Business Partners in India
Finding a Business Partner in India or even in any country is not an easy task especially when you are looking for a business partner for long term business association and which fully understands your needs. For making the task somewhat easier there are certain things that should be kept in mind, below are some of those.
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The Finance Minister has delivered on one of the most critical aspect in this Budget – fiscal consolidation. The budgeted fiscal deficit for FY2014 at 4.8% of GDP is in line with market expectations and the indications given by the FM a month back in the various country roadshows he undertook . In terms of the fiscal deficit for FY2013, the Finance Minister has exceeded expectations and reined it at 5.2% and it is...
The total Personal Protection Equipment market in India is estimated at around 150 Mln US$. This is growing at a rate of 12% p.a. This market is still at a very nascent stage in the country with respect to its awareness, acceptability and size. As a result there are quite a large number of local unroganised players also participating in this market- the reason being there is a large chunk of the market still...
Equaling his organization to a plane and requesting a change of engines while maintaining altitudes – this guy is thinking out of the box! The first one I met in a long while and one of my first intense interactions with a full blown “Chairman and M.D.” of a growing firm from Udaipur. I was excited. Employed by an IT major then, I was sure of providing a cracking Consulting Solution to this organization...
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One of the challenges faced by global SME’s entering India is to connect with the right partners. There is a strong entrepreneurial culture in India, but since they have mushroomed over the last few years, they have their own work culture- which could be very varied. As with bigger firms, SME’s also need to keep in mind not only the organization competencies but also the organizational culture fit of the prospective partner to get...
Recently, I faced a problem in identifying distribution network for products which are at stage of nascent technology implementation or the industrial products which are yet to be popularized for mass usage in Industrial segment. To identify and build channel partners in emerging market for such a products is much more difficult. However, we discussed internally and seek expert advices and overcome problem of identifying channel partners by exploring and implementing following ideas: Advertise...
This write-up is from a perspective where a global firm is looking for an Indian business partner and not where the Indian partner already has a need and is looking for a Global firm. In the second scenario the balance of power shifts to the other side. Avoid being too optimistic on closing the deal quickly – Unlike before lot of companies in India are fairly diversified. They have a big portfolio and they...
With all the action in the Indian economy, Indian SME’s want to capture their share of the pie. They however also understand the limitation they have in terms of resources and competency. As a result they are seeking out business partners, with whom they can forge a mutually beneficial relationship. The kind of partners they are looking for are: Companies strong on technology – Which will help them to capture the evolving demand from...
When a global company with no setup in India is seeking a channel partner company , they go about in the following ways to identify the prospects: Meet the prospects in events, trade shows, seminars, trade delegations… Secondary Research (trade portals, websites..) to find out and then connect with them References through colleagues, other firms Using a mediator (office, consultant, embassy…) Just flipping the question and saying when an Indian firm is seeking a...
The Solar energy sector in India is witnessing unprecedented activities. With the Ministry of New and Renewable Energy (MNRE) of Government of India announcing the Jawaharlal Nehru National Solar Mission (JNNSM), the interest in the sector has gone up and new opportunities are presenting themselves for anyone wishing to enter this industry. The JNNSM guidelines stipulate that the entire grid connected Solar PV plants in India coming under the scheme will have to use...
We were working for one of the companies to help them find business partners in India. There were a few strong partners identified and amongst the discussions, the topic of free samples came up. Free samples for initial cases, is often a point of discussion in India. The prospective distributors wanted to get free samples. The Indian partners wanted free samples to test the concept so that they can prove for themselves and for...
We are taught never to bite the hand that feed us. Generally speaking that is pretty good advice, but if same hand is slowly starving you, or giving you food that’s spoiled? Now what if we have to sacrifice our growth for such type of channel network? What would you do to expand business …? Over the years I have learned that balance between channel partner’s profitability and organizational expansion needs can be achieved...
