Whitefield, located approximately 120 miles south of downtown Bangalore, is the second-largest city in India. The city is also home to the prestigious Asian conglomerate Birla Family Investments. It has been a popular destination for travellers and ex-pats alike for several years now, with a growing number of companies centring their business centres there. With that being said, it’s no secret that Bangalore is a hub for global brands and ex-pat communities alike. This makes Whitefield an attractive destination for companies looking to set up shop here permanently or temporarily. Here are the top ten trends affecting your decision-making process in Whitefield, 2018:
The Indian-origin workforce is more desired than ever
There has long been a perception among natives of countries where English is their native tongue that it is less valuable and important than that of a variety of other language families. That perception is unproven, but it does appear to be changing as more and more companies are rediscovering the invaluable value of the Indian workforce. According to a study, 36% of Indian respondents said they would be more interested in moving to a location with a higher percentage of Indians in that location. As the Indian diaspora continues to grow and more Indians start to move to India, the demand for human resources will only accelerate. There was an increase in the number of Indian businesses seeking to find work in Whitefield and its surrounding areas, which can be attributed to the increasing number of Indians choosing to set up businesses in the area. In the last year alone, 12 Indian companies set up their permanent or temporary bases in Whitefield.
Small-scale industry boom in Whitefield
This trend is also tied to the fact that companies are seeking to build up their global presence in the region. This bold move by Birla Family Investments to establish a manufacturing unit in Karnataka will only strengthen the bond between India and the western hemisphere. The company’s operations are already worth a wallet-sized portion of the total company value, and the manufacturing activity will only add to the already impressive list of attractions for travellers to India.
The ex-pat community is on the rise
This trend can be said to start in Whitefield. The ex-pat community in Whitefield is on the increase and it’s no secret that people of European, African and American descent are now the majority population in the city. These communities have historically been attracted to the vibrant and diverse metropolis of Bangalore, but now the majority of people in the city are from other regions of the world. Expat communities in other cities are also growing and thriving, however, and remain a popular choice for young professionals looking to settle in South Asia.
BVR School is a popular choice
This school is known for its quality education and its offering of alternative disciplines to the traditional subject areas. The school has been in operation for over 30 years and it has a large number of alumni now. The school is also famous for its close ties with the educational system of other Indian states. It has been associated with the teaching of English in South India for decades, and the school is now offering courses in the language in addition to offering courses in other traditional subjects. The school is also a part of a network of private schools that offers English as a language education in many parts of India.
Company culture and transparency are key factors in choosing the city for business decisions
This is the first trend we’ll touch on in our list. The saying ‘it’s not what you see, but what you don’t see’ can be applied here. Companies are starting to think about their business culture more than ever before. It’s no secret that business leaders in many different fields have turned to social media and other online platforms to make business decisions. Now, it’s the leaders of big companies starting to think about the culture at their core. No longer will the focus be on the sales and marketing efforts of the company, but on the people who work for the company and make the decisions on which products and services will be sold and how.
Economic freedom is still a must for company executives moving to India
This is the trend that has been taking centre stage in India right now. Having said that, entrepreneurs and investors should not lose sight of the fact that India is still an incredibly expensive country to start a business in. This means that people are going to have to be willing to spend a significant amount of money to get their feet wet. The question is, how much of that $300,000 or even $500,000 that they want to invest in their business will have to be borrowed? The answer is that there won’t be a lot of cheap loans available in India, and the interest rates on some loans will be so high that it will be very difficult for Indian entrepreneurs to get a loan that they can afford. Entrepreneurs and investors must have a plan for how they are going to finance their projects. If they have a plan, then things will be much easier for them.
Bottom line
At the end of the day, this is a great time to pick up a business map and get ready for the journey. The Indian market is still very much a work in progress. The number of entrepreneurs and investors who are willing and able to step into the light and start their businesses in India is still very much limited. It is a very exciting time to be in business in India and it will be an even more exciting time once the government has made changes that ease the process for all kinds of businesses. While the Indian market is definitely a great place to start a new business, it is also a very competitive market that will grow with time.