chapter  1
7 Pages

Introduction: The business context

ByPAWAN S . BUDHWAR AND ARUP VARMA

Since the liberalization of its economy in 1991, India has emerged as a major player on the global economic front. Indeed, the World Bank and other bodies have projected that over the next decade India is likely to sustain its economic growth, and is likely to be among the top two or three leading economies of the world. Not surprisingly, such developments have led to a renewed interest in the Indian market, and foreign investors have been making a beeline to enter the lucrative Indian market. However, the pace of these developments has been rather rapid, and the relevant support systems to guide investors have not kept pace, and many are still evolving.