Here are a number of reasons as to why you should not expand your business to India:
● The Indian economy has a GDP of 9%, but at the same time, it has an inflation rate of 8-10%. There is a growing gap between demand and supply.
● India, despite its enormous manpower, is facing a shortage of qualified skilled professionals due to lack of adequate public education system. The wage rates, hence, are going higher and higher eroding the cost advantage that has served India for many decades.
● Expanding your business in India means facing different cultures and languages, different business etiquettes and practices.
● India is a very corrupted country.
● India has the largest child labour force in the world.
● India continues to face the challenges of poverty, illiteracy, corruption, malnutrition, inadequate public healthcare, and terrorism.
● This country is also home to the largest number of poor people worldwide – There are at least 300 million people living in extreme poverty in India, this means they are living on less than a dollar a day.
● Logistics in India are very difficult.
● India’s customs, tariffs and taxation processes are very confusing and complex.
● Problems with the country's roads, railroads, ports, airports, education, power grid, and telecommunications are obstacles for India's economy to grow to its full potential, and they may become challenges for your business plan.
● India, despite its enormous manpower, is facing a shortage of qualified skilled professionals due to lack of adequate public education system. The wage rates, hence, are going higher and higher eroding the cost advantage that has served India for many decades.
● Expanding your business in India means facing different cultures and languages, different business etiquettes and practices.
● India is a very corrupted country.
● India has the largest child labour force in the world.
● India continues to face the challenges of poverty, illiteracy, corruption, malnutrition, inadequate public healthcare, and terrorism.
● This country is also home to the largest number of poor people worldwide – There are at least 300 million people living in extreme poverty in India, this means they are living on less than a dollar a day.
● Logistics in India are very difficult.
● India’s customs, tariffs and taxation processes are very confusing and complex.
● Problems with the country's roads, railroads, ports, airports, education, power grid, and telecommunications are obstacles for India's economy to grow to its full potential, and they may become challenges for your business plan.