Looking to start a business in India? The country is emerging as one of the top tier business destinations for global businesses. It has emerged as a profitable destination for businesses, thanks to its economy and potential. There is ample scope for entrepreneurs to make substantial profits when they look to venture into this country. Here are 5 things you should know about starting a business in India.
This country has some of the finest and most promising conglomerates in the world. Top most corporate houses from across the globe to invest in India due to the country’s unparalleled growth potential and favorable environment. However, despite the current popularity, there are still many challenges to overcome for new business ventures. Indian market is highly competitive; hence, investors and entrepreneurs must look out for companies that can effectively exploit this market. Successful companies in this segment of the market have already established their reputation in this country.
India is home to some of the biggest brands in the world. For this reason, when investing in this country, it is crucial for investors and entrepreneurs to look out for such reputed names in the market. There is no better place than India to showcase a brand or a company’s product. As per Research Bureau of India (RBI) estimates, the Indian market is second only to China in terms of size of its retail market. With an estimated market size of more than 600 million, this is the largest market in the world.
As per the latest stats available, foreign direct investment (FDI) in India is at its all time high. Investors and companies looking to start a business in India should make sure that the location they are choosing suits their business needs. As per a research conducted by IDP Solutions Pvt Ltd, in the year 2021, direct investment in the Indian market was $ 33.5 billion. This means that if you were to look into the details, you would be able to find several opportunities in the market.
So how should one begin to look into the details? Looking into this question first, you need to understand what the market trends are like. When it comes to choosing the location of your manufacturing unit, investors and companies looking to invest in India have two main options – the states of Rajasthan and Gujarat. These two states feature various industries that are making use of the state-of-the-art technologies in order to improve their marketability.
According to a recent research report, Mumbai is one of the most lucrative cities in India for starting a business. The reason behind this is its growing connectivity with different parts of the country. Besides, Mumbai also boasts of a thriving real estate market. However, when it comes to marketability and investment viability, no one can match up to the durability of Gujarat. This is because almost all leading companies across the world as well as leading players in the Indian market are manufacturing their products in the state. This is because Gujarat has consistently retained its rank as the topmost manufacturing hub in the whole of India.
There are plenty of reasons why companies looking to invest in India should prefer to do business in Gujarat. First, investors and companies looking to invest in India should take into consideration the above factors. Moreover, the presence of the Haryana State and the Chandrabhaga region in the backdrop plays a major role. The proximity of the airbase and the railway stations of Delhi as well as the industrial production centres in Ahmedabad play a crucial role in the increasing marketability of Gujarat. And finally, the state government’s liberal economic policies play a significant role in this regard.
The rates of property in Gujarat are very competitive. Furthermore, the state’s safe and conducive atmosphere ensures a comfortable working environment. The above mentioned points clearly define why this small yet beautiful state should be one of the top choices for investors and companies when it comes to investing in India. It is certainly going to give you nothing but good results!