What It Takes To Start A Business In India

Whether you are looking to start up your own business, find an outsourcing partner, or create a joint venture, an understanding of the country's history and culture is essential for achieving business success. India is a market that is willing to do business with the rest of the world – but in its own unique way. While India is deceptively Western in some respects – such as its use of international English as its corporate language – it retains a uniquely Eastern character. What makes India so important in global business? There are two overriding reasons: one is enjoying massive market growth with almost unlimited potential; and second is being home to the world's largest pool of skilled and professional manpower. Understanding the business environment that India presents requires some knowledge of the country's history and politics. Understanding Business Etiquette Establishing Hierarchies
When Indians meet business contacts they try to establish exactly where their competitors stand in the hierarchy of power and status. This "sizing-up" process is not unique to Indians, but it is performed with an unashamed ruthlessness that may be unfamiliar to you. Meeting and greeting
Your business partner's religious background will determine your opening gambit: for a Muslim, say "Salaam Aleikum" and offer a handshake; but for Hindus and others, use the ritual greeting of "Namaste" (hold your hands together upward at chest height as if in prayer, while saying "Namaste"), followed by a handshake. If your business partner is a woman, this greeting is friendly without overstepping any boundaries. Don't read too much in a weak handshake; it is very common in India. Don't be offended either if your Indian partner offers you a wrist to shake instead of a hand – some people will do this as a mark of respect if for some reason they don't feel their hands are clean enough or worthy to shake yours. After your initial greeting, offer your business card with your right hand – the left is considered unclean – and receive your Indian partner's with courtesy. Read it and then put it carefully in a wallet to show that it is important to you. Address your partner by the correct title; if it is Professor, Doctor, or Colonel he or she will be very appreciative of it. No business can be done before the power relation is established and etiquette of appropriate deference is established: who is the superior, and who is the subordinate? This is generally decided through a series of questions that can be direct and even brutal – especially for a newcomer to India – but it is an essential ritual that betrays the country's obsession with status and hierarchy. Cementing Business Relationships
In India, business is about building relationships and long-term trust. But these relationships are not quite the same as those in Western businesses – Indians do not distinguish between social friendships and business relationships. Developing a "friendship" is a necessary part of making a deal and forging a business relationship. Playing safe with conversation
You should start slowly and take good care of your first impressions and avoid questions about social problems, which otherwise will make your Indian partner feel embarrassed. Focus more on the growing number of positives. Ask about India's impressive Space Programme, its pioneering role in IT innovation, its global takeovers, or its cricket team. Every country has its own unique atmosphere of business and mixing into it is always fruitful in the long run.