...October 12, 2009 Doing Business in India The seventh largest country in the world and the second most populated country in the world is located in South Asia. This country is known as India. India consists of different states which speak different languages. Hindi is considered to be the official language by the government. India has different cultural beliefs, values, religions, and politics that allow it to stand out from its neighboring and surrounding countries. India also sets itself on different standards in regards to handling business. When handling business in India, English is the language used. More Americans are seeking to do business in India. This paper will explore the different values that India stands upon in the business world to include, proper greetings, gestures, and professionalism. Avoid scheduling meetings on or near a national holiday in India. Punctuality for meetings is not a priority of Indians. If you are fifteen minutes late, it will be hardly noticed. When entering a meeting, a handshake is appropriate for greeting a male business associate. Shaking hands with a woman is not recommended unless it is initiated by the woman. If you feel as if a handshake is improper, it is safe to use Namaste. This is a traditional Indian greeting where the palms are brought together at the chest with a slight bow of the head. The meetings should first start off with some type of conversation. Do not expect to get straight into business. Indians like to take...
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...Doing Business in India India is a richly diverse and complex country. Regionalism, religion, language and status are all factors that need to be taken into account when doing business in India. Behaviour, etiquette and approach are all modified depending on whom you are addressing and the context in which they are being addressed. By tailoring your behaviour and approach to doing business in India you maximise the potential of your visit. Indian Society and Culture Language Different states in India each have different official languages. Central government only recognises Hindi as the official language of India. However, when doing business in India, English is the language of international commerce. Hierarchy * Indians are always conscious of social order and their status relative to other people, be they family, friends, or strangers. * All relationships involve hierarchies. The boss is seen as the source of ultimate responsibility in business. Every relationship has a clear- cut hierarchy that must be observed for the social order to be maintained. The Role of the Family * People typically define themselves by the groups to which they belong rather than by their status as individuals. Someone is deemed to be affiliated to a specific state, region, city, family, career path, religion, etc. * Indians maintain very close family relationships. The extended family creates countless interrelationships, rules, and structures. Along with these mutual...
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...Doing Business 2015 India Economy Profile 2015 India Doing Business 2015 India © 2014 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington, DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org All rights reserved. 1 2 3 4 17 16 15 14 This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved. This work is available under the Creative Commons Attribution 3.0 Unported license (CC BY 3.0) http://creativecommons.org/licenses/by/3.0/igo. Under the Creative Commons Attribution license, you are free to copy, distribute, transmit, and adapt this work, including for commercial purposes, under the following conditions: Attribution—Please cite the work as follows: World Bank. 2014. Doing...
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...1 BUSINESSES LOCATED IN INDIA Course Project Business Security and Globalization of Multinational Businesses Located in India John Doe Professor Juan Vigil GM594 – Global and Domestic Security Management Keller Graduate School of Management June 10, 2012 2 BUSINESSES LOCATED IN INDIA Abstract This paper will outline the background of the country of India to its present day. This will include a brief discussion on how the country has become an attractive location for businesses to establish a global footprint. In doing so, there are many aspects that must be considered when setting up a business of operations within India. Business security and what can be experienced when a business finally decides to take the step. This includes aspects of local governments, local culture, and employee pool, just to name a few. Then, there is the risk associated with doing business in India once the operation is established. This can include terrorism, government conflicts, and employee concerns. While there is a large list of security concerns for a business to consider before making this type of commitment, many can be avoided or at least minimized through proper planning. I will discuss solutions that can be implemented to reduce the amount of risk associated with the security adversity when establishing a global business within India. 3 BUSINESSES LOCATED IN INDIA Business Security and Globalization of Multinational Businesses Located in India Introduction Businesses...
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...Accounting International Project Doing business in a particular nation requires a focus on a multi-dimensional understanding of its culture and business practices. Understanding those differences and adapting to them is the key. In such a richly diverse and complex country as India it is difficult to impart generic conclusions that can be used by those doing business there. Regionalism, religion, language and caste are all factors that need to be taken into account when doing business in India. Behaviour, etiquette and approach are all modified depending on whom you are addressing and the context in which they are being addressed. The business culture of India is a reflection of the various norms and standards followed by its people. Indians have various cultural yardsticks, which extend to their business culture too. Thus, it is important that a person visiting the country has an idea of the business culture of India. Thus, it is important that a person visiting the country has some basic idea regarding the business ethics and customs followed here. Having a good grasp on Indian business culture will ensure that you succeed in maintaining a well-earned affinity with your business counterparts. The following tips will give them an idea of the working and business norms in practice here. These form the basis of doing business in India as well as closely connected to risks of doing business in India. • The 'namaste' forms an important part of Indian...
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...New Zealand Journal of Asian Studies 8, 1 (June, 2006): 17-40. DOING BUSINESS IN INDIA RODNEY SEBASTIAN ASHVIN PARAMESWARAN Australian National University FAIZAL YAHYA1 National University of Singapore In 1991, India’s closed economy opened up and attracted investments from several multinational companies (MNCs) around the world. As a result, people began to seek information about doing business in India, giving rise to a plethora of literature aimed at assisting them. Generally there are two prominent views of India. One is that India is a poor, under-developed country, lacking infrastructure and rife with religious superstitions, corruption and violence. The other is that India has an under-rated affluent and intellectual class, an advanced Information Technology (IT) sector and a rich culture. Neither view is entirely accurate. For those planning to do business in India, it is important that they are well informed of the real, complex situation in order to make calculated investments. Knowledge about doing business in India has to be constantly revised, updated and eradicated of biased or stereotypical views. A symptom of the maturity of this knowledge is recognition that the Indian business environment is amorphous. Conditions vary from state to state, industry to industry and region to region. This paper seeks to examine some aspects of this complexity and suggests how prospective investors could use the knowledge generated. Apart from Ramachandran’s (2000) acknowledgement...
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...Country Evaluation: India Describe the country of investment. Include the following: Economic structure, indicators and risk Throughout India the economic structure differs greatly from state to state. India is known for having one of the fasting growing economies in the world. This has a lot to do with the huge population in India. Capital, labor, and productivity growth have been the main contributors to the economic growth in the country. In recent years the Indian government has made great strides in strengthening the economy. Despite this push by the government there are still several very poor areas and the country still has a lot of uneven economic stability and because of this there is still a lot of room for improvement. The widespread poverty throughout India is one of the biggest challenges the country faces (Dasgupta & Chakraborty, 2005). For many years the Indian government had several rigid policies to discourage foreign investments but in recent years these policies have been under reform. Most of the growth that the economy of India has seen in recent years has been due to internal growth. The country depends very little on exports and this has been an advantage for their stability. When foreign countries have economic problems and in recent years when there are been global economic crisis, the effects are not felt as much on the Indian economy. India has a very good education system which is great for their economic growth. Unfortunately...
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...India, considered one of the biggest emerging markets in the world, is a country located in southern Asia with a population of over a billion people and its capital city being New Delhi (http://www.kwintessential.co.uk/resources/global-etiquette/india-country-profile.html.) The current leadership in India is implementing extensive changes to encourage international business in India, from privatization to the liberalization of trade (http://www.cyborlink.com/besite/india.html). India has more than fourteen major and three hundred minor languages, but the official language is English and Hindi. The Indo-Aryan ethnic group makes up seventy-two percent of India’s population, with 25 percent Dravidian and 3 percent Mongoloid and/or other (“Country Profile: India”). The market opportunity’s this country brings is enormous; the majority of this country is surrounded by water, thus making trade an appealing aspect. Furthermore, the country itself has a very abundant supply of raw materials with an improving rail system and India holds a very stable parliamentary government (“Country Profile: India”). In the following summary, I will provide you with greater understanding on how India’s business environment works and the benefits this country can bring to a company wanting to expand their foreign operations. The country of India has common laws with a written constitution ensuring the rights of individuals and property. Invasion of privacy by people is not spoken of in the...
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...Overview China and India provide vast opportunities for trade and investments in all major sectors. In the next few decades, China and India will join the U.S to become the three largest economies in the world. China and India will provide enormous upside potential for U.S. firms, as well as risks. Cultural System Doing business in a particular nation needs a multi-dimensional understanding of its culture and business practices. Understanding those differences and adapting to them is the key factor. India The Indian economy has been booming for the past few years. The country holds great promise for the future. The business culture of India is a reflection of the various norms and standards followed by its’ people. Indians have various cultural yardsticks, which extend to their business culture too. I found the following culture norms to be important: 1. “The ‘Namaste’ forms an important part of Indian etiquette and is generally used while greeting and saying good-bye. This gesture is performed by pressing the palms of both hands together (fingers up).” However, educated Indian men and women, who are acquainted with western customs, prefer shaking hands. Moreover, while greeting any individual use his or her title. To mark respect, you may also add a suffix ‘ji’ to the name of a person. 2. In India, companies follow a hierarchical system and the decision making is usually from the top to bottom. Business decisions could be at times time consuming, and International...
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...Coca Cola in India: Managing Cultural Differences Written By Kristina DeLong Jones International University March 14th, 2014 Americans value time. This means they believe keeping appointments and deadlines are very important. EDiplomat (2014) says that people who miss deadlines in America are viewed as irresponsible and undependable. Indians have a more relaxed sense of time. Unfortunately that causes some American business people to look at them as lazy. According to Compare Business Products (2010) Indians are not particularly renowned for their punctuality; they are perceived as laid back people who only watch the clock when it’s close to quitting time. When it comes to Americans they seem to live by “if it wasn’t documented, it never happened.” That means they feel the need to document most things on paper. Americans also use a lot of emails and text. This is very different in India because they don’t keep proper records. They also don’t usually know how to use proper email etiquette. However, they are very good at picking up any new technique. Numerous American companies push for large corporate meetings. Americans express their feelings and opinions much more freely than Indians. Indians are not used to much public speaking, but that is done frequently in America. Indians usually are more apt to express opinions in smaller groups than in large ones like it is done in America. Coca Cola should be concerned when doing business in India because they have expirations...
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...Business and Negotiation Practices India 08 Fall Prepared by: Andrew B India: Business and Negotiation Tactics Facts and Statistics Location: Southern Asia Capital: New Delhi Population: Estimated 1.2 billion Government: Federal Republic Main 3 Religions: Hinduism, Muslim, and Sikhism Business Etiquette When entering business with people in India, the first important thing to understand is the hierarchy. Of all the cultural influences that affect the Indian business culture, hierarchy plays a key role. Indian society operates within a framework of strict hierarchy that defines roles, status and social order of its people. Dress Etiquette When dressing for a meeting it is important to know that business attire must be conservative. This means dark coloured conservative suits for men and conservative suits or dresses for women. Women are also expected to have proper hemlines and skin appropriately covered. Meeting and Greeting When doing business in India, meeting etiquette requires a handshake. However, Indians themselves use namaste, which is a Hindu greeting. This is the act where palms are brought together at chest level with a slight bow of the head. Westerners are welcomed to partake in this tradition as it shows a sign of their understanding of Indian etiquette. It is also important to know that genders play a role in greeting. Men are ok to greet other men with a handshake but are not to shake the hand of a woman. They are simply to acknowledge...
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...labor cost is low in Bangladesh. The whole manufacturing process will take place in Bangladesh. On the other hand, India and China will mainly provide technology, idea, R&D and special equipment (if required). We have decided to go for joint venture, rather than exporting because, joint venture provides companies with the opportunity to gain new capacity and expertise. It will allow us to enter new geographic markets, that is, India or China and gain new technological knowledge access to greater resources, including technology and sharing of risks with them. China and India is not an easy market to enter, as from geographic point of view, they are vast and also they possess a total different culture. Again, it will be difficult for us to monitor and sustain. So, by joint venture, we will be able to penetrate their market and also to their culture easily and quickly through them as they already have enough knowledge about their market. EXTERNAL ANALYSIS – PESTLE ANALYSIS THE PESTEL ANALYSIS OF INDIA Political: (Stable) After researching the taxation and government policies, it can be said that India is politically stable and it will not upset doing business or growth of the company. India has an open system for the foreign entry. But sometimes the country faces ups & downs in the political sector. Tax rate in India is 30% for Indian companies and 40% for foreign companies. The foreign investments are highly encouraged as 100%...
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...Ana María Hoyos Business Law in China and India Which is more appealing to Latin America? The economy of the United States has been slowing down during the past years, leaving Latin American economies with no alternative but to look into further horizons. Both China and India have been growing and flourishing into attractive alternatives for Latin American businesses. These two fast-growing developing economies represent a great opportunity for Latin American countries especially because both India and China have showed their interest in doing business with Latin America. Additionally, the recent boom of Latin American leftist governments that are not fond of the United States has minimized the gap between the western south and these two Easter giants, increasing the need for joint business ventures and trading partnerships that contribute to the growth of China, India and Latin America. In order to evaluate the relation of Latin American countries with China and India, it is important to analyze the legal systems and regulatory business environments of the Chinese and Indian governments. By developing a concise comparison between China and India, this paper will eventually evaluate which country has more to offer to Latin American economies. Such comparison will be based upon aspects such as legal backgrounds and traditions, basic business regulations, trade laws and others, to finally conclude what sort of government is more appealing to Latin American economies. ...
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...to start an online business because it is rapidly growing business in worldwide but I want to start in India because country have 1.25 billion people this is the reason made me to start online shopping business in India. doing online shopping is an efficient and effective for consumers and In this generation most of the people using online shopping because they can find new products with reasonable cost and they don’t need any sale person to show the products, easily customers can select their liked products in to their carts, by doing online they save money and time such as paying cash on delivery and they can trail products such as cloths, shoe, pendent sets. Customers can find different products in one place that is online shopping. The main difference between my online shopping and others is software and product such as other online shopping merchandise use software from third party but I have own software to advertise and sell the products and we encourage new products in our online shopping, free delivery charges and weekend prices. It is a low cost business for me because I don’t want to buy any software from any one, reason my team developed a new software ‘nest a shop’. E-commerce is nothing but nutshell. Research question India is a viable option to start online shopping business Objectives To influence customer wants and needs through E-commerce How consumers responds to the products To fill the gaps between customer and E-commerce, doing homepage as a presentation...
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