Christopher Columbus wanted to find India not to conquer but to trade. He desired to cut off the middleman and to directly trade in the valuable spices, fine cloth, gold and diamonds that originated from the Indian shores. This was back when India was one of the two largest economies in the world.
Fast forward to now and the Indian economy continues its rapid ascent back towards the upper echelons of global economies. Even though it is the fifth largest economy in the world, the country retains the title of the fastest growing economy in the world.
This growth will continue unabated per observers thanks to India’s growing consumer classes, continued expenditure on infrastructure and the overwhelming desire of a billion people to improve their standards of living.
A strengthening dollar makes the case of setting up Indian operations even stronger, as do current wage standards which are low by most global standards. It can be summarized that the Indian economy makes a compelling case as a global manufacturing and services hub. It is a no brainer therefore that any business looking to grow over the next decades should be looking at INDIA as either a market, a manufacturer or as a service supplier. There is a new generation of Columbuses trying to seek Indian shores, some will succeed and some may not. Here is how you can stop navigating in the dark and set up your operations in India.