We are proud to announce the opening of our first office in India. Salina is pleased to establish its footprint in India as we see India as an economy that is lucrative for businesses.
India has the seventh-largest economy in the world according to nominal GDP and the third largest economy according to purchasing power parity (PPP). Being one of the G-20 major economies and a member of BRICS, India is known as a newly industrialized country with an average growth rate of approximately 7% over the last two decades.
Overseas businesses are encouraged to invest in India for its positive long-term economic growth mainly due to its young population, corresponding low dependency ratio, investment rates, and increasing integration into the global economy. At the end of 2014, India’s economy replaced the Chinese economy to become the world’s fastest growing major economy.
India has the world fastest growing service sectors, with annual growth rate of 9% since 2001. It has become a major exporter of IT services, BPO services, and software services with $167 billion worth of exports in 2013-14. India is also the fourth world largest start-up hub with over 3,100 technology start-ups in 2014-15. The automobile industry is one of the world largest, with an annual production of 21.5 million vehicles in FY 2013-14, and has $600 billion worth of retail market in 2015 and one of world’s fastest growing E-Commerce markets.
As IMF regards the Indian economy as the “bright spot” in the global landscape, World Bank ranks India as the economy with the top growth outlook for 2015-16 for the first time, having grown 7.6% in 2015-16 and expected to grow 8.0%+ in 2016-17.
Salina is confident of helping more businesses to expand and develop in this land of opportunities. We look forward to help more MNCs and SMEs businesses expand in India and Southeast Asia.