It has a huge population of over a billion people, which constitutes a vibrant workforce as well as an attractive customer base. More than 50 percent of the population is less than 25 years of age, thereby making a significant segment of the workforce youthful, dynamic and upwardly mobile. Added to this, the country’s long history of democracy and its legal constitution offer a stable business and political environment.

Over the last decade, India has emerged as an attractive investment option. The globalisation initiatives of the Indian Government, the growing purchasing power in the hands of the vast middle class segment, the enormous reserves of foreign exchange and the overall stability of the exchange rates have added significant muscle to India’s ability to attract overseas investors.

In this new dynamic environment, the Indian Government is actively looking at ways to trigger exponential growth in the manufacturing sector. Mitsui has already drawn up plans to partner with the Indian Government in this endeavour by investing in Small and Medium Enterprises. For Mitsui, this is a natural extension of its global business model — the organisation already has more than 1100 affiliated companies worldwide.

Another business model that the company is considering is to establish Complete Business Units (CBUs) — for instance, the Indian automobile industry is currently experiencing rapid growth and requires various components to keep its manufacturing processes running smoothly. Mitsui plans to set up CBUs that manufacture such components.

Its long association with India also enables Mitsui to gain an in-depth understanding of the complex challenges and modalities of operating in a country where taxation and excise rules and regulations keep changing from one state to another. Mitsui seeks to use this knowledge base to help other companies to bridge the divide and successfully do business with India. In this way, Mitsui can play a key role in fostering new business ties and initiatives across the Indian Subcontinent.