India’s situation in the global setting

Why every politicians and business people wants foreign direct investment should come to India to partner with local companies in the sectors of- banking and insurance, information technology, automobile, pharmaceuticals, etc? The answer is India has currently the right setting in terms of- natural resources and eco-system. It seems it has an ever increasing talent pool. India is craving to get its talent pool tested. It is looking in all directions to seek how the people can get gainfully working. India is the second biggest market after china, so we have big demand for everything. It seems we know how to fulfill the demands, but it seems initial capital is what is needed to get the ball rolling. The foreign direct investment can fuel the Indian growth, combined with the development minded politicians, bureaucrats, and growth friendly policies will put India on track to becoming a very strong global player.

Why benchmark?

In a global world for companies to succeed in business they need to have the necessary infrastructure and people to be able to scale and sustain. Having this seems to be the key drivers for growth. But this is not good enough, as one need to qualify the kind of infrastructure and people the company has. Hence, the companies need to benchmark. They need to benchmark with regard to growth and performance with the rest of the world and keep in pace with it, so as to be not left behind.
A word of caution benchmarking helps to know where you are in relation with others, however to lead there is always something more and different one needs to do.

Has development in other areas lead to globalization?

It seems to me that globalization is fuelled by various other development, some key ones that have contributed are mentioned below-
1. Technological advances have significantly lowered the costs of transportation, communication and dramatically lowered the costs of data processing and information storage and retrieval
2. Trade liberalization and other forms of economic liberalization that have led to reduced trade protection and to a more liberal world trading system
3. Global agreement on ideology, with a convergence of beliefs in the value of a market economy and a free trade system
4. A certain improved level in understanding cultures and acceptance of English language as official business language internationally