New market to trade: Indian opportunities
Nowadays many companies try to find new trade markets for the business. Entrepreneurs have several criteria for choosing the market: economic situation, opportunities for business, protentional customers, local laws, etc. How to understand the flow of information? Ahlers will help you and your business.
India is high-rising niche to start the business. Entrepreneurship and startups are increasing in the country. The Government of India also provides many benefits to encourage and promote startups. However, establishing your own business requires a lot of work.
Economy
In 2022, the world economy slowed down, but in the long run it will grow, and India could become an economic leader. India is expected to become the third economy in the world by 2030. India would be able to become a world trade market because of low levels of urbanization, very cheap labor with targeted policies to attract investment, a rapidly growing middle class and the Government’s efforts. Low energy costs are now added to these positive factors. English remains one of the official languages of India, which is convenient for foreign investors in localization of production and export-import operations.
What areas of business deserve attention?
Education. Indians love to study, despite the low level of education taught. That is the reason why people in India appreciate business connected with education.
Finance. Despite all the achievements in digital spheres, there is a huge sector of the informal economy in India, which uses cash and seeks to get out of the control of the state. In many ways, to solve this problem, the government actively supports the development of digital financial services.
Cybersecurity and personal data protection. There are not many experts in India who understand network security. Therefore, foreign companies can significantly expand their influence in this area.
Features of doing business in India for foreign companies
Even though the Indian state in every possible way encourages the entry of foreign business into the local market, there are some features of entrepreneurship in India that can put foreign companies in a difficult position.
- High competition. In the country, many entrepreneurs are engaged in several types of activities at the same time, which makes it difficult for new companies to overcome barriers to entry into the market.
- Different mentality. Due to the difference in communication style, views on doing business, and cultural values, it may be difficult for foreign companies to cooperate with Indians.
- Never say no. When entering into partnership agreements, Indians will never say "no" to your offer of cooperation. They promise to think about it, consider it later. Indians take a responsible approach to any business, so negotiations can take a very long time.
How to start a business in India?
You can ask Ahlers to help you to market your products and outsource everything from transportation, import, customs clearance to distribution in the Indian market. Advantages of working with us:
• Customs registration and certification. We have knowledge of local specifics and experience working with customs and keep all the documentation necessary for the import of your goods.
• Working with the supply chain. This includes the main actions related to the construction of commercial logistics: international transportation, customs clearance and certification, labeling of goods, their customs storage and distribution.
• General corporate service. This includes actions aimed directly at the development of trade: the entire cycle of order fulfillment, legal support and implementation of contracts, management of resource planning and data exchange, trade finance, accounting operations and personnel management.
• Tailor-made solutions. We consider the goals and needs of our clients, offering individual, reliable, and long-term solutions.