India 's Development Of India

1357 Words6 Pages
The Make in India initiative launched by the Indian Prime Minister, Mr. Narendra Modi on 25th September 2014. The major objective behind the initiative is to focus on 25 sectors of the economy for job creation and skill enhancement. The sectors include leather, automobiles, textiles, ports, aviation, railways, mining, IT, chemicals, renewable energy, tourism and hospitality and wellness to name a few. It also aims at accelerating the GDP growth and tax revenue. This initiative also hopes to attract capital and technological investment in India. This initiative has helped create a positive vibe in the business environment. Businesses are now eager to take their investments forward and are looking for locations for local manufacture. With…show more content…
A myth eluding the luxury brand market for years has been that customers with their discriminating preferences and choices would not buy expensive goods online. They would opt for the personalized customer service and tactile shopping experience provided by the mono-brand brick and mortar stores. A major shift in this behavior of the customer had opened up doors for the luxury brands to capture a larger market share through e-commerce. Customers are not only willing to buy luxury goods online but are also comfortable with the undiscounted rates. India offers a vibrant e- commerce market with around 300 Internet users making it the second largest market after China. The growth rate has also led experts to believe that it may mature sooner than other economies. The emerging trend is the growth of the Internet retailing as a distribution channel in the luxury-retailing sector. Many designers are willing to compromise their exclusivity and enter the multi brand retail outlets for enhanced visibility and demand. The luxury brand giant Jimmy Choo has also started partnering with and to bring the overall shopping experience to the customer with the ease of a mouse click from the comfort of home. The other premium brands included in the section of include French Connection, ALDO, HiDesign, Mango, Tommy Hilfiger, GAS, GANT, Nautica, River Island and Steve Madden. The rising trend in Internet
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