Need an research paper on business growth of china and india. Needs to be 9 pages. Please no plagiarism. China was one of the top recipients among developing countries which had an inflow of around 72 billion USD in 2005. While China had experienced already high growth rate, India’s growth rate was around 4% per annum. According to the World Bank, India’s growth rate was around 8.3% – 9.2% after 2003. Therefore, both countries are relatively attractive to British companies (Homlong & Springler, 2009).
India’s relation with the UK has strengthened with regard to business. Both countries have maintained a healthy relationship, for several years, in term of export and import and business relationship. In the whole European region, the UK is the largest business partner of India and compared to the whole world, the UK is 5th largest business partner of India. The import and export between UK and India had increased by 20% in the year 2005, i.e. £7.9 billion. The UK’s export to India had increased by 21.3% in the year 2005. The major items which India imports from the UK are non-metallic material, telecom tools, transport tools, industrial machinery, power equipment, gold, crude chemicals, vegetables and fruits (India Pakistan Trade Unit, 2008).
Tesco is the UK’s one of the leading retailers and the world’s third-biggest traders. This company has 4 business units which are the UK business, International Business, Retailing Services and Non –food. Approximately 4 million t-shirts and vests were sold in Tesco’s Indian stores, which accounted for 40% of Tesco’s import in the year 2004. Tesco provides low cost and quality products in India. Tesco supplies textiles worth 72 million USD annually. In the year 2004, the company’s revenue from India was around 67.5 million USD (Tesco, 2005).
India’s low-cost advantage for sourcing cheap but quality products is the major reason for attracting business. Tesco sources around 72 million USD of textiles from India annually.