Today we present the opportunity in the Indian market: a country that it can no longer represent just an option in the expansion strategies of Italian SMEs, but an almost obligatory path for the continuity of profits it can offer.
With 1.25 billion inhabitants, India is the second most populous state in the world, and after suffering a decline in GDP of around 6% in 2020, in 2021 it rebounded by +9.5%, and then maintained almost constant growth between 6% and 7% in 2022 and 2023. As regards the forecast for 2024, the data is positive and of one +6% of GDP. The increasingly large middle class therefore enjoys greater spending capacity than in the past, favoring interest in international brands.
Not only that: India is also a country that is experiencing truly interesting digital development. This year it is expected that internet users will reach the 840 million people, doubled compared to just four years ago (in 2017 there were 422 million people).
Furthermore, 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 represents a good trading partner. Italian companies should look favorably on this state, because it offers great opportunities to grow their business.
In first place for Italian exports to India we find the manufacturing sector equipment and machinery, with an exchange value greater than one billion euros. This sector represents 40% of Italian exports and has helped to create a real one in India hubs technology and manufacturing.
The sector is present on the podium paper production, with a total value of 120 million euros.
Finally, in third place is the spharmaceutical and various medical preparations sector (supplements, functional cosmetics and homeopathic products) with a value of 114 million euros.
These numbers highlight a strong trend: India is experiencing a period of expansion and products Made in Italy they are already the most popular ones. The road is already traced and ready to ride.
Octagona is able to advise 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 almost 20 years, has enabled many companies to enter the Indian market from scratch too 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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