India – Relocation’s rising star

India’s economy is booming, and with it the mobility sector. We asked some of the country’s leading relocation professionals which industries are leading the way, what the latest relocation hotspots are, and where Indian companies are sending their assignees.

 With China’s economy in the doldrums, Indian government figures show that India has retained its place as the world’s fastest-expanding major economy, with growth of 7.6 per cent in 2015/16, up from 7.2 per cent the previous year.Despite the challenges of poor infrastructure, high levels of corporate bad debt, and low job creation, the future looks bright for the vast and diverse subcontinent.

Recent start-up Saffron Relocation provides UK companies moving to India with immigration, logistics, property and settling-in services. It has offices in London and Gurgaon, and a pan-India satellite presence.

Why does Saffron’s head of UK operations, Mark Proctor, feel the time is right for this new venture? “India,” he says, “is experiencing ever-increasing interest from overseas, and expansive growth in foreign direct investment (FDI) year on year. With this, a significant number of multinational companies are setting up their operations in India. FDI increased by 26 per cent in 2014/15 from the previous year, and this trend is set to continue in the coming year.

“With the recent downturn in the Chinese economy and the subsequent pessimism as to future prospects for growth in China, India, which has stayed relatively immune from the slump, is widely seen as an increasingly favourable destination for investment. Many Asian countries, such as Japan and Korea, have long seen India as a hedge against China – an ally with a perfect synergy that will allow these countries to remain competitive in the global marketplace.