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India Country Profile

India is the world's sixth largest economy with a GDP of USD 3.1 trillion. The country has one of the highest GDP growth rates in the world and is estimated to grow by 8-8.5% in FY 2022, according to the World Economic Outlook 2021-22 by IMF.

India is the world's 6th largest economy with a GDP of $3.1 trillion. The country has one of the highest GDP growth rates in the world and is estimated to grow by 8-8.5% in FY22, according to the World Economic Outlook 2021-22 by IMF.

Key Features of the Indian Market

  • India is the 7th largest country in the world with a population of nearly 1.3 billion.
  • It is the world’s largest democracy with 28 states and 8 union territories.
  • It has 23 official languages, but English is common business language.
  • India is the 5th largest economy in the world with a GDP of US $ 3.25   trillion. The composition of its GDP  is Agriculture 18 %, Industry 28 %, and Services 54 %.
  • India is projected to grow at 6.8% in 2022-23, following 8.7% growth in the 2021-22  as per e IMF Report 2022.
  • The government has initiated a series of reforms in industrial, banking and administrative sectors to attract foreign companies and investors and improve ease of doing business in India.
  • India has also embarked on a major self sustainable programs such as  ‘Self Reliant India’ , ‘Make in India’ and ‘Digital India’ providing major incentives to foreign companies to come and manufacture in India.
  • The sunshine sectors are infrastructure, telecom, automobiles, pharmaceuticals, biotech, renewable energy, retail, e commerce and defence.
  • India is known for entrepreneurial skills and is home to largest unicorn startups.
  • In the aftermath of pandemic and Ukraine war, India has emerged as one of the most attractive destination for Asia ex China.

SWOT Analysis India

Strengths

  • Large market with population of more than 1.3 billion
  • Growing economy with strong fundamentals
  • Reforms initiated to ensure ease of doing business in key sectors
  • Government backed programmes ‘Make in India’,  ‘Digital India’ and ‘Self Reliant India’ launched with incentives
  • Large English speaking population

Weaknesses

  • Bureaucracy – Complicated rules, regulations and restrictions
  • Certain level of Corruption
  • Inequitable distribution of wealth

Opportunities

  • High absorption of technology and prevalence of best practices
  • Cheap, educated and hard working labour
  • Productivity linked incentives by the government
  • Opportunity to make India as a manufacturing and export hub

Threats

  •  Huge competition, every known company in the world is here
  • Non-adherence to time schedules
  • Cultural, religious, seasonal differences across the nation

Our Experience

  • More than a decade of experience in executing projects in many sectors.
  • Alliance with Indian partners in all industry areas as well as corporate services.
  • Representation of Nordic countries’ companies acting as Board member and for business development.

Our Reach

  • Vast network among government, corporate, and European trade and business development agencies such as Business Finland, Enterprise Estonia and Swiss Business Hub.
  • Industry especially in Education Technology, Food & Beverage, Pharma/Medical, ICT, Automobile components, Retail business, E-Commerce, and Defence.

Our Core Services

  • Market Research
  • Market Entry
  • Market Expansion
  • Corporate Representation 
  • Sourcing
Partner – India

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