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Understanding India and its opportunities. Sudha Nair Iliades 2012. Understanding India and its opportunities. Understanding India and its opportunities. Understanding India and its opportunities. Understanding India and its opportunities.
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Understanding India and its opportunities Sudha Nair Iliades 2012
Understanding India and its opportunities India, a strong education base • English-speaking workforce • 380 universities • 1,500 research institutes • 200,000 new engineers graduating each year • 300,000 masters graduates per year • 2 million university graduates • 9,000 doctors each year
Understanding India and its opportunities India, more economic facts • A steady investment rate of around 30% • An encouraging savings rate of around 31%. • A liberal FDI policy permitting up to 100% in most sectors • FDI up to 51% in retail trade of products of ‘single brand’. • Customs tariff rates down from 300% in 1990 to 15%. • Growth of India’s exports at over 25% per annum. • Including trade in services, India’s engagement with the global economy is in the region of US$ 350 billion.
Understanding India and its opportunities India, consumption opportunities • Growing purchasing power • Young population: 50% below the age of 25,70% below the age of 36 • Increasingly brand conscious consumers • Westernization of consumption habits • A new elite looking for prestige products • A population that travels more and more • More organized distribution channels
Understanding India and its opportunities India’s competitive edge • According to the Global Competitiveness Report 2010-2011, • India ranks 4th in the world in terms of market size • It is the second-most attractive destination for FDI • In terms of innovation, it is ranked 39th • It is ranked 17th in terms of financial soundness
Understanding India and its opportunities Greece and India • Greek exports to India are: • Machinery, rubber and plastic products • Cotton • Copper, iron and steel products • Chemicals
Understanding India and its opportunities Greece and India • Indian exports to Greece are: • Machinery and instruments, • Automobile and auto parts, vehicles • Iron and steel, aluminium, copper • Dyes and chemicals, antibiotics • Textiles, Garments, Leather • Furniture and handicrafts • Food products incl. sesame seeds, • coffee, cashew nuts and seafood
Understanding India and its opportunities Greece and India A fund of goodwill exists for India in Greece because of the following factors : • · • Both are ancient civilizations and cradles of culture • Both have gone through periods of foreign domination and, having emerged from the same • From a business perspective, both countries have a strong entrepreneurial spirit and have had trade links for millennia • Both countries have a strong family tradition and lay a lot of emphasis on forming lasting relationships
Understanding India and its opportunities Indian cultural traits • Do not rush the pace of negotiations. • An aversion to saying no. • Display a genuine interest in getting to know Indians and their culture and they will accept you without reservations. • Indians deal favourably with those they know and trust and go by gut feeling and trust rather than statistics, data and presentations
Understanding India and its opportunities Keys to success in India • It is critical to find the right local partner, to vet financials and to conduct proper market research. • Understanding India’s complexities and paradoxes holds the key to business success. • Restrictions on trade, poor infrastructure and the pace of business life may appear less efficient, but with a little patience, great profits are possible.
