According to the Organisation for Economic Cooperation and Development, India will continue to be the fastest growing economy among the Group of Twenty countries. This 2017 fiscal year, experts see a 7.5 percent growth in the country’s economy. As per the Fitch Ratings Agency, India’s economic boom is propelled by the implementation of the government’s structural reforms, developments in the economic activity, and a much better disposable revenues.
The country’s economic outlook is getting brighter each year. As a matter of fact, India surpassed China in terms of foreign direct investment, thanks to renewable and non-renewable energy projects in the country. Even if the global economy is slowing down, India is still poised to at least an eight percent economic growth.
Profiting from India’s Good Economic Conditions
Multiple business opportunities await prospective local and international investors. For instance, they can put their money directly in Indian corporations. One good thing about this is that less diversification is needed, but requires more time for research.
Investors can also make a venture in the country’s manufacturing sector. Today, several Indian companies are among the most competitive in the world. India has a lot of industrial parks, economic zones, industrial corridors, and investment and manufacturing zones; therefore, putting up your own manufacturing company is easier than ever. The government also offers incentives and initiatives to encourage more investors. There are state incentives, export incentives, R&D incentives, area-based incentives, and deductions available to business owners.
In further promoting the country’s manufacturing sector, the Indian government implemented corporate tax reforms. From 30 percent, the corporate tax rate for companies in the manufacturing industry is now 25 percent of their net income.
India’s Bright Future
By 2030, India is said to be the world’s third largest economy. This will happen if the investor confidence gets better, food prices remain low, and consumer confidence in India stays solid. This being said, the government already started rolling some plans for a better business and investment opportunity in the country. Among these are strengthening the trade and economic ties of India with other countries, the creation of National Investment Grid that will lay out and locate business opportunities in the country, and the acquisition of foreign loans to make better the quality of public services in India.