5 Secrets For Breaking Into India's Booming Market

GeorgeJackson1

• Establish trust right away
  

The first thing to do before beginning business in India is to earn the local people’s trust, to the point of developing a personal relationship with the potential partner.

• Bargain
  

It’s also important to know that in Indian culture, it’s customary to bargain – always, even after signing a contract. From the Indian’s point of view, as long as money hasn’t changed hands, you can continue to bargain. This requires a lot of patience and negotiation.

• Quantity, not quality
  

When developing products for the European or American markets, quality comes first. Those are two markets with massive purchase power that aren’t put off by a higher price for high-quality products made with environmentally friendly materials. In contrast, the Indian market wants a simple, reliable, and cheap product.

• “Make In India”
  

In 2014, India launched “Make In India,” where exporters are required to assemble and/or manufacture their product on Indian soil. This is a strategy for acquiring new knowledge and creating jobs. It’s tricky for tech entrepreneurs in terms of transferring corporate secrets, but it’s an important part of the game.

It’s also important to note that Indians prefer locally-made products, even if they’re inferior quality. Unlike the Chinese, who are experts at copying products, Indians prefer to acquire the formulas to manufacture locally.

Another point to consider about India’s great size is that what works in the north may not necessarily work in the south. To work effectively in India, the company must establish a physical presence locally, whether through local representatives, a partnership with the local company, or other options.

• Indians Don’t Say “No”
  

There’s no word for “no” in Hindi (sic). It simply doesn’t exist. Therefore, the word “yes” has a wide range of meanings. There are several ways to say no. Indians shake their heads from side to side, which means, “I heard you, but neither agree nor disagree.” You can take this ambivalent answer in any one of several ways, for who knows what the speaker means.

Big opportunities come with big challenges. For a startup to be successful in India, you must be able to see your Indian partner as an equal, lower prices, and produce the product cheaply and in great quantity. There’s no doubt that in the end, your efforts will pay off.

leesam3

Make in India is a great initiative.

arjuns1988

I would like to point out that there is a word for 'no' in Hindi & it's pronounced as 'nahi'.
The reason why a foreigner would not hear a definitive no is because, the opposite person might just come up with an answer for his/her query. So, they first try to eliminate all the possibilities which wouldn't solve the problem & use the left out to arrive at the required solution. Even after this if they couldn't solve the problem, they will say no.
The cross-nod is usually not understood. But, to put it simply, it means that 'I hear you, let me work on it & get back to you later.' You see, just a simple cross-nod says so much in so little time.
We are a bit impatient to solve the issue at hand. Especially if the money is involved as  a reward for your actions. Everyone is in a hurry to make more. The root cause can be identified as the income disparity among us while we grew up. However, the income disparity is reducing these days.
Just my opinion. Would love to hear your thoughts on this.

parivijesh100

Most important is positivity & respect increase by IndIan & transparency brought in system by present Govt, supporting initiatives like infra investment, improved life of poor people & many more.

karthikcet

Ease of doing business has improved under this government but more reforms are required

Srinivas1939

With  a burgeoning middle class the Indian market has matured  and quality awareness has grown with a value for money concern.The govt has made it easier to do business in India but the Indian consumer can no longer be taken for granted.

parivijesh100

Look, Indians of new generation need quality product & have no patience to go through many shops & select item after testing it except nay be jewellery & to sme extent costlier electronic gadgets. With support like immediate delivery, free replacement without any hassles,  door step after sales support & easier payment mode have flicked young generation to them. Now grocery segment is attracting them.