India is today one of the world’s most populated countries, with more than one billion people. Moreover, it is a rapidly growing financial hub with thousands of new businesses and industries mushrooming daily. The vastly large subcontinental nation has more than 50 progressive cities with millions of people living there.

India boasts of a large network of banking and other financial institutions. Indeed, this is the secret behind the phenomenal growth of the country's economy in recent decades. The thriving financial markets are well-spaced out in different regions and states that make up the country. What are the important factors to consider if you wish to invest in India? Let us consider a few.

The ABC’s of Business in India

Patience:

You will find that carrying out business in India can be a slow process. Why? From times past, India's marketing agencies and business people have demonstrated that they always love to take their sweet time! Most business people are, therefore, never in a hurry. Instead, they prefer to do elaborate planning and then take some time to think about whether it is worth their while to indulge in any kind of venture, or not.

Perhaps, in this large, beautiful country, the adage that says ‘time is money' may not always have meaning. Perhaps, we may as well change it to something like: ‘Money is timing right.' We could also quote another wise saying that may be perfectly applicable here: ‘When you go to Rome do as Romans do.' If you wish to establish a successful business relationship with a local company or group of persons, just go slow. Never be in a hurry. Give them time to explain their understanding of your proposal. Give them more time to reach a decision on the good proposal. And give them a little more time to ‘put the goods on the shelf,’ so to speak.

New York

Of course, this might take days, weeks or even months. Regardless, you must learn to be patient in India. Once you master this simple rule, you will have discovered the perfect recipe for success in this country. Is this fact unique to India? Perhaps not.

A careful study of the business structure in other countries reveals that businesses in many progressive cities of the world actually follow a similar pattern. It does not matter whether you do your business in London, Paris, New York or Hong Kong. Successful business people will typically take their time, and when they reach a decision, it will be a sound decision, leading to good profitability. So, learn to be patient!

Travel

Remember that, business in India is not just confined to one specific region or place. If you plan to start a business in India, it is vital to learn the art of travelling to many locations for business. You will need to visit many places, branches and departments of the enterprise to achieve a significant growth of your business.

Some of the largest markets and businesses in India are located in megacities like Mumbai and Delhi. This is a major secret in succeeding in business in India: To make your business expand and thrive, you must learn to develop a travelling instinct. This is both important and necessary. You cannot hope to start a thriving business venture in India simply by running your business in one place or region.

Time Management

India happens to be among the majority of countries which follow a 9 to 5 strategy for dally business timing. In spite of adhering to this common system, you will find that, most business-minded people in India tend to organize lengthy business meetings in order to plan and strategize. Indeed, some meetings typically start early in the morning, and last until late in the evening!

Many business people like to commence their procedures and meetings late. Does this surprise you? Of course, anyone who is new to such a regime or system of doing things must learn to be flexible and adaptable to issues of time management.

Last Minute

Sometimes, you will also have to deal with changes in the last minute, regarding a scheduled business deal or meeting. Learn to be patient, flexible and adaptable to such situations. Yes, changes, and more changes, comprise an essential part of the process in Indian business.

You should be ready for such potentially disruptive final minute rescheduling of business lunches, meetings, conferences, or dinners, with important appointments being rescheduled, postponed, or cancelled just before they are due to take place! Yes, again, learn to develop a flexible attitude with regards to time-management here. This would be potentially beneficial, doing you plenty of good, as a new entrepreneur in India.

China is one of the nations that have consistently maintained its high ranking position in matters of consumer confidence and business investment opportunities for a long time. Further, China also attained great success in the global markets mainly due to her progressive business policies and processes. We can now examine some of China's leading industries that have cemented her current position as a leading world economic giant.

1. Electric Vehicle Industry

Many people may not know that the Chinese market is actually the largest ever motor vehicles market. In 2018 alone, a staggering 23 million automobile items were sold in China, in 2020 it was 25.3 million!. The breakdown of these impressive sales is even more interesting. In that year, more than 1.1 million cars were sold. Chinese sales accounted for more than 55% of all electric vehicles sold worldwide. Since 2014, China's sales in the electric vehicle category grew ten times. Experts predict that, in 2019, more than 1.5 million electric vehicles and cars will be sold in this country.

It is notable that the Tesla corporation successfully introduced the high-quality, low emission vehicles into the Chinese market. The company did this in great style, selling more than 1000 of these new models in just two months since introducing their business in China.

Aiways (in photo)

With a mission to solve the mobility challenges of tomorrow and drive forward progressive development in the automotive industry, Aiways was founded as a start-up in 2017 by the Chinese entrepreneurs Samuel Fu and Gary Gu. Development of the U5 started with a blank sheet of paper and the desire to make electric driving as enjoyable, exciting and affordable as possible. From ordering to use. A few short years later, the global Aiways network comprises a highly innovative, digitalised plant in Shangrao (China) with an annual capacity of 300,000 vehicles, an R&D centre and a design centre in Shanghai (China), a battery factory in Changshu (China) and the European Sales Centre in Munich. At the company's headquarters in Shanghai, a team of experienced engineers, technical specialists, designers and industrial experts work with top-class partners along the entire supply chain.

High-Quality Cars

That was not all. The electric vehicle industry also ventured to introduce high quality vehicles into the Chinese market. This move greatly benefited the hordes of luxury goods consumers in China.

This type of industry also did much to encourage a resurgent spirit of business consumer trends. Interestingly, all this happened in spite of stringent government policies that affected Infrastructure, extending acquisition and offering a tax break to consumers. The environment, at this point, was, clearly, not conducive to new investment ventures but businesses just soldiered on. The result was excellent profits.

2. Consumer Goods

The prevailing consumer trends in China are mainly governed by several new companies that have brought in innovative products of a domestic nature into the Chinese market. Through such companies, many goods can now be found in china that could not be found just a few decades ago. Further, the source of this good economic tidings in China can be traced to this introduction of new products and consumer goods alongside recent economic expansion.

Moreover, some international brands have not been left behind in this exciting new development. They have not hesitated to bring in their goods into the ever expanding market. Their main focus has been on distribution matters and sales building.

Some of the latest phenomenon from such brands include flavoring and squeeze-packaging of goods. As a result, China's consumer class has been growing rapidly with this introduction of new innovative goods into the country's prosperous global market.

3. Online Shopping

Many online shopping networks originating from the US have proved to be quite successful with Chinese consumers since they deliver safe, high quality products. These goods include make up items, consumer goods, clothes, food products, shoes, electronic items, cosmetics, mobile accessories, and many other products that are introduced into the vast Chinese market.

The total value of home- shopping and online industries in China was recently estimated at around $9.3 billion. Indeed, 39 of such home -shopping networks are presently active in China, working mainly through some leading television networks. Certainly, the home- shopping industry in China has gradually resulted in the rise of millions of highly demanding consumers and a growing economy, largely driven by consumer needs.

4. Fashion Trends

China is increasingly becoming one of those places in the world where fast fashion trends are valued, leading to the development of the fashion industry. New fashion trends, are therefore, part of the engine that drives the modern Chinese economy, giving credit to a highly enhanced economic state of China.

Every passing second, the fashion products in China are always increasing in volume and value. Gradually, it has become a good source that supports and facilitates consumer demands. Such online fashion trends also help users to become better acquainted with all emerging trends and associated products in the China market.

5. Chocolate Companies

China has hordes of consumers that includes some 1.3 billion people. These generally consume everything, starting from candies to many other products, including cars. Moreover, the so-called Chocolate companies have also achieved great success in the Chinese market.

Interestingly, China itself sells relatively few chocolates. She has gradually developed into a high consumer of foreign chocolate products. The leading foreign companies mainly succeeded to break into the Chinese market, taking advantage of the consumer demands that called for 'new' varieties of high-quality flavors and tastes.

India happens to be among Asia’s most developed countries. Indeed, the country boasts of a long history associated with progressive business trends and industry success. Truly, for decades, the people of India are long used to matters of trade, industry and commerce.

This is not all. India’s famous art, religion and architecture are all issues of a regional talking point. Other sectors of the economy that are similarly doing well include agriculture and tourism.

IT Hub

The government of India has done much to invest in the fields of technology, especially IT. Indeed, the government has prioritized innovation and science as the beacon of hope for the nation’s future. Interestingly, India’s automobile industry has also come of age and can today compete with some of the best known names in world industry.

Moreover, this industry has provided a golden opportunity for many investors to flock into the country, seeking to share in the capital investment, ready to reap the windfalls. The structure of India’s life is such that the people put a lot of premium on the service industries as compared with business. This leaves the doors wide open for hordes of investors to seize advantage and introduce new businesses here.

Holidays

If you plan to invest in India, it is essential to consider a few important factors. For instance, you must understand some customary concepts, and quite a few cultural issues, including the respected holidays and sacred religious days. Indeed, India has many cultural and religious holidays. These constantly change depending on a particular calendar or religious year that should be observed. Most of these holidays are usually sanctioned and encouraged by the various state governmental structures. If you plan to visit India whether for personal or business reasons, make sure you know about the impending religious or other sacred events or days. It might be better to keep off during such occasions, unless you want to get involved with that.

Formalities

While visiting India, you will have to deal with different forms of formalities. It would be important to get used to this, since it is beneficial for a visitor who wants to start a business in the thriving Indian market. You will find that most people prefer to deal with others politely. This is the accepted norm of courtesy.

Take note of this: Some business people in India may not discuss issues with you honestly and frankly. This is until they develop a measure of trust in you personally and your business interests

Go Slow!

Investors who expect to get quick success in India should start rethinking their strategy. Patience and the art of waiting are seemingly the engine of this country's economy. If you are ready to take your time and wait for the fruits to come, then you have mastered the art of success here. Why is this so?

Businesses in India are generally not known to thrive fast. It takes quite some time to achieve this. The famous adage comes into play here: Patience pays. Those who have learnt to be patient will eventually reap big.

Festivals, Rituals

Happily, you can find many ways to invest in this country even if you have a 9 to 5 job. As noted, India is a country that is full of festivals and rituals. If you move around, you will discover many holiday and vacation places, whether at the state or local level. These festivals and celebrations usually take place from time to time. For you to succeed, you should make a good schedule that works to ensure the growth and success of your business.

If you are smart, you can easily explore and conquer the Indian business, industry and market. Many sectors of the economy are literally begging to be developed and grown.

Huge Market

Further, India has a population that exceeds one billion people. This is potentially a huge market for investors to exploit. Yes, the Indian government actually expects new investors to move in and bolster the country’s economy.

In the past, the agricultural sector got a huge blow. The Indian motor vehicle industry is today a major source of growth for the country’s GDP. Interestingly, as of now, the IT sector is ripe for new investors who can introduce new ideas. New Investors can, therefore, benefit greatly by bringing in such innovative investment in this progressive country.

South Korea is a distinguished and respected financial giant in Asia. Going back to the history of this leading Asian country can be quite intriguing. Remarkably, in the 1960s, South Korea was considered to be among the world’s poorest countries. Today, the country ranks high in the world economic map, reputed as the 11th largest economy globally, going by the nominal GDP.

Speaking about Korea, from the early 1960s to the late 1990s, the country’s economy picked phenomenally, to the extent that it is today listed among the leading economies, not only in the Asian market but also globally. What caused this remarkable growth of a country that has long weathered many storms? Let us consider a few of these factors.

Industrialization

The government of South Korea contributed significantly in this great economic progress and financial development. How was this done? The government bravely introduced the policy of Industrialization. Moreover, it decided to place premium on the industrial production of commodities that would be taken to foreign markets.

As a result of these progressive strategies, by 2014, South Korea was ranked among the top 13 largest economies in the world. This came about due a strong policy of active production and exportation of goods.

South Korea also managed to succeed in her efforts to expand countless production processes, including cultural products, electronic goods and supplies, manufacture of vehicles, production of ships and manufacture of industrial goods that were sold in the world markets.

Export System

South Korea is today regarded as among the world’s most developed countries due to her sterling efforts in the exportation of high quality commodities and products.

Production

By 2014, as noted, South Korea ranked among the world’s top economies in terms of export capacity. At that time, the country exported almost $573 billion in terms of merchandise. Today, South Korea is doing quite well as a leading exporter of all types of goods, including textile goods, chemical products, industrial products, consumer items, assorted commodities, food stuff and many other products.

South Korea’s most recent exports amounted to almost $ 11,400 worth of goods for women, children and men. This value of exports is quite significant, representing relatively large figures when compared, for instance, with exports from the US which amounted to $5100 worth of goods in the same period.

Petroleum

By the same year, 2014, the top exports from South Korea also included some $48 billion in petroleum products, $56 billion in semiconductors, $43.5 billion worth of vehicle exports, $22.5 worth of passenger ships and cargo and about $22 billion valued in LCD screen products.

Certain world famous electronic and semi-conductor firms that are associated with South Korea include LG, Hyundai, Samsung, and SK Hynix. Other leading industrial automotive companies like the Hanjin Group, KIA motors and auto industry labels like the Hankook Tyre also contributed significantly to the Korean economy.

Service Exports

Some significant service exports from South Korea include sectors like tourism, transportation services, cultural and entertainment product licensing and varied financial services. What are some of these entertainment, cultural and export products that have catapulted South Korea to its current high status? Some of these include advances in music, film licensing, and television industries. These economic segments have played a significant role in the development of South Korea, leading to the country becoming a highly successful industrial export hub for the last several decades.

Moreover, in 2014, the country exported some $106 billion worth of such service export products. Remarkably, this raised South Korea’s star to reach position 9, thereby becoming one of the world’s largest economies.

TV Series

Further, especially from the late 1990s, some of South Korea’s most loved creative works like TV Drama series, along with Korean music, also became quite popular all across the Asian region. To date, many of these are still highly praised and watched in large parts of the Asian region and the entire world. Interestingly, the Gangnam Style, which is a blockbuster video movie, is still widely regarded as one of the greatest successes coming from the South Korean pop culture.

GDP

South Korea is today ranked as among the largest export-based economies in terms of service and product exports. According to expert analysis statistics, the total exports coming from South Korea by 2014 comprised 50.6 % of the country’s GDP. This compares quite well to some leading industrialized nations of the world like China, the U.S, and Germany.

It is interesting that available data indicates that the main reason for South Korea's stunning development record is associated with the country's massive exportation of goods to the Asian and global market.