Doing Business in India

As a complement to my posts on doing business in China (see Feb.1/08 and Jan.18/08), this post is about doing business in India. India, too, is emerging as an economic powerhouse. Back in 2003, Goldman Sachs recognized the market potential of four countries: Brazil, Russia, India and China and coined the term BRIC for the four named countries. Jim O’Neill, the Head of Global Economic Research at Goldman Sachs proposed the thesis that the BRIC countries would become four of the most dominant economies by 2050. This thesis is still supported and more information and resources about doing business in India are being produced. If you are planning on taking advantage of this growing market, please read on…

What are BRICs?

Click here for the website link to everything BRICs on the Goldman Sachs’ website. Among other things, you’ll find an interesting video interview called “BRICs at 6” from February 2008 with Jim O’Neill, Head of Global Economic Research.

To review the original 2003 report on BRICs produced by Goldman Sachs called “Dreaming with BRICs: The Path to 2050”, click here.

Read up on BRICs on Wikipedia by clicking right here.

From the Ministry of External Affairs, Government of India, click here for information on understanding India, its economy, investment, industry and services, trade and travel information.

The Economist is always a reliable source of credible information. Below are a number of links you might want to check out:

1. This link is a Special Report called “Technology in India and China: Running Fast” which appeared on Nov.8/07.


2. This link is a short background on India’s economy from Dec.31/07.


3. This link is a country briefing on India, most recently updated on Feb.9/08.

Click here for the Doing Business Project’s Report on India.

Ernst & Young has a number of reports and surveys on business in India. Click here to see them.

Cultural Differences

There are lots of books written on doing business in different countries, including India. One that I enjoyed is called “Kiss, Bow, or Shake Hands: The Bestselling Guide to Doing Business in More Than 60 Countries” by Terri Morrison and Wayne A. Conaway, 2nd edition, 2006. Check to see if your local public library has a copy of it in their collection before you run out to buy it. Click here to see some titles that the Oakville Public Library has in its collection on doing business in India. Click here to see materials on business etiquette in other cultures, including the “Kiss, Bow, or Shake Hands” book.

The Canadian Government’s Foreign Affairs department includes an article by Rajesh Kumar on the cultural differences between India and the West: Click here to read it.

From Canadian Business Online, this article (click here) from June 2005 by Matthew McClearn discusses cultural differences, outsourcing, India’s infrastructure, government, relationships and more:

Click here for a link to a number of YouTube videos on doing business in India. Below is a presentation that I found there on doing business in India. While it is aimed at Brazilian businessmen, the content is about Indian culture.