Indian Enterprises will witness unprecedented growth in next 15 years than in all of human history; but can we really tap in to global markets as leaders?
Venus Barak, President Factor Global consulting quotes: India finds itself in a unique position. Our extraordinary success in the service sector export has opened windows to expand our horizons from not just domestic consumption but to serve and acquire coming up 3 billion middle class consumers located in 70+ emerging and developing economies.
She adds: India should be a torchbearer especially when it comes to service sector globally. Service sector is our sweet spot when it comes to export and this is where we have a chance against china.
We have to integrate the volatility of today’s world in our business growth goals to be able to create a substantial impact in world’s economy in next two decades.
Telecom, Information Technology, Education, Financial, B2B, Health, real estate, Training, Travel and Tourism, alternative energy, agriculture, retail, construction, Automobile, transport, logistics are some of the priority sector witnessing consistent growth.
According to report from CATO Institute: 20 Years of Economic reforms in India
§ India is best known for its computer software exports, but this sector accounts for no more than 2 percent of GDP.
§ Other services exports (legal, engineering, and medical services, R&D) have risen fast and exceeded $10 billion in 2010–11.
§ Exports of autos and engineering goods have soared, reflecting new skills in design and manufacturing. India remains an economy driven mainly by domestic demand, although the export share has risen substantially.
§ India has become the world leader in frugal engineering, a concept that did not exist a decade ago. Frugal engineering is the capacity to design and produce goods that are not just 10–15 percent cheaper than in Western countries but 50–90 percent cheaper yet quality driven.
The primary difference between service and manufacturing is becoming fairly transparent. The revenue chain is not just about the physical content of the product anymore.
The world is becoming flatter as a result of globalization. The exclusive western influence on global economy is already shifting and will shift drastically in next decade. We are no more the next big thing, we have arrived and we are the big thing.
India with its enormous entrepreneurial talent needs to push its boundaries to command leadership in the world economy.
Venus Barak adds: The opportunity and also challenge for us lies in creating an ecosystem that promotes and incentivizes Indian businesses for approaching and expanding business in Global markets. In this both government and enterprise role is crucial.
Ultimately, Top line growth, fresh market access and organizational development are mutually reinforcing. Growth and market access encourage greater investments both from short and long-term perspective.
The events will be held across regions between July – November 2014:
The events will provide much needed platform to share knowledge, market development and exploring synergies between Indian Service Enterprises and the rest of the world.
Currently, there is a huge gap of support structure of skill set, market research, business development, best practices and training for Indian Service Companies when it comes to global business and Factor Global Consulting model is of a global service company that really helps and empowers mid size enterprises primarily in service sector in India to capture the emerging market wave.
About Factor Global Consulting: Factor Global Consulting is a leading international business development and marketing consulting firm that specialize in helping businesses create sustainable growth through successful expansion into global markets.
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