Know more about Indian Business Culture

India: A Land of Opportunity SIFE School of Management Studies Team

Case for India ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The Golden Temple, Amritsar, Punjab

Buddhist Monuments at Sanchi Qutb Minar and its Monuments, Delhi Khajuraho caves Madhya Pradesh

Largest Democracy in the World Dr. Abdul Kalam Azad (The President) Top Scientist Dr. Manmohan Singh (The Prime Minister) Economist Mr. Bharu Singh Shekhawat (The Vice President) Mr. P. Chidambram (Finance Minister) In a Hindu dominated nation, a Muslim hold the post of President & a Sikh hold the post of Prime Minister

Macro Economic Factors GDP $785 billion Forex Reserve $ 150 billion Income Par Capita $ 740.7 Exchange Rate 44.67 Rs = 1 USD Literacy Rate 64.8 % Unemployment Rate 7.32 % GDP Growth (2004-05) 6.1 % Population 1.08 billion Total Area (Sq km) 2,973,190.00 Growth Rate - Industrial (2004-05) 9.0 % - Construction 10.8% - Export (2004-05) 24.41% - Import (2004-05) 35.62% Export (2004-05) $ 79.59 billion Import (2004-05) $ 106.12 billion External Debt (2004-05) $ 123.3 billion

Major Exports ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Major Imports ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Differences between Indian Culture & Western Culture Relegated to Old Homes Women looked as objects of pleasure. Women are free in every aspect No religious ceremony is held without wife. Women given respect in traditional sense Respect for Women Old parents are not cared for. Sons are expected to take care of their Parents. Care of Old People Fashionable clothes the in thing No body exposures. Considered obscene. Public Appearance Believe in Materialism Strong believers Belief in Spiritualism Believe in hard work & efforts Strong believers Belief in Faith & Luck Western Culture Indian Culture Basis

Business Culture - India ,[object Object],Showing hospitality is part of the negotiation process. Often meetings start by offering tea/coffee and snacks. It is courteous to accept the offer.

Business Culture - India ,[object Object],Indians are 'polychronic' people, i.e., they tend to deal with more than one task at the same time. So be prepared for some distractions/ disturbances during the meeting, e.g., a secretary walking in to get some papers signed, or the conversation sometimes digressing into unrelated topics. One must appreciate that such behavior/occurrences do not show a lack of interest or attention.

Business Culture - India ,[object Object],PowerPoint presentations are generally accepted to start the discussion. It is necessary, however, to send a more detailed proposal in advance. Often, the details of the proposal are vetted by some middle-level executive, who will then brief the superior about them.

Business Culture - India ,[object Object],Indians usually do not express their disagreements openly and directly; doing so would be considered discourteous. Instead, when differences arise, they may circumvent them by statements such as 'we will discuss this later' or 'I will have to check with others about this.

Business Culture - India ,[object Object]

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[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Topics of Conversation

Colors Brahmins (High caste) Creation, Rebirth & Reincarnation White Alcohol Sudra ( Low caste) Death, Anger & Intolerance Black Heavens, Truth & Mercy Blue Wedding Dress Bindi Birth & Fertility Red

Doing Business in India ,[object Object]

Hierarchy ,[object Object],[object Object],[object Object]

Meeting and Greeting ,[object Object],[object Object],[object Object],[object Object]

Building Trust ,[object Object],[object Object],[object Object]

Meetings and Negotiations ,[object Object],[object Object],[object Object],[object Object]

Foreign Investment ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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