In this Issue:
- Evaluating the Market: Key Sectors
- Reaching the Indian Market
- Import Policy: Procedures and Duties
- Expert Commentary: Joint Ventures
With its domestic consumer market now among the most rapidly growing in Asia, India’s increasingly affluent middle class is only beginning to develop its tastes and preferences for Western goods and services. With a population of approximately 1.2 billion people—250 million of which can now be considered middle class—India is optimally placed to experience an explosion of consumer activity as the country’s first majority government in three decades prepares to initiate a second wave of reforms to incentivize foreign investment and economic growth.
In this issue of India Briefing Magazine, we explore several key growth sectors and industries that enhance India’s appeal to foreign companies seeking out new markets for their products and services. For overseas firms exploring the diverse range of options available for accessing and selling to the Indian market, we outline the fundamentals of India’s import policies and procedures, as well as provide an introduction to the essentials of engaging in direct and indirect export, acquiring an Indian company, selling to the government, and establishing a local presence in the form of a liaison office, branch office, or wholly owned subsidiary. We conclude by taking a closer look at the strategic potential of joint ventures—once used almost exclusively by foreign companies operating in restricted sectors—and the advantages they can provide companies at all stages of market entry and expansion.
For foreign companies exploring options for selling and exporting to India, market research, strategic planning, and comprehensive due diligence should be a priority at every stage of market entry and operational expansion. As India consolidates its role as a retailing, manufacturing, and sourcing hub for foreign firms, we hope this issue of India Briefing Magazine will provide investors with a more complete understanding of how to best approach this rapidly growing market.