It is impossible not to be astonished by India a land of magic and mystery. A dizzying creative burst of cultures and religions, races and tongues. A land of contrasts both modern and innovative, rapidly changing on one side and traditionally conservative and culture conscious on the other. It is also a land undergoing dramatic change. Change, which will be far reaching as India attempts to define its identity in the modern era.
With these changes comes great opportunity as India builds itself for the New Millennium.
India's present economic evolution can be compared to that of the United States and Japan in the 50Գ and 60Գ. In the 1960Գ, in the United States, exciting new companies like McDonaldԳ, IBM, Wal-Mart and Walt Disney were penetrating vast new markets and experiencing tremendous growth. These companies went through a market inception period followed by market growth and have now entered into a mature period. Today, these companies dominate their respective markets in North America and have instant name recognition worldwide.
At this juncture in history the huge emerging marketplace of India offers the same exceptional opportunity to companies with proven corporate models with a medium to long term approach to value creation.
Until 1991, India had been held in a cocoon by excessive legislation and socialism in an economy that was relatively closed to the world. Sweeping economic reforms initiated in 1991 along with the countryԳ strong embrace of globalization culminated in a totally free market economy in April 2001. This process provides access to the worldԳ second most populous nation with the largest middle class within the global economy.
Tremendous entry-level opportunities currently exist in numerous areas that need to be satisfied by the demands of a huge consumer market. This market is intent on, and capable of, purchasing modern goods and services, and of capitalizing on the exchange of knowledge based products and services in the global economy. India is now poised to undergo massive growth and represents a tremendous economic opportunity.
"There is no parallel example in the world of a country of IndiaԳ size and diversity seeking to bring about a massive social and economic transformation in the framework of a democratic policy and an open society committed to the rule of law and individual freedom."
— Dr. Monmohan Singh, Finance Minister of India, 1991 Architect of IndiaԳ Economic Reforms RIRIC has moved quickly to target key areas and to gain first-to-market rights for India in areas identified by the Indian government as essential priority infrastructure sectors and also to capitalize on IndiaԳ greatest export ’brain power’. The company has solidified important projects in many areas:
In Urban Infrastructure and Housing, it will be importing the world leader in prefabricated building systems.
In Real Estate Development, the building out of IndiaԳ premiere landmark super block in New Delhi. In Communications, RIRIC has one of IndiaԳ first leading edge National Wireless ISP systems built on low-cost future-proof network architecture generating seven major revenue streams developing a virtual instantaneous market place, with firms like Cisco and Lucent Technologies participating plus the building of IndiaԳ first national push-button dispatch system.
In Entertainment, RIRIC is building a fantastic Walt Disney style entertainment park, a concept new to this market, utilizing world class development technologies of Wonderworks.
RIRIC has been successful in staking its claim in key Indian markets, matching them to specific services and technologies with leading world-class corporations Πintroducing them to the extraordinary opportunity the awakening giant presents.
Manoj C. Benjamin
Chairman and CEO
Royal Indian Raj International Corporation
