India has a promising industry in the world. The country is set to be the second largest in terms of economy in 2040, which is the time when its population has already overtaken China as the world’s largest. The population of the country provides a promising structure in order to ensure the credibility of the country’s economic progressiveness to both local and international countries. The spacious area of the country provides numerous options for the country’s industry to establish numerous investment opportunities. This is because the country is the seventh largest country in the world with a total estimated land area of at least 3.2 million square kilometers. With the exception of the country’s marine resources, it can significantly generate numerous natural resource potential to further elevate its industrial development once that the country allows its technology industry to expand in its territorial waters.
Industrialization in India shows diversity as based on different sectors. In this case, the value of encouraging the country’s economic development is divided in a variety of progressive growth. Communication is one of the most noticeable industries in India because there are a growing number of populations that are operating in the language and communications sector. This branched out into several industrial disciplines such as in the Business Process Outsourcing industries that allow foreign countries to establish their business in India. The young population of India has the largest English speaking nation, suitable for foreign countries to facilitate customer services. India offers cheaper services than the developed countries in Europe and Asia-Pacific regions because it offers a better opportunity to prevent spending more expenses while operating in their expensive motherland.
India’s real estate industry is also booming across the country. There are numerous mega cities that are flourishing across the country, making it vital for the Indian economy to establish a regional hub with each other. There are cheaper land area values that are now being offered across India than other countries in the world that generated more interested small, medium, and large businesses to establish their startups in India. However, the most interesting part is the industrialization of science and technology in India. India is one of the few countries in the world that is actively participating in the aerospace and in the cosmos. The country already sent satellites into the space to improve their internet facilities that will improve internet connections and other communication innovations.
India is also modernizing its armed forces by means of air, land, and the sea. The country has nuclear warfare technology that is capable of protecting itself from foreign threats such as terrorism and nuclear war. In terms of maritime defense, India has its own aircraft carrier, which signals that the country has very serious military developments in the world. Internet and technology are highly industrialized across the urbanized areas across the country. However, India is still faced with numerous obstacles such as high incidence rates of poverty that should have been exposed to communication networks expansion to remote areas. India’s large bulk of the population is a challenge because there are parts of the country where its population is not well disciplined by its authorities. The reason behind is that the population makes the ration unequal to control criminal and terrorist elements across the country that happens on a daily basis (Nayak, Goldar & Agrawal, 2010).
- Nayak, P. B.; Goldar, B.; Agrawal, P. (2010), India’s Economy and Growth: Essays in Honour of V. K. R. V. Rao, SAGE Publications, ISBN 978-81-321-0452-0