| India Market Entry |
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Why India?
Indian economy has been witnessing a phenomenal growth since the last decade. The country is still holding its ground in the midst of the current global financial crisis.
Despite the global slowdown, the Indian economy is estimated to have grown at close to 6.7 per cent in 2008-09. The Confederation of Indian Industry (CII) pegs the GDP growth at 6.1 per cent in 2009-10. This scenario factors in sectoral growth rates of 2.8-3 per cent, 5-5.5 per cent and 7.5-8 per cent, respectively, for agriculture, industry and services.
A number of leading indicators, such as increase in hiring, freight movement at major ports and encouraging data from a number of key manufacturing segments, such as steel and cement, indicate that the downturn has bottomed out and highlight the Indian economy's resilience. Recent indicators from leading indices, such as Nomura's Composite Leading Index (CLI), UBS' Lead Economic Indicator (LEI) and ABN Amro' Purchasing Managers' Index (PMI), too bear out this optimism in the Indian economy. |
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| Advantage India |
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- According to the World Fact Book, India is among the world's youngest nations with a median age of 25 years as compared to 43 in Japan and 36 in USA. Of the BRIC—Brazil, Russia, India and China—countries, India is projected to stay the youngest with its working-age population estimated to rise to 70 per cent of the total demographic by 2030, the largest in the world. India will see 70 million new entrants to its workforce over the next 5 years.
- India has the second largest area of arable land in the world, making it one of the world's largest food producers—over 200 million tonnes of foodgrains are produced annually. India is the world's largest producer of milk (100 million tonnes per annum), sugarcane (315 million tonnes per annum) and tea (930 million kg per annum) and the second largest producer of rice, fruit and vegetables.
- With the largest number of listed companies - 10,000 across 23 stock exchanges, India has the third largest investor base in the world.
- India's healthy banking system with a network of 70,000 branches is among the largest in the world.
- According to a study by the McKinsey Global Institute (MGI), India's consumer market will be the world's fifth largest (from twelfth) in the world by 2025 and India's middle class will swell by over ten times from its current size of 50 million to 583 million people by 2025.
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India as an Outsourcing Capital of the world
In today’s competitive environment, outsourcing makes perfect business sense. Large companies have discovered the importance of outsourcing by off shoring their functions to countries like India and other Asian countries way back. The logic is very simple- do away with non core areas in your business and focus on your key strengths. While there may be functions in your business that are important but if the key to your growth is in marketing, focus on it. Why handle the entire gamut of activities? Simply outsource.
India is truly the outsourcing capital of the world and outsources from clients all over the world from data, software, back office jobs, accounting, financial analysis, biotech, clinical trials, radiology tests, medical transcription, animation, legal work to just about everything.
Multi- million enterprises have sprung up by providing good quality services to customers around the world. There is no doubt that the level of service and quality is impeccable and still improving, therefore many corporations around the world are off shoring their work to Indian companies. It is a myth that one needs to be a big company to outsource their work. Anything from a few hundred pounds to a thousand pounds of work is also being off shored. The mantra is “reap maximum benefits and gain by outsourcing”! |
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“India Entry” by SMC
One of SMCs areas of expertise is to assist businesses with market development and finding right business partners in India.
Many companies are unable to realize the benefits of penetrating overseas markets as it is commonly perceived as too complex or high risk. Today, any business doesn’t have geographical boundaries so it is natural that businesses replicate their offerings to other countries typically to emerging economies like India. It is also important that while exploring International markets is a lucrative proposition, one needs to find the right partner with whom you can develop a synergy and work together.
That’s where SMC plays an important role. By utilizing the expertise of SMC, we are able to work on your behalf to simplify the process and capture overseas customers without the high costs involved in trying to promote your products yourselves. We act as your partners in scanning the right prospects, correspond, negotiate on your behalf till you find the right business partner in India. |
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Services offered for “India Entry” :
- Researching your Product Potential
- Business Planning
- Marketing and Sales Consultancy
- Location Advice
- Documentation and Government Formalities
- Distributor/Channel Partner Search
- Technology Transfer
- Joint Ventures/ Tie-Ups
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Consultancy services for Off Shoring Partner Search
- Selecting Off shoring Partner
- Scanning Credentials and Track Record
- Running a Pilot Project
- MoU and Contractual Obligations.
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| Process Flow for “India Entry” : |
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Research & Analysis - Training - Tie ups - Siddhi Management Consultants
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