Leading market analyst EMIS, which reports on around 1mn Indian companies and offers insight into over 170 industry sectors, has released a short report on India’s economic outlook for the coming year. Business Chief took a look at some interesting points and what EMIS says we should look out for in 2018. EMIS states “it is time for expansion and consolidation”, with Indian companies across various sectors “geared up” to grow. The report is positive about both the industrial and services sectors in the country.
In January, India hosted 10 representatives from ASEAN nations, committing to being an active part in the ASEAN as it agreed to support the Philippines’ “build, build, build” campaign to improve infrastructure. India pledged to invest a minimum of $1.25bn in the Philippines, which EMIS states could create over 100,000 jobs.
Could India temper China’s domination of the Asian market? It certainly has the population to do so, but its emerging economy will take time. EMIS has pointed to some areas where India is going global, including pharmaceutical and software.
Pharma companies are looking to acquire internationally in order to “improve profitability and scale”, with Indian companies looking primarily to the US, Europe and Japan. Meanwhile, software services are already a roaring success overseas, with the US contributing to about 70% of that sector’s revenue for India. Companies are also looking to build upon this success in Europe and Latin America.
It has also been noted that the domestic startup market is showing positive growth, with investment from tech giants Tencent and Alibaba in the country amounting to about $2.4bn in the last 18 months.
The report concludes: “India is going to be an exciting corporate hotspot in the coming years, with repercussions of its bubbly activity observable both within the country and around the globe.”