Sub-subject: The Economy of India. Indian International Trade. Industry. Automotive. Syllabus:
Businesspeople and Indian companies
Sample of the Sub-subject: Economy of India:
Sub-Subject Description (Economy of India):
Indeed, the rise of the young Indian urban consumer has been a characteristic of economic transformation of India. In their mid-twenties, members of this segment do not think twice before spending on expensive global brands. They are comfortable buying on credit, have purchased a house and a car, something their parents could never have dreamt of doing in their youth. The house is an investment for them and the car an indulgence.
Indian industrial sector majorly consisting of heavy and light engineering, steel, automotive, biotechnology, drugs and pharmaceuticals, food processing, mines and minerals, and fertilizers.
India has established a robust and diversified manufacturing base for production of a broad variety of basic and capital products to meet the requisites of various sectors including heavy electrical, power generation and transmission, process equipment, cars, ships, aircraft, mining, chemicals, and petroleum. The industrial sector recorded a healthy growth of 10.3%
Automotive, being one of the biggest industries, facilitates the improvement in various infrastructure facilities like power, rail and road transport. India is the second largest manufacturer of two wheelers in the World, the fifth-biggest manufacturer of commercial vehicles as well as the biggest manufacturer of tractors.
India is the fourth biggest passenger car market in Asia as well as a home to the biggest motorcycle manufacturer.
Over the years, the engineering industries, both light and heavy engineering, have registered an impressive growth rate and are having a strong base in the production of various capital and consumer durable products.
Biotechnology is among the fast growing knowledge-based industrial sectors, which have the immense potential to revolutionise agriculture, healthcare, industrial processing and environmental sustainability. Indian biotechnology segment has been making quick steps on the global platform. There are numerous therapeutic biotechnology drugs and vaccines, being produced and marketed in India and helping humanity enormously. The sector registered a revenue of 1.07 billion dollars and recorded a 36.55% growth.
Drugs and pharmaceutical are another important industry showing significant progress over the years. It is one of the biggest and most advanced sectors in the World, acting as a source for various drugs, medicines, and their intermediates as well as other pharmaceutical formulations. Being the intensive knowledge-driven industry; it offers innumerable business opportunities for the investors/ corporate the world over. India is one of the leading global players in pharmaceuticals.
Indian food processing industry is one of the biggest in the World regarding the production, consumption, export, and growth forecasts.
The Telecommunication network of India is the third largest in the World and the second biggest among the emerging economies in Asia.
India is also among the fastest growing telecom markets in the World. Indian telecom industry manufactures a complete range of telecom equipment using the state-of-the-art technologies intended specifically to match the different terrain and climatic conditions.
India is the sixth biggest energy consumer in the World accounting for 3.5% of the total annual energy consumption in the World. India is the eighth biggest crude steel producing nation in the World.
Indian cement industry is greatly energy intensive and is the third larger user of coal in India. It is modern and uses the latest technology, which is among the best in the World. India is the second biggest manufacturer of cement in the World.
Indian software and services (IT services) industry has been moving up the value chain, giving India a formidable brand equity in the global markets. Business Process Outsourcing sector has emerged as a key driver of growth for the Indian software and services industry.
“Bollywood” is the name for the typical Indian cinema industry. The name Bollywood Comes as a reference to Hollywood but with the initial “B” for Bombay (Mumbai), the place in India for cinema productions of the same importance.
The number of films produced in India is the biggest in the World.
India has a vibrant micro and small enterprise sector that plays a significant function in sustaining the economic growth, by contributing around 39% to the manufacturing production and 34% to the exports.
India is the second biggest employer of human resources after agriculture, providing employment to 30 millions of people in the rural and urban areas of India.