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BATTLE PLANS: How to win in India
DO:
your homework. India is a diverse nation with wide regional variations in language and business practices. “The ones who are successful are patient and take time to understand business and culture there,” says Peter Nesbitt, the Export Development Corp.’s regional manager for Asia.
DON’T:
underbudget. Relationship-building and meeting India’s legal and administrative requirements means you’ll need “three to four times more time and money versus doing business in Canada, the U.S. or Europe,” says Murray Jans of the Canada-India Business Council.
DO:
find a local partner to help you track down key decision-makers and navigate the complex political and regulatory structure, including where under-the-table payments must be made. Local knowledge may also help you avoid being trapped in the slow-moving Indian judicial system.
DON’T:
go there to make a quick buck. “Transactions are relationship-driven,” says Nesbitt. “People like to get comfortable with you before agreeing to enter into any transaction.” Visit in person and let prospective clients get to know you.
DO:
ask detailed questions about India’s tariff and approval structures. Import regulations are ever-changing, inconsistently applied and may include surcharges, processing and handling fees that aren’t officially listed.
DON’T:
SB
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© 2004 Susanne Baillie
