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Episode 28 - The India Country Review With Swatick Majumdar (Special Episode)
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Swatick breaks it all down in this special episode about the country of India.
Strong economic indicators
- India is the fourth largest economy in terms of purchasing power parity
- The nation’s GDP is expected to grow by over 8.5 percent in 2010-2011
- Liberal and transparent foreign investment regime
- Well developed banking system and vibrant capital market
- Strong and independent judicial system
- Among the highest rates of returns on investment
Incredible human capital skills
- A strong pool of scientific and technical manpower from such places as the India Institute of Technology and the India Institute of Management
- Over 255 of Fortune 500 companies getting services from India
- Second largest English-speaking population in the world
- Abundant, high-quality, cost-effective, competitive manpower. Over 100,000 IT professionals added each year
- IT Industry over US$14 billion and growing at 50 percent per year
Pervasive entrepreneurial spirit
- Prevalence of foreign technology licensing: Ranked 1st in the world
- Availability of scientists and engineers: Ranked 2nd
- Quality of management schools: Ranked 9th
- Firm-level innovation: Ranked 12th
- Firm-level technology absorption: Ranked 16th
Easy industrial licensing policy
- Under the Industries (Development and Regulation) Act of 1951, an industrial license is only needed for items that fall under compulsory licensing, are reserved for the small-scale sector, or in a location that is restricted
- All industries exempt from industrial licensing are required to file an Industrial Entrepreneur Memorandum
- No approval is required, only notification needed
- Financial sector reform
- Stable tax regime; only three rates of indirect tax and trade facilitation measures have been introduced
- The Foreign Exchange Management Act, of 1999 provides a liberal regime; forex procedures are straightforward
- Stocks can be sold on without prior approval
- Profits, dividends, and capital investment can be repatriated
- Royalties can be paid by wholly owned subsidiaries to parent companies
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