Introduction to Doing Business in India

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Introduction to doing business in India , Yogesh Kale

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Introduction to Doing Business in India

  1. 1. Introduction to doing business in India NTTE Nordic Trade & Technology Exchange By Yogesh Kale Director – 4Nature Oy Moderator – Nordic Trade & Technology Exchange ( NTTE )
  2. 2. 4N – Company business Case • 4Nature OY Ltd manufactures and supplies Eco- Friendly Smart building material & solutions, with special focus on infrastructure capacity building in emerging economies. • 4Nature has business activities in India, Nepal, Central & West Africa, Russia and Finland. • NTTE – facilitates trade & technology exchange in addition to International Business Development for NORDIC companies looking for expansion in India & parts of Africa NTTE Nordic Trade & Technology Exchange
  3. 3. Doing business in India • 4Nature Oy - India experience – since June 2012 • Projects implementation in Bihar (a north eastern state) Maharashtra (western state) & New Delhi (national capital region) • Current Projects in Konkan region ( close to Mumbai & Goa) • NTTE – in existence as an informal advisory since 2010 – has been formalised as a company very recently. NTTE Nordic Trade & Technology Exchange
  4. 4. India - Culture & Diversity • India is a vast country & cultural diversity is enormous • 325 Spoken Languages • 1652 dialects • 18 Official Languages • 29 states & 7 Union territories • Population 1,3 billion • Literacy : 66 % NTTE Nordic Trade & Technology Exchange
  5. 5. India - Business • Indian businessmen in general are sensitive & watchful of smallest of gestures • Sell yourself before you sell your product or an Idea • Hospitality is common practice. • Feelings & relationships are important (for decision making) so it’s a good investment to build trust NTTE Nordic Trade & Technology Exchange
  6. 6. India Business Culture • Indian businessmen in general are sensitive & watchful of smallest of gestures • Sell yourself before you sell your product or an Idea • Hospitality is common practice. • Feelings & relationships are important (for decision making) so it’s a good investment to build trust NTTE Nordic Trade & Technology Exchange
  7. 7. India Business Culture • Do not underestimate Indians or India in any way • ‘My way or the highway’ attitude will halt your journey before it begins • Disturbances & distractions during a business meet is common, does not mean lack of interest. NTTE Nordic Trade & Technology Exchange
  8. 8. India Business Culture • New Ideas must be accompanied with endorsements & history of success, that could be verified • First time Ideas (never implemented before) are usually a challenge to implement • Disagreements are not aired openly & directly NTTE Nordic Trade & Technology Exchange
  9. 9. India Business Culture • Bargaining for price or concessions is very common, do not take it personally. Always keep a price buffer • Flexibility in negotiations is expected • Straight forward offers are not always a good idea • Avoid insisting on commitments and decisions in your first meeting NTTE Nordic Trade & Technology Exchange
  10. 10. Some Significant Aspects • India is a Heterogeneous Society, therefore differences due to region, religon, language & cast can vastly change the etiquettes, behavior & approach of people. • HIERARCHY in business environment • Respect for age & experience • Women doing business in India will receive lot of respect & courtesies however has to SOMETIMES put in extra effort to close deals. NTTE Nordic Trade & Technology Exchange
  11. 11. 4N India experience – what helped us • Building relationships with Dignity & self respect • Establishing trust ( Not going to run away) • BE CAREFUL – and always be on the right side of the law • Right business partner. • Not succumb to paying bribes, there are ethical ways too. NTTE Nordic Trade & Technology Exchange
  12. 12. Concluding words • There is no specific formula for success in Indian Business Environment - Having a right partner can certainly change your fortunes. • Appreciate Price sensitivity & make that a part of your strategy • Seeing is believing – foes for products & People. NTTE Nordic Trade & Technology Exchange
  13. 13. Thank You yogesh.kale@4nature.fi +358 45271 5151 NTTE Nordic Trade & Technology Exchange

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