalization

Since the reforms of 1991, India has embraced globalization and has experienced steady growth year after year. According to the CIA World Factbook, India’s economy has experienced an average growth of more than seven percent since 1997 (CIA, n.d.).

Affects of local employment and income distribution as a result of globalization

Treatment of women in the workforce and how globalization has impacted their t...

... middle of paper ...

...ate gift, large expensive gifts, leather-made gifts, or gifts wrapped in white or black (globalEDGE, n.d.)

Works Cited

CIA world factbook India. (n.d.) Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/in.html

Dasgupta, K. (2003). Globalisation and Indian women: Problems, possibilities, and information needs – An overview. Retrieved from http://comminfo.rutgers.edu/~clairemc/IFLA_2003_proceedings.pdf

GlobalEDGE. (n.d). Global insights: India. Retrieved from http://globaledge.msu.edu/Countries/India

S Tarakeswara Rao, Prof G Tulasi Rao, & M P Suri Ganesh. (2011). Women

Entrepreneurship In India (A Case Study In Andhra Pradesh). The Journal of

Commerce, 3(3), 43. Retrieved from ABI/INFORM Global.

(Document ID: 2487921061).

Gender violence in India. Pranjya (2010). Retrieved from http://www.prajnya.in/gvr10.pdf

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