India's the focus for marketeers

The best solution often pops up in a crisis. With the economic downturn, an increasing number of companies seem to be closely reviewing their marketing strategy. From cars to software, emerging markets for now seems to be the only opportunity. Laden with oversold and undersold customers, markets like India could potentially be a marketeers delight. At a time when stakeholders are crying for optimal use of resources and organizations worldover seek cost effective resources - skills and raw materials, countries like India gain prominence. Take for instance IBM, which is leveraging India as a market and also a talent hub. The company recorded a growth of 27% (to be confirmed) in 2008 in India. Cisco is no different. GE Medicals, in its attempt to make India a strategic center for its global healthcare equiptment market is investing $25 mn in a special laboratory in Bangalore that would simulate the complete environment of a hospital to test new products. The company expects to double its revenue from India to $1 bn in three to five years. Further, GE healthcare is also looking t targeting Indian home healthcare market with sleep care and home respiratory system.
Added to this is the focus on tier II and III towns in India. With sanity prevailing across the unreasonably paid workers ecosystem in India, several of them are moving to the outskirts to cut costs - especially the exorbitant rent. This should eventually pave way for development in the periphery, pmlying further growth in the market. Add to this the reverse brain drain, Indian market is all set to be an attractive destination.