Starting a business in India
Deep knowledge of a market is a key factor to success anywhere. Inadequate research will almost certainly result in failure.
A country as diverse as India inevitably brings with it diverse needs and tastes, as well as a multitude of different regulations, industrial relations laws and tax legislation.
Invest time in becoming familiar with the culture and business practices of India, and develop a thorough understanding of the specific market and target customers you are considering.
India strategy
You should develop an India strategy before deciding how to launch your business there. In particular:
- Avoid going into India cold. Get a foot in the door first
- Take care when selecting advisers, partners and contractors
- Choose a business structure based on research specific to your industry, your objectives and the product or service you are offering
- Be directly involved in the setting-up process
- Allow time for bureaucracy – both filling in forms and waiting for approvals. India is not a single market. Profound differences can exist from region to region, from industry to industry, and market to market
Download a copy of the India Country Starter Pack to access detailed information to kick start your research of the Indian market – including what to look for and where to find it.
It includes advice on the major considerations and decisions you will need to factor in to launching your business venture such as choosing a location, hiring an interpreter, assessing potential risks of operating in unknown territory (and planning for them), as well as potential structures for your business.
Want to learn more? Explore our other India information categories or download the India Country Starter Pack.