India in transition and new business opportunities

India is a fast developing country and Indian society is in its transition face. Our cultural values, social structure are changing with growing economic development. An important thing to notice here that we are following western countries in many ways and the process is still incomplete.

This transition is taking place in every aspect of life. Our lifestyles are changing. And this changing lifestyle calls for a lot of new products which will suit this change and will create value for us by helping us to adapt with this change. For instance our traditional families had a family security net. But with growing number of nuclear families a whole BIG BUSINESS OPPORTUNITY in terms of various kinds of insurances have opened up.

In some European countries Government provides a huge security net and in US everybody is ensured with various insurances. On the other hand in India there is a huge section of people for which thinks that insurances are wastage of money. They are not aware about possible kinds of insurances and they do not directly realize the need for these insurances. For instance a family may be spending 500 rupees per month on health expenditure without even knowing this. If they are made to realize that they are spending so much money on health and they are given option of Health insurance they might be willing to take it. There are opportunities for other insurance products like JOB INSURANCE etc. also. These opportunities can lead to successful businesses but a huge amount of resources need to be invested because it would be needed to change perception of a large section of people. Companies will have to focus on making insurance a normality in Indian life. And these companies will also be creating value for the Indian society in this manner.

On broader sense we can say that with Indian society in transition face there is a need for various products which make Indian life better. Certain western countries are already enjoying these products. This need for products can be converted in to successful businesses provided business is executed effectively. It can lead to big fortunes for many of us.