India a Long-Term Bet to Ride High
India is still a tricky place to do business. Many prefer to see it as a long-term bet which will ride high on a highly connected Indian diaspora and a number of very progressive business leaders. The current government has certainly big ambitions. It is aiming to double India’s exports of goods to $900 billion a year by 2020 and is using its Foreign Trade Policy to integrate government initiatives such as ‘Make in India” and improve India’s share of global trade from 2% to 3.5% by 2020…HSBC sees that the UAE’s growing role as a regional trading hub will make it India’s top export destination by 2030. It makes sense, the UAE and India have strong historical commercial and cultural links.
With 1.3bn people and its growing middle class, little need for military expansion to secure resources and many leading edge service businesses, few doubt that in the end India has the potential to be the world’s #1 economy.