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Essay / Doing Business in India - 1594
Selected Question: • Select a country of interest to you and discuss and analyze the political, economic and legal characteristics of that country, as well as the implications for doing business there. (Chapter 2) INTRODUCTION The exchange of goods and services between countries or simply international trade is a direct impact of globalization. In recent business developments, conducting international business has become a common but complex business strategy. No country in the world is completely self-sufficient. In order to overcome these imperfections, companies must find countries that can fill their gaps. For this purpose, a PEST analysis is carried out in the selected country in certain areas including political, economic and legal to start a medium-scale business. India is a developing country in the Asia region which also belongs to the BRIC countries. India is in a phase of rapid growth and is entering into several international agreements and maintaining relations with other countries. When it comes to a place to do business, India has provided a clear and smooth path for investors. As a general aspect to consider when choosing a country to do business, India's current business environment and procedures have encouraged investors to look to India and take a look an eye on its commercial environment. This study of India would enhance knowledge and provide clear and specific India experience on conducting international business platforms. SOCIAL and CULTURAL OVERVIEW of India India is the seventh largest country in the world. It is a republican country in South Asia. The climate of India is considered to be classified as tropical monsoon in southern India and moderate temperature in ...... middle of paper ...... Indian market for starting business. India has many different religions, skin colors, languages and India also has an abundance of highly skilled labor. According to the analysis and study, India will be a good market opportunity to start new business in this country. The Indian legal system also creates an excellent platform for pursuing new businesses. Most countries cannot produce goods themselves, enjoy cost advantages, cope with globalization, etc. considering political, economic and legal aspects. India has the vigor to provide these facilities. Besides the positive aspects, there are also weaknesses and threats. India is a rapidly developing country and investing in India carries less risk than in other emerging countries of the world. Finally, India's young population and growing economic power promise to attract foreign companies in the decades to come..