India is a growing market with expanding opportunities across multiple sectors. India shares 17.5 %of the world’s population and 2.4% of the world’s surface area. Currently, India is the 7th largest economic market with a thriving middle class.
Below is a snapshot of reasons why you should consider India – especially if you are a part of the Aerospace, Healthcare, Energy or Agriculture industries.
Aerospace
- At $16 billion, India’s aviation market is currently the 9th largest in the world and is expected to be the 3rd largest by 2020, and by 2030, potentially the largest.
- The Government of India is advancing $110 billion in civil aviation expansion and modernization projects through 2020.
- KPMG recently estimated India would require over 250 brown field and green field airports by 2020.
Healthcare
- The Indian healthcare industry is expected to reach $280 billion by 2020 due to increased demand for specialized and quality healthcare facilities.
- The Indian medical device market is worth an estimated $4.4 billion (without the inclusion of rural market potential) and is expected to exceed $7 billion by the end of 2020.
- Imports constitute fifty percent of the market for diagnostic kits, reagents, hand-held diagnostic equipment, and simulation for operating rooms. Hand-held/portable diagnostic equipment is also a fast-growing segment since India has around 45 million diabetics, which is expected to swell to 70 million by 2025.
Energy
- India has the 5th largest power generation installed capacity in the world. Coal dominates the energy mix at 60 percent, but renewable sources are quickly expanding their share.
- The Ministry of New and Renewable Energy is developing a National Energy Storage Policy to fast–track adoption of new technologies in India.
- India has ambitious targets to continually increase the percentage of renewables within the overall mix of energy sources (15 percent in 2016) to 40 percent by 2030.
Agriculture
- India is an agrarian economy and more than fifty-two percent of the land area is considered arable.
- The Ministry of Food Processing Industries has an initiative to establish 42 mega food parks, 133 Cold Chain projects, 38 Abattoir projects, 101 Food Testing Laboratories and to provide assistance to 7,381 food processing firms for technology upgrades and modernization. The goal is to increase the level of processed food from the current 10 percent to 20 percent by 2019.
- India is known for a fledgling cold chain, which results in supply chain losses of food and other resources. The losses in agricultural sector alone are estimated at $14 billion annually due to inadequate infrastructure.
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