Recipe to Invest in India

Recipe to Invest in India

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.