1. 0 Introduction
Economics involves the options people make when complementing their unlimited needs and wants with a scarcity of resources. The term "economics" comes from the Greek words "oikos", this means house, and "nomos", this means manager. Therefore the term originally referred to management of family members. Today, the word has been broadened to make reference to firms and most of society. Another way of looking at economics is to consider the field as a couple of tools for studying people and communities and the options that they make. Accountants are trained to render an account of financial activity for a firm. Lawyers are trained into a certain method of thinking in order to handle issues in a legal construction.
Keywords: socio cultural environment of business in india
India has emerged as a potential and a diversified market for the Western organizations and other international investors. Earlier creating a company in India was a challenging task, but economic reforms, earned by different Indian government authorities over a period, have smoothen the span of entry for Western multinationals and other business magnets. Still it is considered difficult and a new proposal to do business in or with India, mainly because of its different business and socio- economic culture. European multinationals/ investors working with India up to now had to look at major changes in their business style to be able to serve effectively with their customers.