Date: January 3 -11, 2015
Program Fee: $2,635 with nine participants
Course Descriptions and Rationale
This is a one-credit course that includes an international study trip to India in January 2015. The trip includes visits to numerous companies and other organizations in Delhi and Mumbai. In this course, we study (i) the fundamentals of international business, (ii) the environments and challenges of emerging markets, (iii) strategies and operations for succeeding in emerging markets, and (iv) specific aspects of business in India.
India is the second most populous country, with 1.2 billion people, about 15 percent of the world. The country has developed rapidly in the past twenty years, evolving from an isolated socialist state to a more free-market, vital member of the world economy. A culturally diverse nation, India is home to 15 official languages, across the country’s 29 states. Hindi and English are widely spoken. India’s civilization dates back some 9,000 years.
India has evolved into a leading outsourcing destination, especially for software, call centers, law, and other services sector industries. The country’s IT sector is well developed, and other top industries include pharmaceuticals, telecommunications, and automobiles. In the 1990s, the Indian government began reducing barriers to foreign trade and investment. Privatization of domestic output is progressing. The economy has grown an impressive 6 to 8 percent annually for the last two decades.
While agriculture remains an important sector, India is now the world’s third largest economy in purchasing power terms, with a huge retail sector. Per-capita income is approaching $5,000 per year. India's middle class will likely surpass 500 million by 2022. Economic growth has contributed enormously to reducing poverty, which remains a huge problem. However, industrialization has brought massive air, land, and water pollution. Poverty and ethnic strife remain important concerns.
In India, we will visit Delhi, the seat of national government and the largest commercial center in northern India. We will also visit Mumbai, the financial, commercial and entertainment capital of India.