by Analytics Insight
March 6, 2022
Indian tech hubs are highly lucrative for international tech companies in 2022
Have you ever wondered why so many international tech companies like Google, Microsoft, Apple, Amazon, IBM, and many more are attracted to Indian tech hubs in recent years? We often underestimate the power of India after watching some news covered by the media. Meanwhile, most of the global tech companies have started to invest millions of dollars in India for their market expansion and growth. Let’s look at the reasons why these companies are keeping their eyes on the Indian tech hubs.
- India provides a strong middle-class population with a substantial percentage of the youth population that makes the international tech companies capture the market segment
- That being said, we know the population of India is 1391.99 million while China has a record of 1408.09 million in 2021 (as per Statista.com). But they are interested to invest in the Indian domestic market. It is because the Chinese market has multiple strict political control over the entry of foreign countries. Whereas, it is much easier to penetrate the Indian market without such business restrictions.
- India offers a thriving domestic market with an opportunity for global tech companies to keep up with the practice of customization for consumers. India is a secular country with a diverse range of customers’ databases. The companies need to focus on the R&D of personalized products and services as per the needs, wants, tastes and preferences at the current time.
- India is keeping up with the growing technology infrastructure to attract international tech companies. The domestic startup ecosystems in multiple smart cities are viable to launch products and services successfully.
- Last, but not least, India serves huge and competent manpower due to its huge population. It is a well-known fact that some Indian IT professionals are currently at the top positions in some international tech companies or politics. The companies can ensure cost-effectiveness, market growth, and higher ROI by utilising human resources in India. The large-scale Indian market is perfect for providing job opportunities to succeed in their endeavors.
Thus, we can definitely feel proud that India is a dream destination for hi-tech international companies to invest millions of dollars in the Indian market and show empathy towards the rich and diverse Indian culture.
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