India as an emerging market

Courtesy: http://timesofap.com/
Courtesy: http://timesofap.com/

TEM club organized a meeting for its members with Prof. Kannan Ramaswamy and an alumnus from May 2014 batch, Rahul Garg, who is currently working for Target Corporation, to discuss about India as an emerging market. Inspired by the winterim in India with Prof. Dash, Rahul did his internship in Bharti Walmart. Brought up in America, he looked at this as an opportunity to study the cultural differences in his home land. He found the people to be bureaucratic and inefficient at getting things done. He also observed that the mindset of the younger generation is different and is a positive change. Patience was of ultimate importance and things had to be done there strategically.

When questioned about foreign investments in India, Prof. Ramaswamy said that it has been steadily improving after the 1991 reforms and the upcoming 2014 elections will play a pivotal role in the development of India. Though there are plenty of opportunities, the country suffers from political and language barriers. Despite these short comings, the economic growth of the country is constantly progressing. The distribution of wealth is quite contrasting and is attributed to high corruption prevalent in India. Venturing of U.S and other multinational companies can improve the situation by tracking money.

The companies can also be benefited by venturing into the Indian market. Indians are known for their innovative ideas and will contribute to developing the overall business. Since it is still a developing country, the company can be cost effective for both labor and raw-materials. India is also a potential market due to its very high population. He ended the meeting by saying that Indians studying at a global environment are expected to have a bright future in India because of their understanding of the culture and international exposure.

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