Marine Drive, Mumbai's famous boulevard
Dutch entrepreneurs benefit from Modi measures
Dutch companies active in India benefit from the pro-business policy of the new Indian government. 75% of them advise other Dutch companies to get started in India. This is evident from the India Business Monitor, an annual survey by ING Bank, the Ministry of Foreign Affairs and the Netherlands Indian Chamber of Commerce (NICCT).
116 Dutch companies active in India or trading with Indian companies participated in the annual survey. The majority of respondents said they had noticed the first positive changes as a result of Prime Minister Modi's arrival. In particular, entrepreneurs report less bureaucracy, more favourable investment rules and a better functioning government apparatus. 65% expect the Modi government, now in power for over a year, to bring about further improvements in the business climate in India in the coming period.
Companies cite market size and potential as the main reason for investing in India. The low labour cost of a highly educated workforce is another commonly cited argument. Most respondents expect their sales and profits in India to increase this year. Also, the majority of companies expect to hire more people in India.
Read the entire report here. What are your business experiences in India? We would love to hear it!