The document discusses the economy and legal services sector of India. It notes that India has transitioned to a mixed economy with liberalized trade policies and is now the 10th largest economy by GDP. Major exports include engineering goods, petroleum, chemicals and pharmaceuticals, while major imports are crude oil, machinery and electronic goods. Foreign investment in India has increased, with Mauritius, Singapore, the US and UK being leading sources. The legal process outsourcing industry in India is also growing to serve international clients due to a large pool of English-speaking lawyers and significantly lower costs compared to other countries like the US.
India-UAE Investment Relations Under Modi GovernmentZakir Hussain
In this viewpoint new horizons of investments have been explored. Trade, investment and security are the areas where the two countries have converging interest.
India-UAE Investment Relations Under Modi GovernmentZakir Hussain
In this viewpoint new horizons of investments have been explored. Trade, investment and security are the areas where the two countries have converging interest.
This presentation was held by Christian Hainsch from Indoconsult at the BKPM Market Sounding of Indonesia's PPP Infrastructure Projects Forum in Berlin 2013 at the Steigenberger Hotel
FDI POLICY IN INDIA: RECENT RELAXATION OF NORMS Sandeep Gupta
The Union Government of India radically liberalized the FDI regime on June 20, 2016, with the objective of providing major impetus to employment and job creation in India. This was the second major set of reforms after changes were announced in November 2015. Post these amendments , most sectors shall be able to receive Foreign Direct Investment (FDI) under the automatic approval route, except a few sectors on a negative list. As a result, India is now the most open economy in the world for FDI and has been rated as Number 1 FDI Investment Destination by several International Agencies
This presentation was held by Christian Hainsch from Indoconsult at the BKPM Market Sounding of Indonesia's PPP Infrastructure Projects Forum in Berlin 2013 at the Steigenberger Hotel
FDI POLICY IN INDIA: RECENT RELAXATION OF NORMS Sandeep Gupta
The Union Government of India radically liberalized the FDI regime on June 20, 2016, with the objective of providing major impetus to employment and job creation in India. This was the second major set of reforms after changes were announced in November 2015. Post these amendments , most sectors shall be able to receive Foreign Direct Investment (FDI) under the automatic approval route, except a few sectors on a negative list. As a result, India is now the most open economy in the world for FDI and has been rated as Number 1 FDI Investment Destination by several International Agencies
Kingston Smith Asia Pacific Conference Mumbai 25 May 2010Bhuta Shah & Co.
This is the keynote presentation at the Kingston Smith Asia Pacific Conference held on 25 May 2010 at J.W. Mariott Mumbai by Shailesh Bhuta Founder and Managing Partner of Bhuta Shah & Co.
this ppt is regarding globalization and it's impact on indian economy, i had made this for my business enviroment programme.
plz leave a comment about this if you like it.
Kegler Brown and the Ohio Development Services Agency presented "Succeeding in India: Business and Legal Insights" on Tuesday, October 14, with Dr. Manoj Kumar Mohapatra, Deputy Consul General, Consulate of India, New York, as the keynote speaker.
Topics included legal intelligence when conducting business in India, how the Ohio Development Services Agency can help Ohio businesses and a panel of local business leaders provided insight and practical advice from their experiences in India.
India- EU relations go back to the early 1960s. India was among the first countries to establish diplomatic relations with the (then) EEC. The 1994 cooperation agreement signed between EU and India took bilateral relations beyond merely trade and economic cooperation.India-EU relations have grown exponentially from what used to be a purely trade and economic driven relationship to one covering all areas of interaction. The Summit in The Hague was a landmark Summit, as it endorsed the proposal to upgrade the India-EU relationship to the level of a 'Strategic Partnership'.The GOI see it as a qualitative transformation in the way we engage as equal partners and work together in partnership with the world at large.
SOURCE:http://commerce.nic.in/trade/India_EU_jap.pdf
Increased inflow from developing countries is partially explained by the well-known investment development path (IDP) theory by Dunning, which says outward FDI is undertaken when the country reaches a certain minimum level of development. As countries move along the IDP from the initial stage of only receiving inward FDI, domestic firms acquire ownership and other advantages to go abroad and the country reaches the final stage and becomes an important outward investor. Indian outward investors are investing in a number of developed and developing countries.
As predicted by IDP theory, Initially Indian Official FDI was concentrated towards other developing countries. However, after the year, 2004-05 overwhelming proportions of these investments are directed to developed countries and the gap between the two has diverged considerably. Initially, the outflows to high income and developed countries were in the ratio of 40:60, but it has now become 85:15
Indian industrial houses like the Tata group, Birla, Reliance, Ranbaxy, ONGC, Infosys and etc. are now more interested in cross-border acquisitions.
The inclination for cross border acquisitions by Indian corporate suggests that they have started bidding for much larger businesses than their own and for those that are based in high-income countries.
http://euacademic.org/BookUpload/12.pdf
So it is clear that EU and India are trading naturally they are not in any pressure from any Multilateral agencies i.e. WTO, world bank group, IMF etc. to perform trade. Therefore they are Natural and Obvious trading Partners.
According to me yes both EU and India are Natural & obvious trading partners but the advantages of trade is not shared equally.
"India and the EU, as the largest democracies in the world, share common values and beliefs that make them natural partners as well as factors of stability in the present world order."
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2. ECONOMY OF INDIA
The independence-era Indian economy was based on
a mixed economy combining features of capitalism and
socialism
India adopted liberal and free-market principles and
liberalized its economy to international trade
Tenth-largest economy in the world by nominal GDP
Third-largest by purchasing power parity (PPP)
Country's economic growth progressed at a rapid
pace, with relatively large increases in per-capita incomes.
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3. India is the 19th-largest Exporter and the 10th-largest Importer in the world.
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4. Global Trade Relations
India is a founding-member of General Agreement on
Tariffs and Trade (GATT) since 1947 and its successor, the
WTO
India's major trading partners are the European
Union, China, the United States of America and the United
Arab Emirates
Major export commodities included engineering
goods, petroleum products, chemicals and
pharmaceuticals, gems and jeweler, textiles and
garments, agricultural products, iron ore and other
minerals
Major import commodities included crude oil and related
products, machinery, electronic goods, gold and silver
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5. INDIA OPENS DOOR TO FOREIGN INVESTMENT
India allowing big foreign retailers , foreign
broadcasters and foreign airlines to invest in the
country
Bringing in big foreign brands, like Wal-Mart
which can now open stores in India in
partnership with a local company, is expected to
help.
The government also allowed foreign airlines to
purchase 49% percent of an Indian airline, and
investment in broadcasting companies.
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6. Foreign Direct Investment
•India has positioned itself as one of the front-runners of the rapidly growing
Asia-Pacific region
•The second most important FDI destination (after China) for transnational
corporations during 2010–2012.*
•Mauritius, Singapore, US and UK were among the leading sources of FDI.
•Higher inflows were services, telecommunication, construction activities
and computer software and hardware.
•India has strengths in telecommunication, information technology and
other significant areas such as auto
components, chemicals, apparels, pharmaceuticals, and jeweler
•India has a large pool of skilled managerial and technical expertise
*Note:- Information based on United Nations Conference on Trade and Development (UNCTAD) survey
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7. EMPLOYMENT
Agricultural and allied sectors accounted for about
52.1% of the total workforce
Avenues for employment generation have been
identified in the IT and travel and tourism
sectors, which have been experiencing high annual
growth rates of above 9%
The 11th five-year plan has also identified the need for
a congenial environment to be created for employment
generation, by reducing the number of permissions
and other bureaucratic clearances required
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8. INDIA LARGEST TRADING PARTNER
The rapid and sustained growth of the Indian economy has
increased demand for lawyers with international and cross-
border commercial legal services experience to service the needs
of foreign investors, multinationals and Indian exporters The
availability of commercial legal services spanning the laws of
multiple jurisdictions (fully integrated legal services) contributes
to the security and predictability of the local business
environment and is a catalyst for foreign investment.
The legal services market in India is currently closed to foreign
lawyers, even for the practice of foreign law.
The benefits to India’s legal services sector could be expected to
include innovation in the supply and delivery of commercial
legal services, improved client responsiveness due to increased
choice in legal services providers, cost efficiencies in the supply
of legal services, and enhanced availability and standards of
professional training.
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9. LEGAL PROCESS OFFSHORING
The median annual salary of a lawyer in the United States is
around $95,000. The median annual salary of a lawyer in
India is around $20,000 per year. This significant salary
differential is prompting a growing number employers to
export legal work to low-wage, developing countries
overseas
India is currently the leading destination for off shoring legal
services. With tens of thousands of students graduating
from India’s law schools each year, India boasts an
enormous labor pool of highly trained, English-speaking
lawyers. Like the U.S., India’s legal system is based on
British common law, reducing the learning curve for Indian
legal employees who work for clients
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10. GROWTH OF LEGAL PROCESS OFF SHORING
The advent of the Internet, increased automation of
legal processes, developments in data security, new
technology tools, economic changes and the
availability of well-educated low-cost foreign labor
have combined to instigate and energize the LPO
occurrence. Legal Processing Off-shoring is occurring
in nearly all sectors of the legal services industry.
Legal Secretarial and Administrative Functions
Litigation Support Functions
Lawyer Functions
Paralegal Functions
AASHIRGURKAR&ASSOCIATES