Brief Indian Economic Conditions

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INDEX Sr.No Title Page No 1. Country Detail 2-3 2. India in brief: Indian Economic Conditions 4 3. Overall business scenario 5 4. Dos and Don’ts with regard to business 6-7 Country Detail INDIA The Republic of India is a country in South Asia. It is the seventh-largest country by area, the second-most populous country with over 1.2 billion people, and the most heavily populated democracy in the world. surrounded by the Indian Ocean on the south, the Arabian Sea on the south-west and the Bay of Bengal on the south-east, it shares land borders with Pakistan to the west China, Nepal, and Bhutan to the north-east and Burma and Bangladesh to the east. In the Indian Ocean India is in the vicinity of Sri Lanka and the Maldives; in addition, India's Andaman and Nicobar Islands share a maritime border with Thailand and Indonesia. India is now one of the fastest growing economies in the world with a large skilled workforce. The country has a burgeoning urban middle class and has made great strides in fields such as information technology. However, India's economic growth remains constrained by inadequate infrastructure, bureaucracy, labor market rigidities, and regulatory and foreign investment controls. About 60 percent of the population is still living close to, or below, the poverty line. Fact File: Region : Asia Population : 1,236,344,576 Area Total : 3,287,590 km2 Area Land: 2,973,190 km2 Coast Line: 7,000 km Capital: New Delhi Currency: 1 Indian rupee (Rs) = 100 paise Language: English Hindi Bengali Telugu Marathi Tamil Urdu Gujarati Malayalam Kannada Oriya Punjabi Assamese Kashmiri Sindhi Sanskrit Source: ... middle of paper ... professional and budget for taxes. Do invest in technology. Do prepare a detailed written business plan. Do join your local chamber of commerce, local civic organizations, trade groups, and entrepreneurs’ organizations. Do get to know your customers and suppliers. Do network. DON’T of the business Don’t make expensive office space and furnishings a high priority unless you are in an "image" business. Don’t print your stationary, business cards, and promotional materials until you need them. Don’t ask or permit your employees to breach confidentiality of your company. Don’t spend money required to be set aside for employee. Don’t sign company contracts in your individual capacity. Don’t put off buying insurance. Don’t pass up opportunities for free publicity. Don’t try to do everything yourself. Setting up a business is complicated.

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