Wednesday, May 6, 2020

Indi A Developing Country With The Second Largest Population

India has attracted foreign companies and business investor recently after it has been labeled as BRICS countries including Brazil, Russia, India, China and South Africa. Many international companies, especially the Information Technology Industry have established their branches in India for long times. Large IT outsourcing companies from India are competing in the global market. However, the traditions in India have made foreign direct investment and business operation in India very difficult tasks. After the Indian government and business communities in India have made economic reforms, the obstacles have been reduced for business expansion from foreign companies. It is still quite difficult though because of the significant different social and culture environment in India. It requires a large amount of changes on the business operation format before foreign companies can start the business expansion. DISCUSSION: ECONOMIC, SOCIAL AND CULTURAL ISSUES ECONOMIC FACTORS: BUSINESS EXPANSTION IN INDIA India is a developing country with the second largest population. It economic model is market economy. From 1997 to 2011, the Gross Domestic Product (GDP) of India has grown with the average about 7% per year (South, n.d.). India economy are very diverse from traditional local farming to modern international IT outsourcing companies. Even though a large part of the population are still working in agriculture industry, most of the recent economic comes from the serviceShow MoreRelatedStp Analysis of Unilever7427 Words   |  30 PagesAnalysis of Lux | 28-29 | 14. | Competitor Analysis Lux | 30 | Introduction: Unilever is a British–Dutch multinational consumer goods company. Its products include foods, beverages, cleaning agents and personal care products. 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