Entering the Indian Market
It is very important to survey existing and potential markets for products before beginning to export to India. Indian market research firms can help new exporters. If the aspiring companies have products with sales potential in India, they can either set up a base in India or appoint a distributor or an agent. Establishing a base is preferable, because Indians like to see international companies investing in their country instead of selling from abroad. For the most part companies should avoid the temptation to establish a relationship with an agent/distributor simply because he/she is the most persistent. Consider the following before choosing an agent/distributor:
- Determine who their potential customers are and where these customers are located, through surveys.
- There may be a conflict of interest where the agent handles similar
product lines, as many agents do. - Carefully look over all distributor prospects, and research the more promising ones. Look at the potential agent’s reputation through local industry/trade associations, potential clients, bankers, and other foreign companies/missions.
Normal office hours are 10:00 a.m. to 5:00 p.m.; however, in some large cities [e.g., Mumbai], some places of business begin work earlier to avoid heavy traffic when commuting. Increasingly, among the business organizations, there is also a trend towards a longer working day, which can start as early as 7:30 a.m. and last till 8:00 p.m. Lunch is usually for one hour, between 12:00 p.m. and 2:00 p.m.
Most Indians take vacations during the summers [April-June] and Mid-December to Mid-January. In addition, in Northern and Eastern India, a favorite time for taking vacations is around October, which coincides with Dussehra/ Pooja holidays.