Business Environment coursework Example | Topics and Well Written Essays - 1500 words

Business Environment - Coursework Example Pertaining to this growth, various sectors of the economy are sprouting up (Uppal et al, 2009) Apart from the robust middle class, India also ranks as the fourth largest billionaire population in the world. This also makes it a lucrative market for premium products and high end luxury products. Moreover, the country has a pulsating democracy which gives an easier access to Foreign Direct Investment and an encouraging environment for business. Entrepreneurs can exploit these benefits in form of ease in technical issues such as the paper work, licensing hurdles, company registration process, and other tax incentives to operate in India (Uppal et al, 2009). The process for incorporation of a company in India has about 11 steps which are spread over a time period of 35 days. As quoted above, the country’s middle class along with the high income earners constitutes a high overall spending power and as quoted above, this fact makes it one of the most lucrative markets in South Asia and the whole world. Moreover, the political condition in the economy has led to a gap for entrepreneurs in different sectors of the economy like retail, insurance, banking etc. This gap has largely been created because previously, these sectors were owned and controlled by the government and as the Indian economy opens up to the global markets, these government monopolies have started to evaporate leaving space for entrepreneurs (Uppal et al, 2009). No matter how huge and lucrative the market seems, India is not the country of one’s dreams and like all the rest of the world, has some setbacks too. Unfortunately, one of the problems in the business environment which India faces is unimposing law enforcement by the Indian judiciary. This is mainly because of resource constraints and long procedures owing to corruption. However, the problem has been identified and is deemed serious enough to take some actions to avert this drawback in the country’s