A Passage to India

India has the largest population in the world, over 1.4 billion, providing a massive market for businesses to tap into. The Indian economy has been growing rapidly in recent years, with a growth rate of over 7% per year, and a projected GDP growth rate of 6.3% in 2023. This growth has been driven by various factors, including increased foreign investment, improved infrastructure, and a growing middle class. India's young population is another critical factor contributing to the country's economic success. With a median age of around 28 years, India has one of the youngest populations globally, providing a vast pool of young, educated, and skilled workers for businesses to leverage.

The "Made in India" campaign, launched by the Indian government in 2014, along with the massive investments in industry critical infrastructure for transportation and energy generation, has played a significant role in promoting domestic manufacturing and boosting the economy. The campaign aims to make India a global manufacturing hub by encouraging both Indian and foreign companies, like Samsung, Apple, and Xiaomi, to invest in manufacturing in India and creating jobs for the local population. This initiative has also supported the growth of small and medium-sized enterprises (SMEs) in India, which has had a significant impact on job creation in the country.

Overall, the Indian economy's large population, rapid growth, young workforce, and initiatives such as the "Made in India" campaign, coupled with a projected GDP growth rate of 6.3% in 2023, make it an attractive market for businesses looking to expand their customer base and explore new opportunities.