ATLANTA, GA (FEBRUARY 21, 2014) -- While the government in India is working toward improving the nation’s infrastructure, more and dramatic changes are needed to sustain the rapid pace of business growth being driven by the nation’s large population and investment from multi-national corporations.
Without the improvements, companies with headquarters locations and satellite offices in India face an uncertain future, according to a research report released today by CoreNet Global, the world’s premier association for corporate real estate executives and workplace professionals.
Corporations in India face a myriad of infrastructure-related challenges:
What Is Being Done?
The government in India has made strides toward improving the nation’s infrastructure by creating a strategy and plan for increased spending, the creation of Special Economic Zones (SEZs), and the encouragement of public-private partnerships.
Overall progress, though, has been slow. This has been due recently in part to the fact that in 2012-2013, the economy grew at its slowest pace in a decade at five percent. High levels of inflation, slowdown in key Indian sectors, such as mining and manufacturing, as well as a sharp descent in the value of the rupee against the US Dollar (USD), have all been key factors in this slow growth
And from the perspective of the corporate real estate executive, “there needs be a large, structural overhaul (of the intfrasturcture) to deal with some of the issues faced by businesses,” according to the report. Until these issues are solved, “there is impact on short-term and long-term strategy in terms of location, workplace initiatives, and portfolio optimization, amongst others,” the report stated.
To see a copy of the full report, click here.
About CoreNet Global
CoreNet Global is the world’s leading professional association for corporate real estate (CRE) and workplace executives, service providers and economic developers. CoreNet Global’s 8,000 members, who include 70% of the top 100 U.S. companies and nearly half of the Global 2000, meet locally, globally and virtually to develop networks, share knowledge, learn and thrive professionally. For more information, please visit www.corenetglobal.org