India Market Prospects for Hong Kong Companies
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This paper explores the various technological advantages that have been identified to impact business organizations in the international markets with the advent of globalization. Globalization is the economical integration of countries and this is ensured via uninhibited financial flow and trade. This is mainly facilitated via mutual exchange of knowledge and technology. In regard to most companies in Hong Kong, there are considerable facts that could attract their technology source in India. This paper examines the technological aspects that would be of great concern for Hong Kong companies intending to penetrate the Indian market.
Technology Impact on the Indian Market
India has been one of the countries that have contributed positively towards the international markets development with regard to technological advancement. Technology has been an important ingredient for the welfare and development of many business organizations. Moreover advanced internet connectivity has facilitated outsourcing of Indian labor by the international market. This is well exemplified by foreign companies which outsource customer care to Indian run firms situated in India. The French company Cap Gemini has more personnel at the Indian base than its headquarters in France. India is well placed as a frontier of information technology and its most outstanding IT companies are WNS, TCS, Patni, LnT InfoTech etc. Most noteworthy is the manner in which mobile phones have revolutionized and greatly redefined connectivity to the international markets. In the face of harsh economic conditions it’s inherent for all companies to embrace technological advances in order to sustain growth (Malik, 2011).
Nearly all current business processes have been automated and t should be an important issue for Hong Kong business organizations as they have to incorporate computer literacy as an objective. It’s also through computer technology that business firms will develop into the international markets by getting timely information on various business aspects such as changes in price, demand and supply levels. According to Reddy, (2004) India has majored on disseminating technology based on different factors majorly economics, setting management policies and strategies at international markets and financing means. These factors should be taken into account during the planning stage before infiltration into the Indian market. This will ensure the successful entry and sustained growth of the Hong Kong companies.
Hong Kong companies could also implement the technological advancements in relation to efforts made by the Indian Institute of Science in order to become respectable players in the international scene. There are sustainable ways of development that would cut energy costs as well as water expenses through implementation of innovated means of sourcing. Over time technology has played an important role in the development and gaining stabilization of the international markets. However India is characterized by decreased production processes and minimal level of imports that are high-tech. The chemical industries have high concentrations of high-tech exports (Lemoine & Kesenci, n.d.).
India has achieved a globalised state of economy and this has intensified the general interdependency and competition amongst various economies operating in the world market. This has been achieved through established international policies and conditions that are sustainable when production and marketing levels are technologically based. In this respect, new ventures will be able to contribute through assimilation aided by fast means of communication and transport. Trading linkages are vast and they are clearly distinguished from domestic policies as well as operations. India’s economic development is largely determined by international and foreign policies as well as economic conditions (Ahuja, 2000).
In conclusion, Information and communication Technology has been known to impact positively towards sustainable development of Hong Kong companies in the global market. Income resources are geared towards development as venturing industries implement advanced technological innovations to stabilize in the international markets.