Ignore the Alarmist Headlines: The India Growth Story & Opportunity Continues
Businesses Need to Think Long-term when it comes to India
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 06/14/12 -- In the global context, the recent announcement that India's growth rate has fallen to 5.3% isn't that dramatic. Among the BRIC countries, both Brazil and Russia are posting lower growth. China still leads the pack, primarily because their economy received much greater government stimulus.
But, this is the lowest growth rate that India has seen in the past seven years and that combined with the drop in the rupee and a stubborn budget deficit, has prompted many in the Indian and international press to declare an end to India's impressive growth story.
That is not the case. The fundamentals that have underpinned the past decade's 7% percent average growth are still intact.
"Has India's bubble burst? Hopefully yes, in the positive sense that inflated projections of future growth have been replaced with more realistic expectations - after all, very few major economies have enjoyed continuous straight line growth. India should not be measured merely in terms of short term growth. It is a long term value investment", says Peter Sutherland, Vice-Chairman, at the Canada-India Business Council and Senior Advisor, Asia, Aird & Berlis.
Canadian companies and investors should confidently and proactively continue with their long-term strategies in India. Here's why:
India continues to be an indispensable part of any global business strategy. Moreover, for businesses not yet in India, or looking to expand, now is the time. The lowered rupee means that market entry is cheap and assets are undervalued.
"India is one of the economies of scale of the 21st century. It's an important export market and an even more important experimental hotbed for innovation. Growth is being driven from the bottom up (despite government) and increasingly, from the regions, many of which are growing faster than the national average. The upside for Canadian companies looking to crack the Indian market is its sheer size, regional variation and competitive nature. Markets for products and services that fly well under the radar in a country as populated as India can be game-changers for Canadian companies. Canadian companies need to be in India, learning alongside Indian companies as they grow and innovate. Building these relationships and links is essential to securing our prosperity in the coming decades", adds Rana Sarkar, President & CEO of the Canada India Business Council.
About The Canada India Business Council: The Canada-India Business Council (C-IBC) was founded in 1982 by the Bank of Nova Scotia, Bombardier and the late Thomas Bata. For almost 30 years, C-IBC has been the leading, bi-national member driven association dedicated to the sustained growth of trade, investment and services between Canada and India. C-IBC works to assist Canadian corporations by offering knowledge, experience and insight on bilateral trade and investment opportunities. With over 100 members, the C-IBC represents the leading companies in the Canada-India business corridor.
C-IBC is governed nationally by a Board of Directors which is comprised of senior executives from Canada's leading organizations as well as leaders from both small and medium-sized enterprises.
C-IBC is headquartered in Toronto with operations in Delhi, Vancouver and Montreal.
For more information, please see: .
Contacts:
To arrange an interview with either Rana Sarkar or
Peter Sutherland or for additional information on the
material above, contact: The Canada-India Business Council
Emily Hamilton, Communications & Research Coordinator
416-214-5947 x26
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Datum: 14.06.2012 - 09:41 Uhr
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