As a location for operational expansion and as an export market, India presents one of the largest economic opportunities in the world. The country's recent investments in infrastructure and logistics management, coupled with its growing skilled workforce, are advantageous to foreign companies looking for trade partnerships. But like many great opportunities, doing business in India also presents some risks.
Boasting a consumer base of 1.3 billion people, India offers a tempting prospect for exporters. The country's flourishing middle class and large population of young people signal years of market growth to come. On top of these demographic trends, India offers a diverse economy and business-focused government initiatives. Many economists predict that the country will someday challenge, or even overtake, China as the unofficial "factory of the world."
India's rapid digitalization is a major contributing factor to its recent economic growth. Today, India has one of the world's largest networks of digital payment interfaces, which is accessible to nearly every segment of the population. The use of cash has decreased, as most business transactions—even at the lowest level—are now conducted digitally. Exporters can tap into this new digital infrastructure to secure payments and expand their sales in India.
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