Remember when dial-up was considered cutting-edge? Similar to technology, the business environment is always changing. Being the agile backbone of economies, mid-sized businesses need to continually adapt in order to survive.
So where’s that secret fuel that’s accelerating knowledge and creativity at lightning speed? According to an article by TimesofIndia, India is the place to look, as in the last six years, the country has seen an over 15,400% increase in startups. That is not merely progress, but a revolution that is simply waiting to be unleashed. The credit for this goes to an initiative launched by the Indian government in 2016 called “the Startup India initiative.”
The companies are able to imagine having the agility of a startup while having access to a talent pool full of seasoned professionals in the sector. Among the many benefits that companies can get, this article will discuss the following three major benefits that a mid-sized business can get from India’s growth:
-
Expertise on Demand:
Remember the untapped potential found in smaller American towns? It isn’t just the case with the US anymore. Consider the Tier 2 and Tier 3 cities in India as talent pools waiting to be discovered. According to reports published by Deloitte and Nasscom, tier-II and tier-III cities are home to 11–15% of India’s technology talent now. On digging deeper, one can find out that in terms of new centers, employment growth, and talent pool, several Tier-II cities—including Chandigarh, Jaipur, Lucknow, Ranchi, Guwahati, Bhubaneswar, Vijayawada, Coimbatore, Mysuru, and Kochi—are experiencing rapid expansion.
Experts from a wide range of industries have been fostered by this economic expansion, resulting in a talent pool that transcends industries. Whether a company has a requirement for innovative graphic design, a complicated engineering undertaking, or is facing legal related difficulties, there are experts available from every field who are familiar with global regulations. It’s similar to having an international staff at one’s disposal, everyone with specialized knowledge of a particular industry.
-
Bridging the Gap Seamlessly:
The days of difficult international communication are long gone. India’s workforce, which has become more globalized, has excellent English language proficiency and a thorough understanding of Western business methods. It all began in 1991, when India undertook significant economic reforms that set the country on a course toward sustained global economic integration. These policies, which included the introduction of new global technologies, had a significant impact on the country’s changing culture.
“India is a relationship market,” this sentence sums up the type of work culture in the country. In their article, Global Business Culture explains how a solid basis for success in the Indian market is laid by fostering enduring, fruitful connections with your Indian colleagues and counterparts. Imagine effective communication, smooth cross-continental cooperation, and common objectives advancing your initiatives. Isn’t that a dream? The team functions seamlessly even when geographically separated, akin to having a virtual extension.
-
Scaling Up Without Limits:
Remember how dial-up was slower than the blazingly fast internet of today? This change is paralleled in India’s growth story. Imagine having access to a larger pool of talent, not only from large cities but also from Tier 2 and Tier 3 hubs that are full of exceptionally bright people. In an interview with The EconomicTimes, Managing Director of ABB India Ltd., Sanjeev Sharma, excitedly explains that his company feels very privileged to partner with the ambition of the companies in tier-2 and -3 cities. He further added that “Their entrepreneurial spirit, resourcefulness and wanting the latest technology solutions are the growth drivers.”
This results in new insights, economical fixes, and smooth operational scaling. Imagine using it as a way to tap into a secret pool of knowledgeable experts who are eager to bring energy to your endeavors. Unlocking any mid-sized company’s potential is key to India’s story, which goes beyond numbers. It’s about getting one’s hands on a vast pool of talent, knowledge, and creativity that is waiting to power any mid-sized firm. And what’s finest about it all? Menal Partners simplify the process of outsourcing, freeing a company to concentrate on their business expansion.
Take advantage of India’s remarkable growth story to propel your business beyond mere survival and witness it soar. Never forget that opportunity abounds in the future, which is already here. It’s the moment to take advantage of it, and Menal Partners can help you get started with their convenient outsourcing services. Together, let’s make your medium-sized company the next big thing!