The Elephants In The Room: Hidden Risk And Opportunities In India

India recently regained the title of being the fastest growing major economy after a period of uncertainty following major government led policy changes. There is some optimism that the reforms have laid the foundations for double digit growth in the future, but there are many challenges which need to be navigated by businesses along the way.

Economy

A financial crisis in the early 1990s triggered a wave of economic liberalization and reform in India. During the following 25 years, India’s GDP per capita tripled and the country is now the world’s fastest growing large economy. To continue reaping the benefits of fast growth, India needs to focus on regulatory, transparency and infrastructure-related reforms.

Society

India is home to a young population. While it is popularly called out as a “demographic dividend”, India’s enormous labor force also presents diverse HR challenges. For HR teams to be future-ready, organizations must adapt to changing trends.

Environment

India’s push toward renewable energy has been impressive and is urgently needed to augment the country’s future energy needs. But where the biggest promise lies is in the country’s potential to become a world leader in battery storage technology and take on the mantle of becoming a global “renewables powerhouse.”