Doing Business in India
Doing Business in India sometimes may not be the easiest but it doesn't in anyway means that India can not improve its business friendly policies and initiatives, there is still a large scope (and continuously getting better) for business expansion and starting up. The companies/firms which are already doing business in India are planning to either expand their businesses or to increase the return on investment in 2012 by utilizing India's fast growing economy and the available new resources in a better way.
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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...
With the global economy seeing severe pressures on growth, company leaderships are huddled in a corner to find out ways and means to weather the storm. The impact can be seen on all large and small companies with of course some possible exceptional companies because of their foresight, balance sheet strengths or business model. By and large many of the firms we work with have become very cautious. They are no more looking at...
India is a hot destination these days (except for those eying very short term returns). More and more number of business visitors are coming to India to explore and capitalize on opportunities being offered in the country. However with these opportunities also comes its own sets of challenges which are unique for India. However you need not worry, these days the IT service sector has converted India into a service oriented economy and more...
With the economic environment slowing down, Indian firms are taking a pause (however this may not be a welcome pause). The rapid growth over the last 2-3 years has made the firms embark on projects in quick succession stretching their balance sheets and resources. The last month Industrial production figures of -5% growth is a validation of what many people have been seeing happening around them, over last couple of months. The sentiment is...
The Global Economy is facing strong headwinds – be it in Europe (PIGS turmoil), US (growth slowdown) or Emerging markets (slowing growth and high inflation for instance in India). This environment stalls companies’ expansion plans, and the overall sentiment takes a nosedive. As a result “Conserve Cash” takes the front stage and anything non-essential to run the business day to day, is locked and stocked in the cupboard. While this is a very natural...
As someone, truly remarked – We Indian’s are high emotional even in business. When the going looks good, we project it to be great and when it looks decent, we project gloom and doom. We magnify it either ways. In 2008-09, when the global economy was in a turmoil and India was growing @7% GDP it was considered an exceptional performance. In 2011-12, the global economy is in a turmoil and India is likely...
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...
We recently worked for a large MNC in the Indian market (venturing into new business) on competitive benchmarking and we were impressed by their use of competitive benchmarking research and outcome. Normally Benchmarking (defined as “the search for industry best practices that will lead to superior performance” by Robert C. Camp) is used to compare the organization’s processes or products to other organizations, either internal or external to their own industry. This comparison can...
You may listen to different excuses/comments while starting/doing a business partnership with Indian distributors. Here is a list so that you can be enough careful before disclosing your hard earned business reputation and financial strength. Let’s reduce the price and enter, we will build the relationship and then increase prices…would be one common comment you are likely to hear from quite a few distributors. Most of the time, the distributors demand is just in...
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...
