The 1990s is a period of reforms and a time of increased attention to private business in India’s industry. To a large extent, the authorities achieved economic growth in this segment by abandoning excessive state custody. The export rate allows not to lower the annual growth rate of the economy below 6%.
2000s – this is the time of development of high technology in India: mechanical engineering, machine tools, computers and robotics. The country actively attracts foreign investmen and it is also a priority region for opening production branches of world brands in various fields. The centers of industry are concentrated in the largest cities and transport hubs, seaports: Mumbai, Chennai, Calcutta, Bangalore.
Let us consider in more detail the main branches of Indian industry.
This is one of the oldest and most important industries for the country’s economy, which provides significant employment for the population and is export-oriented.
India is the second largest silk producer in the world. Indian cotton is no less popular with production centers in the West and South of the country and jute – Calcutta district. Manufacture of woolen cloth is practiced in the North and North-West. The contribution of this sphere to the national GDP is 9%. Unfortunately, there has been some decline due to the effects of the global financial crisis since 2008. But the government of the country still hopes to implement a daring plan – to overtake China in the sphere of textile production. Certain taxes and fees are abolished for this; The construction of large factories is being reduced to support the development of small enterprises.
Special attention is paid to unique crafts as objects of cultural heritage and tourist interest:
- bright Indian fabrics with traditional prints that are applied manually;
- unique silk saris, clotes in national style with rich embroidery and inlay;
- luxurious pashmina of the finest wool of yak;
- shoes – all this is popular in markets and stores in India itself and far beyond its borders.
The average cost of production of this sphere, which is produced every year by numerous factories and enterprises of the country, is 32 billion dollars. But not all products are exported. This affects negatively the development of the industry in conditions of high foreign competition and rising prices for raw materials.
Nevertheless, interest in cosmetic products and goods for the home of Indian production is relatively stable. Natural creams, soaps, oils are chosen more and more often by people who care about their health and environment state.
The country’s food industry is inextricably linked with the agricultural sector, which employs about half of the population. Climatic conditions have contributed to this since ancient times. Cotton, rice and sugar cane receive the necessary moisture during the rainy season and barley and wheat feel fine dry and hot in the winter.
Harvesting takes place all year round. The state provides fully itself with food crops. The production of foodstuffs is steadily growing due to the improvement of the irrigation system of lands, the use of quality seeds and fertilizers. A significant share of exports are grains, and its basis is the famous tea and coffee. Near about 470 million tons of tea are produced each year. A significant part of the world market for spices also belongs to India – 30%.
The fact that India occupies the 8th place in the world in terms of investment in the development of the sector of innovative technologies demonstrates its importance and prospects for the country. Understanding that only the development of science, the application of its achievements in all spheres of industry will help to cope with long-standing internal problems such as poverty, illiteracy and weak infrastructure, bureaucracy and corruption, was evident from the moment of gaining independence in 1947. Such policy gives tangible results:
- India launched 10 space satellites into orbit in the spring of 2008.
- The launch of the nuclear submarine INS Arihant.
- Significant growth in the automotive industry against the backdrop of a worldwide slowdown in this area. Innovative technologies are being actively used by the largest national auto concern TATA since 2008.
- The Indian telecommunications market is the fastest growing in the world after China.
- The growth of such Indian companies in the IT-sector as Tata Consultancy Services, Wipro, Infosys, HCL and Tech Mahindra-Satyam exceeded by 5-10% the growth of such foreign companies as Microsoft, IBM, Cisco, Oracle, Intel and Adobe.
Various household appliances of Indian manufacture continue to be actively in demand. Increasing popularity among the global and national consumer of mobile phones, smartphones, laptops and computers produced in India. So Apple doesn’t hide its interests in the region: the production of iPhone 6 and 6S models starts in Bangalore and later the most budgetary model in the iPhone-SE lineup will join them. Apple is going to press the Indian popular manufacturers. A vivid example is the success of Micromax – 11% of the local mobile phone market.
India ranks 5th in the world in terms of production and export of medicines. The main goal of this sphere is to provide the market with vital and inexpensive drugs. Some Indian companies already have their offices in 60 countries including the US, Europe and China. For some names, such as hepatitis drugs, India has become the unofficial leader among consumers. Active interest in ancient Indian medicine – Ayurveda, whose traditions are increasingly reflected in modern preparations, also positively affects the development of this industry.
In the context of modern globalization access to Indian goods is becoming easier. Our site – Goabay- will become your personal assistant in this matter: buy medicines, Ayurvedic, food products, beauty care products, clothes at the lowest prices with the guarantee of delivery anywhere in the world easily and conveniently. Also pay attention to the service “Warehouse in India” – we will find, acquire and organize the delivery of any locally produced goods to the address you indicated.