INDIA India s GDP has more than quadrupled since 1990; GDP per capita increased from $309 in 1991 to $14,77 in 2010. The annual median per capita income in India stood at $616 in 2013, the 99 th position among 131 countries. The median household income is $3,168. India s economy is the 7 th largest in the world, measured by nominal India GDP Per Capita GDP, and the 3 rd largest by purchasing power parity. India is classified as a newly industrialized country, one of the G-20 major economies, and a developing economy with an average growth rate over approximately 7% over the past two decades.
The minimum wage in India varies from US$2.40 per day in Bihar to US$5.80 per day in Delhi. State governments set a separate minimum wage for agricultural workers. GDP by sector: Agriculture: 16.1% Industry: 54.4% Services: 54.4% India is home to the world s 3 rd largest pool of billionaires: there were 111 billionaires in India in 2016. Labor force: 502.1 million people Labor force by occupation: Agriculture: 49% Industry: 20% Services: 31% One of the fastest growing service sectors in the world with annual growth rate of above 9% since 2001, which contributed to 57% of GDP in 2012-13 Major exporter of IT services, BPO services, and software services with $167 billion worth of service exports in 2013. The IT industry is the largest private sector employer in India The 4 th largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 India ranks second worldwide in farm output The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three wheelers) in 2013-14. India has $600 billion worth of retail market in 2015 and one of the world s fastest growing E-Commerce Markets.
India s two major stock exchanges Bombay Stock Exchange and National Stock Exchange of India had a market capitalization of US$1.71 trillion and US$1.68 trillion respectively as of February 2015, which ranks 11 th and 12 th largest in the world according to the World Federation of Exchanges. India s Top Exports Petro Products Gems and Jewelry Transport Parts Fabric and Textiles Machinery Pharma Metal Products Electronics Plastics China s Top Industries Professional Services Manufacturing Technology Retail Trade Human Resources Education Business Support Arts and Entertainment Food and Beverage Travel and Tourism Factor Political Analysis India s Constitution guarantees adult franchise and provides the framework for women to participate actively in politics. After prolonged deliberations, the government made the provision in the Panchayat and Nagarpalika Bills of 1992 to reserve 33% of candidature and constituencies in the local bodies panchayats, municipalities, and corporations for women. There is currently a bill to make the 33% quota apply to the national parliament. Most women in national politics are from higher castes.
Factor Economic Societal Technology Legal Analysis Over the last decade, economic growth has averaged 7.5-8% annually, and it is projected at 8.75% for the coming years. India s GDP has more than quadrupled since 1990. Collectively, women-owned businesses contribute 3.09% of industrial output, employ over 8MM people 78% of those businesses are in the service sector and 98% are micro enterprises. Access to finance remains an obstacle, with 90% of women business owners using informal sources to finance their enterprises. The Global Gender Gap Index ranks India 121 out of 135 countries on the educational attainment sub-index due to persistent gender disparities in primary-tertiary education. Women have been subject to entrenched cultural biases. Sex-selective abortions have occurred at staggering rates despite a 1996 ban on screening for such purposes. Researchers say up to 600,000 female fetuses are aborted in India every year, or 2.2% of the annual birth rate. According to the IFC, there is a perception that bank branches are unwelcoming to women customers. The Hindu Succession Act of 2005 granted women equal inheritance rights to ancestral and jointly owned property to help women gain greater equality. Tech companies are reaching out to non-profits, academia, and social enterprises as well as national and state-level women s organizations to build partnerships and networks to advance women s business success. Goldman Sachs has linked with the Indian School of Business to implement the 10,000 Women program in India to provide business training to women running small and medium enterprises. There are also indications that women s participation in India s technology economy has improved their earning potential and bargaining power at home. There are multiple other initiatives to help women better use technology in India and to use it for running their businesses. Women businesses are twice as likely as their male counterparts to provide innovative solutions. On paper, Indian women have all the same legal protections as men. New laws passed provide women-owned businesses with significant subsidies. Women in India have traditionally been marginalized in society; there is only 25% labor participation rate of women and much lower literacy rates. Large urban cities have seen much improvement in women equality and participation in the economy with 41,000 small to mid-size women-owned businesses. WEConnect International is tracking 620 selfregistered and 46 certified businesses. The Certified businesses generate $127 MM annually and 42% have experienced revenue growth since 2012.
Professional Services is the largest sector for women-owned businesses. Manufacturing is the second largest industry, but IT is the fastest growing industry. Although competition is increasing in all major industries as India s economy expands, the power of women-owned businesses is increasing especially in IT. Barriers to entry are generally being lowered as women-owned businesses are gaining greater access to capital and have additional support through government policies. Women-owned businesses can compete favorably as long as they have access to buyers. India s Business Landscape by Industry
WEConnect International Activity in India (2015)