In this episode of Asia In Focus, Angela Mancini, Partner, speaks with Khalid Shah, Analyst, about how businesses operating in India can prepare for the future.
India is often regarded as sitting in a geopolitical sweet spot. The country is seen as a rising power on the global stage as well as an ally to several Western states. All eyes will be on the country in April and May 2024 as India heads to the polls in its upcoming general election, which will see 900 million people cast their votes. While no surprises are expected, the outcome will set the tone and direction for businesses operating in India for the next 5 years.
But the general election will likely not derail India’s growth agenda. India’s Vision 2047 document, expected to be formally unveiled this year, will lay out a path to elevate India’s economy from a gross domestic product of USD 3.4 trillion to USD 30 trillion by 2047. Alongside incentives to drive investment and the opportunities that come with a large, aspirational consumer market, businesses should also expect inefficiencies and obstacles to doing business; myriad climate challenges; a massive digital infrastructure vulnerable to threat actors; and all the complexity of centre / state, regional, and social challenges.
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