Free Essay on Growing Economy in India

Accounting, finance, management, operations, and marketing are just some of the few subjects that MBA students learn to enable them to fulfill various business administration roles. The global economy of the 21st century is significantly different from that of that of the previous centuries. The modern economy has some emerging markets that are changing the way of doing business. As a result, India makes the best country for MBA students to visit because of the following reasons.

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India is one of the world's fastest-growing economies. As of 2018, India recorded a GDP growth of 7.4%, which made it the third fastest growing economy only behind Cote d'Ivoire and Ethiopia (MSN money, 2019). The trends that are shaping the 21st-century global economy such as outsourcing are all happening in India. The country provides an excellent opportunity for learners to understand the emerging markets and understand the businesses of the future. As one of the fastest growing economies, the positive change that is taking place in India is higher than that of many countries in the developing world. The MBA students will learn how they can position themselves to benefit from the growth that is coming over the next five or so decades. The students get to learn how companies seek to capitalize on this growth and remain ahead of the competition.

India is also preferable because of its status as a developing country. Currently, businesses are seeking ways to enter emerging markets. The global economy of the future is dependent upon the performance of emerging markets such as India. As a developing country, India provides an opportunity for businesses to benefit from their growth. The economies of developed countries such as the United States have reached a mature stage and companies operate in a somewhat stable environment. The stability in the developed world enables businesses to make plans decades into the future. However, in the developing world, the ground is always shifting, and business leaders have to contend with making decisions in a highly unpredictable environment.

MBA students also get an opportunity to learn business administration in an environment with undeveloped infrastructure. Unlike in the United States, the infrastructure in India is less than developed. The transport and communication infrastructure are a work in progress, and it presents considerable challenges to learners. The institutions are also a work in progress as legislators, and the government tries to iron out some imperfections in their systems. All these factors combine to provide the student with an excellent opportunity to learn to make do with poor infrastructures.

India has good diversity. The presence of various cultures in India ensures that the students have an opportunity to understand business management from several angles or perspectives. The cultural diversity of the people in India ensures that students can interact with people from different backgrounds. Variety is not limited to culture. The economy is also diverse with sectors ranging from infrastructure, pharmaceuticals, energy, consumer goods, and even agriculture. All these sectors provide opportunities for students to learn.

A visit to India will also turn out to be pocket-friendly compared to other regions of the world. According to StudentUniverse (2019), India is the third cheapest place for students to visit. There are cheap student hostels across the major cities that students could utilize. The meals are also affordable. With as little as 20 cents one can secure a satisfactory meal (Wharton, 2018). Also, the visitors don't have to part with a large amounts of money for them to experience leisure activities such as desert safaris, beach activities or sightseeing.

References

BIBLIOGRAPHY \l 1033 MSN Money. (2019). The world's fastest and slowest growing economies in 2018. Retrieved from MSN money: https://www.msn.com/en-au/money/financephotos/the-worlds-fastest-and-slowest-growing-economies-in-2018/ss-AAzN7pE?li=AAgfYrC#image=31

StudentUniverse. (2019). Top 10 cheapest countries to backpack. Retrieved from StudentUniverse: https://www.studentuniverse.com/travel-guides/top-lists/top-10-cheapest-countries-to-backpack-through

Wharton, N. (2018, January 01). Top 10 cheapest countries to visit in 2019. Retrieved from Goats on the Road: https://www.goatsontheroad.com/cheap-countries-travel-2018/