22 November 2008 E-MAIL SEARCH Home Page Newsroom From the Top Business Buzz Marketing Mix Financial Focus Management Matters PR Points Web Wisdom Industry Reports Business Glossary Resources U.S. Gov. Resources      Introducing India   The popular perception in Israel about India is that of a struggling third-world country which, on one hand, is often ravaged by natural calamities, and on the other hand, is impoverished by its huge population. Shalini Elassery, founder and CEO of Meivia International, describes the realities of this ancient-modern marketplace. The impression of India painted in colorful hues by young Israelis, who on a quest of self-discovery, spend months braving the "Indian" way of life in the foothills of the Himalayas or on the warm beaches of Goa. In fact, however, numbers speak volumes: the Indian GDP at $481 billion is the 12th largest economy in the world. In terms of purchasing power parity (PPP), the Indian economy is actually the 4th largest in the world! In the sluggish global economy India is expected to record well over 6% growth in the current fiscal year. India today is one of the largest food grain producers in the world and is a leading producer of milk, fruits, and vegetables. The country has a broad-based and diversified industrial sector that is coupled with a strong and modern financial infrastructure, but what gives India its true edge today is an educational system that produces a large pool of talented, high-quality human resources. The Business Opportunity India Fast Facts Capital: New Delhi Divisions: 28 states and 7 territories Population: 1.05 billion Median age: 24 Government type: federal republic with a prime minister and two-house parliament (Council of States with 250 members and People's Assembly with 545 members) Languages: English, Hindi (national language), and 14 other official languages Currency: Indian rupee (INR) Area: 33.4 million km² (roughly more than 1/3 the size of the United States) Irrigated land: 590,000 m² GDP (PPP): $2.66 trillion (2002 est.) Per capita income: about $2,500 (2002 est.) Natural resources: bauxite, coal, diamonds, iron, limestone, natural gas, petroleum, titanium ore Industries: cement, chemicals, food processing, mining, petroleum, software, steel, textiles Source: CIA Factbook The numbers are staggering, the entire population of Israel is less than the population that lives in India's high-tech capital of Bangalore. After the landmark reforms which began in the early 1990s, the Indian economy has really not looked back. In the wake of its growth, the middle class population of India has now reached the quarter of a billion mark, including a significant number who want to live with the comforts of the Western life. This makes India one of the fastest growing consumer markets in the world. Israeli companies in the telecom sector are already realizing the benefits of a presence in India. Most of the large Israeli players are now present in India and have identified India as a key market for their products. Israeli know-how in agritech is also finding a receptive audience amongst the Indian agricultural community, which contributes more than 25% of the GDP and employs nearly two-thirds of the Indian workforce. Since the thrust of the next decade in India is going to be infrastructure enhancement, whether it is in building roads or providing telecom connectivity, there are real opportunities for the Israeli industrialist. Great education, deep rooted traditions, a myriad collection of dialects, languages, subcultures, and religions all add the tapestry that is so indescribably India. A word of caution though for Israelis who come to do business in India. English being the lingua franca of business in India can make the average Israeli-Indian collaboration that much more difficult. The common language allows both sides to pay less attention to different work cultures and assume that the language alone will bridge the gap, but the cross-cultural divide is real and it is beneficial for both sides to look into appropriate training prior to boarding the Tel Aviv-Mumbai flight. Recommended Reading For more information about India: Indian Ministry of External Affairs Shalini Elassery is an Indian who is married to an Israeli. She is the founder and CEO of Meivia International. She and her husband divide their time between Bangalore, India, and Israel. Meivia International is a management consultancy firm that specializes in Indo-Israel Trade. Founded in early 2002, the main aim of the firm is to facilitate bi-directional business between India and Israel. Meivia prides itself on understanding the business cultures of both India and Israel. The firm is well positioned to provide consultancy services to companies in Israel that are considering India either as a center for outsourcing products, solutions and services, or as a potential market. ©2002–2008 Trendlines International Ltd. All rights reserved. Phone: +972.4.958.3323 | postmaster@trendlines.com Directions | Privacy Policy | Site Map This site contains material copyrighted by third parties. 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