India is becoming increasingly dominant economically

May 26, 2017 | Emerging Trends

India has performed consistently well over the last decade or more and has now become one of the major players on the world economic stage. The country has also become more dominant with other countries, the UK being a prime example, looking to forge strong business and trade links. The country is fast becoming an economic superpower and on the face of it at least, looks to be encouraging greater involvement and stronger ties with other countries, not just in the region but around the world.

To truly gain an idea of how far India has come it is well worth looking at the number of billionaires that India has. Creating on average one new billionaire a month, the country is now ranked fourth when it comes to having the most billionaires behind the US, China and Germany. 69% of the billionaires are self-made and this puts into perspective the country’s and its peoples’ aspirations. This is a country that is thriving and made up of entrepreneurs and budding entrepreneurs who are prepared to listen, take risks and accept help from others to get to where they want to be. It is not surprising then that other countries are keen to build trade links.

 

One of the areas that India is proving to be hugely successful in is with start-up companies of which they are experiencing a boom. The start-up companies cover a range of different industries but the stand out success seems to be tech start-up companies, for which the country is ranked third globally. This is an extremely hard market and there are certain barriers to entry but that doesn’t appear to have slowed the Indian bandwagon as they look to increase their dominance across a wide range of industrial sectors. Indeed, they are aiming for 2,100 tech start-ups by 2020 which will only strengthen their position.

A major factor in India’s dominance is the fact they are actively encouraging overseas investment and help. They are keen to learn from others, using their experiences to help strengthen their own position. Huge investment has come from companies such as Japan’s Softbank and Taiwanese company Foxconn are committed to investing $20 billion dollars in India along with a further $2 billion commitment from energy giant EDF who are helping the country to become less dependent on fossil fuels and move more towards renewable energy sources.

Generally speaking, India has approached the situation in a co-operative manner and the fact that they encourage overseas investment is something that should be applauded. Unlike many others in the region, India has appreciated the need for foreign assistance in exchange for incentives for business. The more you read and the more you experience it for yourself, the more obvious it is that India is on the up and certainly becoming more economically dominant and an attractive business partner for other countries and businesses.

It seems obvious that it won’t be too long before private individuals look to invest in the country. At the moment that tends to be in businesses or from a distance through various funds, but direct investment must be coming soon. The real estate industry surely must be expecting a boom sometime soon with investors looking to get a foothold and really make the most of any opportunities that present themselves. As with all dominant economies, real estate is something that plays an increasingly prominent role the more successful a country becomes.

India has made huge strides in relatively short period but it would only be the foolish that wouldn’t recognise how successful the country has become and how strong their economy is. Investors must surely be starting to take an even greater interest than they were just a few years ago. India’s future is bright and their dominance will unquestionably only increase.

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