Intralink: Why India Should be Your Next Growth Market

Thomas Shiekman, SVP at international business development consultancy, Intralink, outlines how US technology companies choosing India as their next growth market can benefit from unmatched scale, resilience, and talent – all in one nation.

WHY INDIA SHOULD BE YOUR NEXT GROWTH MARKET

India is undergoing a fundamental transformation – and for US technology companies, this represents a once-in-a-generation commercial opportunity.  

The country’s entrepreneurial energy is converging with talent development, trade ambition, and innovation-led policy reforms from Prime Minister Modi’s pro-business government, designed to attract global capital and advanced manufacturing.  

As we witness the development of one of the world’s most dynamic deep tech ecosystems, my question to US CEOs is not ‘Does India matter to your company?’ but ‘How quickly can you build a successful business there?’ 

THE MACROECONOMIC AND TALENT IMPERATIVE 

India’s most obvious attraction is its mind-boggling scale. Its $4 trillion economy – now the world’s fourth largest – is projected to multiply eightfold by 2047.  

With more than 900 million digital users, an increasingly affluent consumer base and a median population age of just under 29 – almost a decade younger than in China, Brazil, and the US – India’s demographic trajectory ensures decades of rising demand. 

But what really differentiates the country is the ambition of its talent. It produces one third of the entire world’s STEM graduates, and these young professionals are eager to solve global problems and build for international markets.  

This means it’s time to plan your India strategy. The country is no longer a low-cost offshoring base; it’s a hub for innovation, entrepreneurship, and advanced manufacturing. And it’s the place to build your company’s future. 

POLICY, CAPITAL, AND DEEP TECH ALIGNMENT 

Government programs such as Make in India and the Production Linked Incentive (PLI) Scheme have accelerated investment in high-value manufacturing, while the Digital India and Startup India initiatives have helped to create the world’s third-largest startup ecosystem.  

New deep tech programs – including the National Deep Tech Startup Policy (NDTSP), a $1 billion India Deep Tech Alliance (IDTA), and the $12 billion Research, Development, and Innovation (RDI) Scheme – are positioning India as a center for research and advanced technology development.  

And these are combining to make the country an attractive destination for foreign investment. 

In addition, for US companies, this environment is creating a strong corridor for co-development and technology transfer across sectors that are strategically important to both countries, such as semiconductors, quantum, and cleantech. 

It also makes India an essential pillar for any US company’s ‘China Plus One’ diversification strategy. 

FIVE HIGH-GROWTH OPPORTUNITIES FOR US TECH 

1. Advanced manufacturing – US firms are already taking advantage of the Indian government’s support and deepening their ties with the country. Lam Research Investor Relations and Applied Materials, for example, are expanding their respective engineering and training operations in India as part of broader semiconductor cooperation. Applied Materials’ recent $500 million contract win to modernize an Indian semiconductor fabrication facility – delivered with Tata Electronics and Cyient – shows the power of localization and partnership. Venture investors are also backing Industry 4.0 leaders such as Georgia-based GreyOrange, whose artificial intelligence (AI)-driven warehouse automation is enabling India’s next generation of smart factories. 

2. Electronics and IT – India is now the world’s second-largest smartphone producer. Apple’s shift of significant iPhone production to India from China underscores this momentum. Electronics output has grown more than sixfold in a decade, with exports up eightfold. Indian manufacturers are rapidly scaling capabilities in high-value components – from multilayer printed circuit boards and camera modules to enclosures and sub-assemblies – supported by clearer policy signals, streamlined incentives, tariff rationalization, and alignment with global quality standards. 

3. Clean energy, electric mobility, and AgriTech – India is rapidly advancing its sustainability efforts across energy, transportation and agriculture. This progress is driving strong demand for new technologies that tackle global sustainability issues. 
   US companies are already in the frame. Enphase Energy, for instance, is expanding in India’s rooftop solar market through local engineering, production, and construction (EPC) partnerships. E-Fill Electric and DevvStream are monetizing carbon credits to scale electric vehicle (EV) charging infrastructure, while BioSTL and AgVayā LLP’s Global AgXelerate platform is connecting US AgriTech companies with Indian markets and helping deploy technologies such as regenerative agriculture tools. 

4. Medtech and life sciences – US healthcare firms are increasingly moving their IP to India. For example, GE HealthCare’s largest R&D center outside the US – based in Bengaluru – has developed an advanced Positron Emission Tomography (PET) and Computed Tomography (CT) scanner for global export. And Zumutor Biologics is leveraging India’s R&D strengths to accelerate its immuno-oncology pipeline. Private equity investors are also consolidating India’s strong base of Food and Drug Administration (FDA)-compliant manufacturing to scale contract development and manufacturing organization (CDMO) capacity. 

5. Defense and aerospace – General Atomics, Skydio, and other US firms are already co-developing software frameworks, AI models, and drone components with Indian partners. And, under the India-US Defense Acceleration Ecosystem (INDUS-X), Indian startups are working with US primes such as Northrop Grumman, RTX, and Lockheed Martin in areas including satellite observation and emerging space technologies.  

HOW US COMPANIES CAN WIN

Success in India requires commitment. It’s not a market you can understand or win over through fly-in visits and remote management.  

The country’s 28 states and eight union territories operate in distinct cultural and commercial environments, so your approach must be localized, nuanced, and sustained. 

Take these three steps to put your business on track for a rewarding future in India: 

1. Localize your products and pricing. India’s markets are complex, diverse, and value driven. Companies such as Netflix have succeeded by tailoring offerings to local expectations – the company has introduced mobile-only subscription plans at lower prices to cater for price-sensitive viewers and invested heavily in original Indian content. 

2. Build strategic partnerships. Trust matters. The right relationships – not the largest partners – unlock opportunities. Track record and credibility are also important as is a visible commitment to engage appropriately. 

3. Commit resources on the ground. India rewards presence. In-market teams, leadership and engineering facilities significantly improve credibility, long-term trust, and commercial traction. 

THE BOTTOM LINE 

India has emerged as a growth market, innovation hub, and manufacturing powerhouse – fully aligned with US economic and national-security priorities.  

For US CEOs seeking scale, resilience, and talent, the nation offers all three in one market. 

This is not the moment to watch. It’s the moment to act.