| Welcome to the May issue of ValueNotes Connect.Despite being hailed as an emerging economy with rapid-growth potential, India is fast acquiring a reputation for being a difficult place to do business in. In the World Bank’s “Ease of doing business” ranking, India has been stuck for the last couple of years at 132, out of 185 economies.
What are the challenges faced by businesses in India, and how can they be overcome?
In her first blog, Varsha Chitale gives us insights into the lesser known peculiarities of the Indian business culture. In her next piece, she goes on to discuss what makes the country such a daunting place for foreign entrants, and how they can reduce their risks when doing business here.
Vast economic, social and geographic diversity, unbalanced development of sectors and a predominantly heterogeneous and multilingual population – Tejaswee Shrestha tackles the issues that come with conducting online surveys in India.
On another note, we had a great response to our webinar on gathering actionable market intelligence in India. If you missed out on it, you can watch the recording and download the presentation here.
We hope you enjoy reading our newsletter, and as always, we look forward to your comments.
Warm regards. |
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| The less talked-about aspects of the Indian business culture |
| by Varsha Chitale |
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Understanding the local business culture is an important pre-requisite for doing business in any foreign country. Some common pointers include differences in work-life balance, management structures and pronounced hierarchies, business and social etiquette etc. However, there are other lesser known and talked-about aspects of the Indian business culture that impact business decisions… |
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| Online surveys in India – When do they work? |
| – by Tejaswee Shrestha |
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Online surveys are fast replacing conventional methods of data collection across the globe. But are they effective in the Indian market? Our economic, social and geographic diversity are the biggest challenges here – not everyone has access to the internet, is technologically savvy and speaks the same language. However these challenges are not insurmountable and it is possible to tweak surveys in order to get reliable data. |
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| Is India frightening to do business in? |
| – by Varsha Chitale |
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India has acquired a reputation of being a difficult place to do business in. Navigating the complex regulatory environment and cutting through the red tape isn’t possible for foreign businesses without the aid of a local partner. While multinational firms can afford the best consultants, the smaller firms end up getting duped. Effective due diligence on local partners is the key here. Without this, India is indeed a scary place to do business in. |
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