Indian Economic Environment

THE INDIAN ECONOMIC ENVIRONMENT Companies and their suppliers, marketing intermediaries, customers, competitors, and publics all operate in a macro environment of forces and trends, increasely global, which shape opportunities and worry threats. These forces represent non-controllables, which the company must monitor and to which it must respond. The descent of the new century brought a series of new challenges: the unconscionable decline of the stock market, which affected savings, investment, and retirement funds; increasing unemployment; corporate scandals; and of course, the rise of terrorism. These dramatic events were accompanied by the law of continuation of existing trends that carry already influenced the global landscape. Within the cursorily changing global picture, the firm must monitor sise major forces: demographic, economic, socio-cultural, natural, technological, and political-legal. Economic Environment- The available purchasing power in an economy depends on current income, prices, saving, debt, and credit availability. Marketers must ante up c areful attention to trends affecting purchasing power, because they can have a strong impact on business, especially for companies whose products are geared to high income and price-sensitive consumers.

Indias economy has been showing sonorousness of growth from 1991 ever since the government initiated programs to ease control on industry and commerce. In 1998-1999, the gross domestic product of the country was estimated to be Rs. 17,410 billion, at current prices. By the year 2006-2007, the GDP was estimated to be Rs. 41,000 billion. By applying the purchasing power parity (PPP) method, Indias GDP is estimated to be about $3.319 trillion, making India the fourth largest economy in the world. GDP has to a fault been growing at more than 7% per annum. The per capita income is also estimated to be increasing at the same rate. In addition, India has rose-cheeked foreign exchange reserves to cover the countys imports for... If you neediness to get a full essay, order it on our website: Ordercustompaper.com

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