Five reasons why you should start a business in India
Known to be the second most populated country after China, India is the most diverse country in the world and one of the fastest emerging economies in the Eastern hemisphere. Its growing working class population, which is almost half of the entire population, has an increasing amount of disposable income. India, one of the fastest growing economies in the present world is a great country to invest in. So let’s see why you’d get your money’s worth if not more!
- Look at our numbers! (not just the population)
India has a promising future for business in IT and medical industry. We have an inside joke that says “if you throw a stone in a crowded Indian market, it will definitely hit a doctor or an engineer”. Increasing GDP per capita that is currently at $1974.76, rapidly growing population of 1.17% and annual rate of urbanization of 2.28% hold promising prospects for the growth of businesses in India
2. Ours is a youthful nation
The median age is 27.9 years according to the census report in India. Imagine how it would be to work with that kind of energy and potential. Well also you’d be the reason for a family to make money and lead a happier life. India is a growing nation of startups founded by the impressive youth of the country. Find a startup and invest in it, get your profits back in no time. Just remember to pick a startup whose interests align with yours.
3. Its cheaper than you’d imagine!
Since the cost of living in India is cheaper compared to the US, everything you convert from dollars seems cheaper in India. Buying land, machinery and equipment or spending on the cost of labor, everything is cheaper in India. Low costs and high returns-ideal, isn’t it? So why would you not start a business already?
4. More Spending Power
Being a part of a diverse country, Indians are adaptable to technology, to change in general, and we love to spend, on everything! Every time an iPhone is released in India, we buy it. Come on, we all know no two consecutively released iPhones are not significantly different in their features but are in prices. We still buy it. A new smartwatch in the market, we buy it. A fancy tablet, we buy it. Lets give some credit to the improving lifestyle of the highly populated middle class of the country with increasing disposable income. Why not just make the most of it?
5. We speak English
Our first language is English. Most of the schools in India teach in English. Unlike in other countries in Asia, you will not have a problem with communication and putting your point across. Also, finding the target market and marketing your product/service to them would be a cake walk! There is a very less probability to make marketing mistakes and hurt your revenue. Translator, who’s that?
Even though there are many downsides of a growing economy, the advantages of starting a business India outweigh the disadvantages. If you’re ready to take a little risk for greater returns, why not choose a safer bet: Incredible India.
Thank you and Namaste.