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Introduction to doing business in India , Yogesh Kale
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Introduction to doing business in India
NTTE Nordic Trade & Technology Exchange
By
Yogesh Kale Director – 4Nature Oy
Moderator – Nordic Trade & Technology Exchange ( NTTE )
4N – Company business Case
• 4Nature OY Ltd manufactures and supplies Eco-Friendly Smart building material & solutions, with special focus on infrastructure capacity building in emerging economies.
• 4Nature has business activities in India, Nepal, Central & West Africa, Russia and Finland.
• NTTE – facilitates trade & technology exchange in addition to International Business Development for NORDIC companies looking for expansion in India & parts of Africa
NTTE Nordic Trade & Technology Exchange
NTTE Nordic Trade & Technology Exchange
Doing business in India
• 4Nature Oy - India experience – since June 2012
• Projects implementation in Bihar (a north eastern state) Maharashtra (western state) & New Delhi (national capital region)
• Current Projects in Konkan region ( close to Mumbai & Goa)
• NTTE – in existence as an informal advisory since 2010 – has been formalised as a company very recently.
NTTE Nordic Trade & Technology Exchange
India - Culture & Diversity
• India is a vast country & cultural diversity is enormous
• 325 Spoken Languages • 1652 dialects • 18 Official Languages • 29 states & 7 Union territories • Population 1,3 billion • Literacy : 66 %
NTTE Nordic Trade & Technology Exchange
India - Business
• Indian businessmen in general are sensitive & watchful of smallest of gestures
• Sell yourself before you sell your product or an Idea
• Hospitality is common practice.
• Feelings & relationships are important (for decision making) so it’s a good investment to build trust
• Indian businessmen in general are sensitive & watchful of smallest of gestures
• Sell yourself before you sell your product or an Idea
• Hospitality is common practice.
• Feelings & relationships are important (for decision making) so it’s a good investment to build trust
NTTE Nordic Trade & Technology Exchange
India Business Culture
• Do not underestimate Indians or India in any way
• ‘My way or the highway’ attitude will halt your journey before it begins
• Disturbances & distractions during a business meet is common, does not mean lack of interest.
NTTE Nordic Trade & Technology Exchange
India Business Culture
• New Ideas must be accompanied with endorsements & history of success, that could be verified
• First time Ideas (never implemented before) are usually a challenge to implement
• Disagreements are not aired openly & directly
NTTE Nordic Trade & Technology Exchange
India Business Culture
• Bargaining for price or concessions is very common, do not take it personally. Always keep a price buffer
• Flexibility in negotiations is expected
• Straight forward offers are not always a good idea
• Avoid insisting on commitments and decisions in your first meeting
NTTE Nordic Trade & Technology Exchange
India Business Culture
NTTE Nordic Trade & Technology Exchange
Some Significant Aspects
• India is a Heterogeneous Society, therefore differences due to region, religon, language & cast can vastly change the etiquettes, behavior & approach of people.
• HIERARCHY in business environment
• Respect for age & experience
• Women doing business in India will receive lot of respect & courtesies however has to SOMETIMES put in extra effort to close deals.
NTTE Nordic Trade & Technology Exchange
4N India experience – what helped us
• Building relationships with Dignity & self respect
• Establishing trust ( Not going to run away)
• BE CAREFUL – and always be on the right side of the law
• Right business partner.
• Not succumb to paying bribes, there are ethical ways too.
NTTE Nordic Trade & Technology Exchange
Concluding words
• There is no specific formula for success in Indian Business Environment - Having a right partner can certainly change your fortunes.
• Appreciate Price sensitivity & make that a part of your strategy
• Seeing is believing – foes for products & People.
NTTE Nordic Trade & Technology Exchange
Thank You
+358 45271 5151