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India's Industrialization and Economic Challenges

   

Added on  2020-10-05

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CONTEMPORARY ISSUESIN BUSINESS1
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................92
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INTRODUCTIONContemporary business issues can be referred to as an event, opinion or ideas which isrelevant to present scenario. Companies have to face several issues due to continuous change inbusiness environment. Major issues faced by global companies, due to the new businessenvironment. Besides this the multinational corporations have to face several challenges andproblems due lack of proper facilities and resources which are required for smooth functioning ofbusiness. These contemporary issues have direct as well as significant effect on businessperformances of firm. The present report has focus on identifying the major issues faced by companiesoperating their business in India. It also emphasizes on analyzing the implication of Goals9:industry infrastructure and innovation upon India.MAIN BODY India is developing country, companies planning to expand business in this specificmarket has wide scope of growth. But at the same time, business entities have to prepare for thevarious social and business issues which might hinder their growth. These issues are required tobe address and deal quickly, as this factor can have great effect on the sustainability ofcompanies.Some major social issues are:Poverty: Increase in poverty is another major issue. India has been ranked at third positionamong the poorest country in the world. Some of the basic problems faced by people living insociety are lack of health care facilities, limited access to resources, and high level of illiteracy.Illiteracy: Thisis considered to be as major issues faced by society. Illiteracy means inability toread and write. Illiteracy in India has led to the high level of unemployment in the nation. It hasalso resulted into slow economic growth. Illiteracy is the major factor which has contributed toincome imbalances etc. This issue has created the major barriers in the development of society.Corruption: Social corruption include adulteration in edible items, less weighing of products.Corruption can have effect on society is that it might lead to low level of democratic culture.Corruption also leads to depletion of country wealth (Kopnina and Blewitt, 2018). This is the3
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