For those who are considering tapping into the Indian marketplace, the author offers an update on the country's diverse population, its technological advances and its overall potential for marketers.
India is a country which has a rich heritage. In the rich tapestry that is India, there
* Areas of Growth in India
There is a virtual marketing boom to meet the new demands in the consumer field. The major areas where the growth is greatest include the financial services, credit cards, automobiles, engineering and industrial sectors, home appliances, entertainment products and food commodities. In addition consumer durable and non-durable goods, packaging, communication and hi-tech electronics, agriculture, power/energy, water purification and hygiene products, hospitality, travel and holiday packages and fashion sectors are also experiencing major growth. These areas seemingly have captivated the marketplace due to tremendous demands from consumers. Past problems like the heavy custom duties, import duties, personal and corporate taxes have all been rationalized and are comparable with the rest of the world.
A trend towards a quality-conscious culture is blossoming in India. Marketers have been attracted by a dream figure of a middle class market of over 200 million Indians. With the presence of multinationals and the influx of many more, there is a welcome invitation for foreign investments. India promises to be not just a big market, but a great market, too. Being an English speaking nation, India is in line for most of the countries in the world to do business with.