India is the fastest-growing trillion-dollar economy in the world and the seventh-largest overall, with a nominal GDP of $2.72 trillion. India is expected to become the fifth-largest economy as per IMF projection.
Business opportunities in India : Here are the potential growth sectors in India :
Manufacturing sector in India
17 per cent of India’s GDP is represented by its manufacturing sector, in contrast to the 53 per cent of the services sector. The manufacturing sector of India has the potential to reach US$ 1 trillion by 2025 .
India is expected to rank amongst the top three growth economies and manufacturing destination of the world by the year 2020.
Among India’s fastest growing industries are automobile industry, food processing industry and electronic goods manufacturing industry.
Make in India
Project of Make in India is a “Be Indian and Made Indian” type of Swadeshi movement that covers the 25 sectors of economy. This plan was launched by the Government of India on 25 September 2014 to encourage companies to manufacture their products in India.
Banking helps a country to spread banking activities in rural and semi urban areas. India is primarily an Agricultural based nation. Agriculture is the backbone of economy of any country like India. The commercial banks help the large agricultural sector in developing countries. They provide loans to traders in agricultural commodities.
Make in India is a national campaign that promotes manufacturing growth for both domestic and international products.
Digital India is a campaign launched by the Government of India to provide Government’s services which are made available to citizens electronically by improved online infrastructure and by increasing Internet connectivity.
Project Digital India is based on:
EGovernance – Reforming government through Technology, EKranti – Electronic delivery of services, Information for all, http://qtcinfotech.com/ Electronics Manufacturing with the target of net zero Imports, Broadband Highways,Universal Access to Phones ,Public Internet Access Programme.
Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP by 2025.
Real Estate can be classified in the following categories:
Residential real estate: These includes both new construction and resale homes. Commercial real estate: These includes shopping centers and strip malls, medical and educational buildings, hotels and offices, Industrial real estate and the land.
The inventory of unsold real estate assets is growing and it is expected the market will undergo price corrections.
Retailing in India is one of the main feature of its economy and accounts for about 10 percent of its GDP. The Indian retail market is estimated to be US$ 600 billion and one of the top five retail markets in the world by economic value.
Retailers can buy products from a middleman, known as a wholesaler or distributor. The wholesale company consolidates the products from around the world. It repackages them for easier marketing and distribution.
An economic impact analysis of tourism activity normally focuses on changes in sales, income, and employment in a region resulting from tourism activity.
The tourism industry contributes 7.3 per cent of GDP and accounts for 6.5 per cent of total exports. In addition to this tourism sector contribute 2.7 per cent of the total employment in the economy.
India celebrates the unity in diversity with so many cultural and national festivals generating business for millions all the year around.