Today we present the opportunity in the Indian market: a country that can no longer be just an option in the expansion strategies of Italian SMEs, but an almost obligatory path because of the continuity of profits it can offer.
With a population of 1.25 billion, India is the second most populous state in the world, and after suffering a GDP decline of about 6% in 2020, it rebounded by +9.5% in 2021, and then maintained almost constant growth between 6% and 7% in 2022 and 2023. As for the forecast for 2024, the figure is positive and by a +6% of GDP. The ever-widening middle class thus enjoys greater spending power than in the past, fostering interest in international brands.
Not only that, India is also a country that is experiencing really interesting digital development. By this year, internet users are expected to reach the 840 million people, a figure doubled from only four years ago (in 2017 there were 422 million people).
In addition, the import flow far exceeds the export flow, with 334 billion, India ranks 18th among the largest importing countries globally. For those who want to sell their goods abroad, India is a good business partner. Italian companies should take a good look at this state because it offers great opportunities to grow their business.
In first place for Italian exports to India is the sector of. equipment and machinery, with an exchange value higher than a billion. This sector accounts for 40% of Italy's exports and has helped create in India a real hub technology and manufacturing.
On the podium is the papermaking, with a total value of 120 million.
In third place finally qualifies the sector pharmaceutical and various medical preparations (supplements, functional cosmetics and homeopathic products) with a value of 114 million.
These numbers highlight a strong trend: India is experiencing a period of expansion, and products Made in Italy Are already the most appreciated ones. The road is already mapped out and ready to be walked.
Octagona can point you to and accompany you in seizing market opportunities and thus supporting the growth of your business. Our experience, the result of 750 projects of internationalization successfully completed in nearly 20 years, has enabled many companies to enter the Indian market from scratch even thanks to our team present directly in New Delhi.
Do you want to seize the right opportunities? Click below and fill out the form to find out: we will contact you to study the best solution with you.
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L’India è interessante perché unisce crescita economica, grande popolazione e forte domanda di beni importati. Il PIL è rimbalzato del 9,5% nel 2021 e ha mantenuto una crescita tra il 6% e il 7% nel 2022 e 2023. Con 1,25 miliardi di abitanti e una classe media in espansione, cresce l’interesse per i brand internazionali.
Indian GDP fell by about 6% in 2020 due to Covid, then rose by 9.5% in 2021. In 2022 and 2023 growth remained almost constant between 6% and 7%. For 2024 the forecast is positive, with an increase of about 6%.
Il primo settore per l’export italiano verso l’India è quello di apparecchiature e macchinari, con scambi superiori a un miliardo di euro e circa il 40% delle esportazioni italiane. Al secondo posto c’è la produzione di carta con 120 milioni di euro, al terzo il farmaceutico e i preparati medici con 114 milioni.
L’India è il 18esimo Paese importatore a livello globale, con importazioni pari a 334 miliardi. Il flusso di import supera di gran lunga quello di export, il che rende il Paese un partner commerciale favorevole per le imprese straniere che vogliono vendere i propri beni all’estero.
Il digitale indiano è in forte espansione: si prevede che gli utenti internet arrivino a 840 milioni, quasi il doppio dei 422 milioni registrati nel 2017. Questa crescita amplia il pubblico raggiungibile online e favorisce il digital export e l’e-commerce per le aziende italiane che puntano al mercato indiano.
A SME can enter India by relying on a consulting company with experience and a local presence. Octagona has completed 750 internationalization projects in almost 20 years and has a team in New Delhi that has helped many companies start from scratch in the Indian market.
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