Business

Statistics

• GDP: US$1.1 trillion (2009).
• Main exports: Textiles, gems and jewellery, engineering goods, chemicals and leather manufactured goods.
• Main imports: Crude oil, machinery, gems, fertiliser and chemicals.
• Main trade partners: USA, United Arab Emirates, China and UK.

Economy

Roughly three-fifths of the population is involved in agriculture, both subsistence (mainly cereals) and cash crops, including rice, tea, rubber, coffee and cotton. 

India's energy requirements are met by oil, most of which is imported despite the growth of indigenous production, and hydroelectric schemes. Mining produces iron ore and cut diamonds for export. India's main industrial development has been in engineering, iron and steel, chemicals, electronics and textiles. Since the 1990s, trade has been liberalised, the sprawling public sector cut back, and some state-owned industries sold off. 

India ranks among the top ten in the world by gross national product. The economy has resumed its healthy growth rate, currently at around 6.5% per annum, while inflation is at 10.7%. The unemployment rate hovers around 10.7%. Further improvements to the national infrastructure and basic services are now seen as the priority for central and regional governments.

Business Etiquette

English is widely used in commercial circles, so there is little need for translation services. Indian businesspeople welcome visitors and are generally very hospitable.

Office hours: Mon-Fri 0930-1730, Sat 0930-1300.

Business Contacts

The Associated Chambers of Commerce and Industry of India (ASSOCHAM)
Corporate Office, 1, Community Centre Zamrudpur, Kailash Colony, New Delhi 110 048, India
Tel: (011) 4655 0555.
Website: www.assocham.org

Federation of Indian Chambers of Commerce and Industry (FICCI)
Federation House, Tansen Marg, New Delhi 110 001, India
Tel: (011) 2373 8760/70.
Website: www.ficci.com

Conferences & Conventions

The main congress and exhibition centres are Bengaluru (Bangalore), Bhubaneswar, Chennai (Madras), Delhi, Hyderabad, Kolkata (Calcutta) and Mumbai (Bombay). In addition, top-class hotels with convention and conference facilities are found throughout the country. Air India, Indian Airlines and leading hoteliers and travel agents are members of the International Congress and Conference Association (ICCA) and they provide all the services required for an international event.