Why had India been attracting foreign traders since ages?
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Answer:
India is a trading country that is why India been attracting foreign traders since ages.
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Answer:
India had been attracting foreign traders for ages because of its young workforce, cheap and abundant labour, technology skillsets, economic reforms, domestic demand, economic growth and FDI (Foreign direct investments)
Explanation:
- Foreign traders investing in India means that overseas companies set up their manufacturing companies here in India, they provide the services and produce goods.
- They do business in India that earns revenues. They create jobs for the locals and provide tax inflow to the government.
- Foreign traders are attracted to India for trading because of its large economy, abundant skills and talents, huge consumer market.
- India is strong in manufacturing digital and IT.
Hence, India is very attractive to foreign traders for ages because of all the facilities provided for them to make good money. It was predicted by economists that India will be the world’s 3rd largest consumer market and 3rd largest economy by 2030.
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