This chapter provides insights into the Indian socio-cultural, historical, political and economic context. It highlights the uniqueness of the socio-cultural, political and economic issues that foreign investors need to carefully understand when doing business in India. The chapter addresses some of the tremendous strengths and related opportunities that are available in the Indian business landscape. These include cheap resources, a pool of reasonably skilled talent, a massive national market, a rapidly growing middle class with increasingly stronger purchasing power, and one of the youngest populations in the world. Most aspects of the Indian economic model are strongly ingrained into the unique socio-cultural, political, legal and economic milieu of India; as a result, the challenges regarding developing a good understanding of the Indian business context and how to successfully operate in it can be both complex and demanding for foreign investors. The chapter also presents an overview of the key concepts discussed in this book.
|Title of host publication||Indian Business|
|Subtitle of host publication||Understanding a Rapidly Emerging Economy|
|Editors||Pawan Budhwar, Arup Varma, Rajesh Kumar|
|Number of pages||9|
|Publication status||Published - 19 Jun 2019|