New Avenues Opening In India As The Country Grows

                                                                                         

The Indian economy is growing rapidly. It offers profitable opportunities to foreign investors and businessmen. Analysts say that India's year on year growth will double somewhere in 2007 and that the country might grow and develop faster than its competitor country China, for a quarter period.

The economic growth is expected to remain strong in 2007, with major contribution by the flourishing investment and consumption. India’s five-year plan, ending 2011-12, proposes to achieve 9% average annual growth. The market research firms are expected to grow by at least 8% in the coming five years.

India is developing new sectors for growth—retail, telecom, information technology, biotechnology, automobile and various other sectors. Overseas countries are first taking the help of market research to find out the feasibility of entering these markets, in India. The FMCG and the medical sector are growing at a speedy rate and use market research.

Market research can be of great help in the retail sector in India. The retail market business in India has traveled a long way. It has developed from small family owned retail shops to structured retail chain and supermarket business. Companies like reliance, TATA, and RPG are setting up retail chain stores all over in the country.

Investments made by these global players in the Indian markets has given birth to tremendous competition in the filed of retail market. In order to deal with this increasing competition, retail business companies have to conduct consumer satisfaction surveys, brand research, demand analysis and various other activities on a regular basis.

Being a global player, the company has to very careful and organized in terms of handling of data and research since it is involved with clients on a country level and their market is also huge and complex. The home country has to improve upon its skills in order to tap new opportunities and satisfy the existing customers.

The estimated size of Market research industry is $23Bn. Around 58% of the revenue in this sector comes from the top 25 companies of which 66% comes from the top 5 countries- US, UK, France, Germany and Japan.

Apart from the market research industry growing by 5% in the past four years, there are some countries that have shown commendable growth included all the Asia Pacific Countries. China recorded growth of 27% last year, followed by India with 16% growth. Other East European countries also showed tremendous growth.

To avail more information on market research and new avenues opening for investment as the country develops log on to the website: http://www.rncos.com.

RNCOS E-Services Pvt. Ltd. is an industry leader in the field of online business research. We specialize in industry research on various business verticals. To read our market research reports, visit us at our website: - http://www.rncos.com or email us at info@rncos.com.

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