Entering into Indian Market

Entering into Indian Market

REASONS FOR ENTERING INTO THE INDIAN MARKET

Economy figures paint India as the fifth biggest consumer market in 2025. These days the Indian working class counts 300 million individuals, similar in size to the whole European Unions market. If the economy will take after the patterns of pre-crisis, the numbers are going to rise.

It has the world's second biggest work power, with roughly 520 million individuals. It is a massive pool of skilled labor, professional administrators and semiskilled and unskilled labor at a similarly direct cost, frequently just a fraction of rates prevailing in developed nations. Though, what happened to numerous organizations that have officially extended in India is that they went there for the expenses, and then stayed for the quality and they are currently contributing for advancement of innovation on a worldwide scale (Startupoverseas.co.uk, 2015).

CONSUMER GOODS

Fast Moving Consumer Goods (FMCG) Industry in India is one of the quickest developing divisions in the Indian economy. At present the FMCG Industry is worth US$ 13.1 billion and it is the 4th biggest in the Indian Economy. The FMCG division has developed at a yearly standard of around 11% of the last decade (Ibef.org, 2015). In the growth of Indian FMCG market the major factor is the middle-income group of urban areas.

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E-COMMERCE

E-commerce has risen as India's new sun-rise industry and is arranged to cross business worth $16 billion before the end of 2015, a joint study by ASSOCHAM-Deloitte said. Web penetration is quickly expanding with around 300 million customers in 2014, he said, including, "The smartphone is consistently developing and comprises of 35% of the general cellular market in the nation.'' (The Times Of India, 2015)

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GROWTH DRIVERS OF AUTOMOBILES

• Passenger vehicles are to expand at a CAGR (Compound Annual Growth Rate) of 16% between 2013-20.
• Two-wheelers and three-wheelers are estimated to inflate at a CAGR of 9% between 2013-20.
• The availability of a rangeof vehicle models meets various kinds of needs and choices. (MakeInIndia.com, 2015)

REFERENCES

• Business.mapsofindia.com, (2015). Fast Moving Consumer Goods (FMCG) Industry in India. [online] Available at: http://business.mapsofindia.com/fmcg/ [Accessed 13 May 2015].

• Ibef.org, (2015). Indian FMCG Industry Analysis. [online] Available at: http://www.ibef.org/industry/fmcg-presentation [Accessed 13 May 2015].

• Makeinindia.com, (2015). AUTOMOBILES | MAKE IN INDIA. [online] Available at: http://makeinindia.com/sector/automobiles/ [Accessed 13 May 2015].

• Startupoverseas.co.uk, (2015). Entering the Market in India : Startup Overseas. [online] Available at: http://www.startupoverseas.co.uk/expanding-a-business-in-india/entering-the-market.html [Accessed 13 May 2015].

• Statista, (2015). India: B2C e-commerce sales 2016 | Statistic. [online] Available at: http://www.statista.com/statistics/280923/b2c-e-commerce-sales-in-india/ [Accessed 13 May 2015].

• The Times of India, (2015). E-commerce market to touch $16 billion in India this year - The Times of India. [online] Available at: http://timesofindia.indiatimes.com/tech/tech-news/E-commerce-market-to-touch-16-billion-in-India-this-year/articleshow/46864759.cms [Accessed 13 May 2015].