Indian Tech Hubs Highly Attractive to International Tech Companies in 2022
Have you ever wondered why many international tech companies like Google, Microsoft, Apple, Amazon, IBM have been attracted to Indian tech hubs in recent years? We often underestimate the power of India by looking at some of the news covered by the media. Meanwhile, most global tech companies have started investing millions of dollars in India for their market expansion and growth. Let’s take a look at the reasons why these companies are keeping an eye on the Indian tech hub.
- India offers a strong middle-class population with a substantial percentage of the youth population that compels international tech companies to capture the market segment.
- That being said, we know that India has a population of 1391.99 million while China has a record 1408.09 million in 2021 (according to Statista.com). But they are willing to invest in the Indian domestic market. This is because the Chinese market has many strict political controls on the entry of foreign countries. Whereas, it is very easy to enter the Indian market without such trading restrictions.
- India offers a thriving domestic market for global tech companies with the opportunity to sustain the practice of customizing for consumers. India is a secular country with a diverse range of database of customers. Companies currently need to focus on R&D of personalized products and services as per the needs, wants, tastes and preferences.
- India is keeping pace with the growing technology infrastructure to attract international tech companies. Home startup ecosystems in many smart cities are viable for successfully launching products and services.
- Last, but not least, India is served by its huge population with huge and capable manpower. It is a well known fact that some Indian IT professionals are currently holding top positions in some international tech companies or politics. Companies can ensure cost-effectiveness, market growth and high ROI by utilizing human resources in India. The Indian market at large is perfect for providing job opportunities to be successful in your endeavours.
Thus, we can certainly 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.