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India embarked on economic liberalisation in the early 1990s to open the economy, make it market oriented, and expand the role of private and foreign investment, including measures such as reduced controls. These have worked, but international businesses considering expansion here should strongly consider using India market entry services.
Policy reforms over the years have made doing business here easier but the environment is one that requires assistance and local connections. This ensures you avoid issues and find success in the country.
Numerous foreign companies have set up in India over the past decade, encouraged by government initiatives like Make in India, boosting the manufacturing sector, and Digital India which focuses on three core components: creating digital infrastructure, delivering services digitally, and increasing digital literacy.
For starters, India has preferential access, economic cooperation, and free trade agreements (FTAs) with more than 50 countries as well as bilateral trade deals in the form of comprehensive economic partnership agreements (CEPAs), comprehensive economic cooperation agreements, FTAs, and preferential trade agreements with approximately 18 groups or countries.
India has also conducted significant policy reforms in key sectors such as banking, infrastructure, and land that have attracted a large inflow of FDI. This has improved the business environment and made operating here more attractive.
India features a complex business, legal, and social environment, which is not unusual for Asia. However, the country’s vast size, with 28 states and eight union territories inhabited by 1.2 billion people speaking 22 official languages with more than 200 dialects, makes these challenges larger.
That’s why having India market entry services can make a huge difference. Indian regulations are complex and local relationships are critical. You’ll need to research your market, modes of entry, and partners. Asian Insiders will connect you with your future partners and engage with you along the way.
Click here to take our Readiness Check to see if you’re ready to enter India
Perhaps we can help you – so connect with us here. We’re ready to engage you – let us know how to help you improve your impact in Asia.
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