From high-tech to Bollywood in India
Three equal horizontal bands; saffron represents courage, sacrifice and the spirit of renunciation; white signifies purity and truth; green stands for faith and fertility; the blue chakra symbolizes the wheel of life in movement and death in stagnation.
1.2 billion people and an emerging middle class are just two good reasons for franchisors to take a second look at India. In December, a second franchise trade mission visited Mumbai, New Delhi and Bengaluru.
Capital: New Delhi
Population: 1.2 billion (July 2014)
Population density: 372 sq km
Median age: 27
Language: Hindi (41%), plus 14 other local languages. However, English is the language of business.
Literacy for adults: 63%
Religion: Hindu, 80.4 %, Muslim, 13.4%
Urbanization: 31% of population
Major cities: New Delhi, Mumbai, Kolkata, Chennal, Bengaluru (formerly Bangalore), Hyderabad
Government: Federal republic
Legal system: Common law based on English model
GDP: $4.99 trillion
Fiscal year: April 1 to March 31
Ease of doing business (World Bank Group stats): 158 out of 189 economies
Ease of construction permits: 184 out of 189
Ease of getting credit: 36 out of 189
Import partners (by rank): China, UAE, Saudi Arabia, Switzerland, U.S.
Electricity production: 871 billion kWh
Internet country code: .in
Internet users: 15% of population in 2013
Mobile phone users: 900 million (second–largest in world)
Long distance code: +91
Time zone: 10 hours ahead of EST
Formal franchise rule: No
Women in business: Foreign women seem to have little difficulty being accepted in leadership role.
U.S. Commercial Service offices: New Delhi, Bengaluru, Mumbai, Chennai, Kolkata (formerly Calcutta), Ahmedabbad, Hyderabad
American Chamber of Commerce of India: Email: email@example.com, Executive Director: Anjay Singha
Business practices: Have the latest wireless and telecom devices; your contacts will want to be able to contact you multiple ways.
Dress: Avoid leather belts, purses and briefcases, as it can be considered offensive.
Sources: World Bank Group, CIA World Factbook, Worldbusinessculture.com, “Kiss, Bow or Shake Hands,” U.S. Commercial Service website, Internet search
The changing cities
New Delhi, the capital of India, didn’t change its name to rid itself of a “Westernized”or colonial name. Cities that did change names include: Calcutta, now known as Kolkata; Bombay now Mumbai and Bangalore is Bengaluru, the “Silicone Valley” of India.