Since 1990 India has undergone an astonishing transformation from one of the world's poorest and most closed economies to one of its fastest growing. Some experts predict the size of India's economy will surpass that of the U.S. by 2050.?EUR??EUR?
India's economic reincarnation has been fueled by reduced government controls over foreign investment and a young, well-educated, English-speaking work force. Multinationals looking to reduce back-office expenses have flocked to India to tap into that relatively inexpensive talent. That, in turn, has led to an increase in the number of individuals with disposable income, which is fueling a new round of foreign investment in the retail sector.?EUR??EUR?
But India is a difficult place to do business. Its roads are atrocious, its judicial system is a nightmare, its laws favor the employee and its IP enforcement is sporadic at best. But those that can successfully overcome these obstacles are handsomely rewarded.?EUR??EUR?
What follows is an overview of some of those hurdles.