India market remains an attractive investment destination

7 April 2017 - India continues to be an attractive market with its GDP purchasing power parity per capita increasing by 41 percent in the last five years. India is not only the one of the fastest growing economies also the seventh largest in the world.

“It is very clear that India has plans for growth judging from the Indian budget. India’s good infrastructure is the basis for growth,” said Mr Benjamin Yap, Group Director, South East Asia Group, IE Singapore, who was referring to India’s digital and electronic manufacturing.

With India opening up its market in recent years, the necessity of using ecommerce or digital payment will speed up processes which will translate to the ease of doing business in India. For example, visa applications can be taken online and results of the application can be viewed easily. Also, with a huge focus on electronics due to an increase in demand for mobile phones and automobiles, businesses will be able to find opportunities in these sectors.

One participant, Mr George Abraham, Chairman & Managing Director of The GA Group Pte Ltd said, “In spite of the difficulties of today’s economy, India holds a lot of potential especially in the manufacturing and manufacturing-related industries. Food processing and precision engineering are some of the best industries for businesses to take their production there.”

Advise for businesses exploring India as a potential location for business expansion:
1. Familiarise yourself with the Indian market through seminars
2. Gain first-hand understanding of the Indian market through mission trips
3. Start with one location as the entry point
4. Gain deep knowledge of local business norms and culture

For more information on business expansion to India, please contact Ms Cecilia Tham at ceciliatham@smfederation.org.sg or Mr Gabriel Tan at gabriel.tan@smfederation.org.sg

SMF organised this seminar for businesses looking for business expansion opportunities in India to learn more about this market from a panel of guest speakers. The event drew a crowd of approximately 100 business owners on 7 April 2017.