The facts and figures on the world’s second largest country
Capital: New Delhi
Labor force: 482 million (2nd in world)
Median age: 26.7
Time difference: UTC+5.5 (10.5 hours ahead of Washington, D.C., during Standard Time)
Currency: Indian rupee (at press time the conversion rate was 1 rupee to .016 U.S. dollar)
GDP: $4.716 Trillion (2012 estimate)
Franchise market: Predicted to reach $20 billion by 2020 (growth rate is 30 percent a year)
No. of franchises: 1,200 (25 percent are international)
Regulation: There is no franchise-specific legislation or regulations
Government: Federal Republic
Middle class: 250 million( McKinsey & Co. estimates 583 million by 2025 (41% of the population)
Urban population: 31%
Internet usage: 243 million by June 2014, estimated by the Internet Mobile Association of India, which would bump the U.S. out of second place. China has the most Internet users.
Franchise Association: Indian Franchise Association (www.franchiseindia.org) and Franchising Association of India (Franchise Business India)
Major cities (city to start in): New Delhi, Mumbai, Bangalore, Hyderabad and Chennai
Transportation: 346 airports (93 without paved runway); railways and multiple ports of entry. Roads are shared by Mercedes, scooters and the occasional camel-drawn cart.
Supply chain: Still some challenges, especially in food segment
Bordered by: Pakistan, China, Nepal, Bangladesh, Bhutan, Burma
Visa: Required before landing in India (Also an international driver’s license if you plan on driving there).
Immunizations: Tetanus, typhoid, hepatitis A&B. Start anti-malarial tablets
Main sectors: food and beverages, hospitality, retail, beauty and health care and education
Challenges: Corruption, strict governmental regulations on business, poverty, discrimination against women and girls and lagging infrastructure.
No. of U.S. Commercial Service offices: 7
Ease of doing business: 132 out 185, according to World Bank’s ranking
There’s a New Delhi with wide avenues, Colonial mansions from the 1930s and modern government buildings, and an old Delhi, referred to as just Delhi, where you’ll find the crowded, colorful marketplaces and monuments from the 16th century.
The International Franchise Association, Franchise Times and the U.S. Commercial Service’s certified trade mission is heading to three cities in India later this year.
All three cities (the two pointed out here, plus New Delhi above) are the largest cities in India.
Mumbai is the wealthiest city in India and is considered the entertainment and commercial capital of the country. It is also home to Bollywood, India’s answer to the U.S.’s Hollywood movie industry.
Bangalore is known as the “Silicon Valley of India” because of its role as the leading Information Technology (IT) exporter.