India Market Entry Services by The India Watch Decoded
Why International Enterprises are exploring new Markets
In today’s globalized businesses do not wish to restrict to their home countries. They are constantly looking out to explore new business opportunities across geographies. There are numerous factors that are driving enterprises to explore new markets
- Businesses are entering new countries to explore opportunities and expand their market share.
- Investors are venturing into new markets to invest in profitable business ideas & venture plans.
- Start-ups are entering markets to replicate their successful ideas in new territories.
- Mid-scale and large scale manufacturers are diversifying their supply chains to access cheaper labor, favorable business policies, and new markets
- In a post-covid world, diversification is also a de-risking strategy. Rather than concentrating on one market, it is advisable to diversify.
- Retailers enter new markets to increase their footprint and multiply their consumer base.
- Venturing into new markets also enables organizations to strengthen their learning curve and improve their overall strategy.
Why India Features on top of International Business and Investors
India generally features on top of international businesses and investors who are constantly looking to diversify and expand their business. India is not just one of the most attractive emerging economies in the world but it is believed that it will be one of the growth drivers of the global economy in the near future. Hence the South Asian economy is a top agenda for most global CEOs.
Mentioned below are some of the reasons, India is a top priority for global CEOs
- India is the fifth-largest economy in the world (USD 3.2 trillion.) As per PPP terms, it is the 3rd largest economy in the world.
- India is the most populous country in the world with a population of around 1.35 billion people. A large aggregate population also makes the country a lucrative market to enter.
- Indian consumer class is aggressively evolving and transforming. Customer demand and consumer lifestyle are changing fast.
- There is a 5% Indian population with an aggregate income of over USD 10,000 annually (~ 68 million.)
- The size of the near middle class in India (daily expenditure of USD 10) is around ~ 600 million.
- India’s vast “near middle class” and a prolific “middle class” make the country a fertile ground for numerous categories such as food products, consumer durables, electronic items, fashion & apparel, automobiles, two-wheelers, etc.
- India is counted among attractive FDI destinations across the globe. In 2021, it received a total FDI of USD 74.1 billion.
- India has a very simplified FDI policy and in most of the key categories, 100% FDI is allowed. (Textile, electronics, agribusiness & food production, SBRT, MBRT food retail, cash & carry, pharma, construction material, etc.)
- Corporate tax has been reduced to 17% in India, which is one of the lowest in South Asia and Southeast Asia region.
- India is aggressively building a world-class infrastructure with an extensive infrastructure pipeline of USD 1.4 trillion.
- In India, there is plenty of skilled and semi-skilled labor force available at an affordable price.
- Across the globe, the rate of 4G internet is the cheapest in India.
- Smartphone and internet penetration is growing at an unprecedented pace in India, which also makes the country a conducive ground for e-commerce, consumer internet, TMT, etc.
Why Partner with New Market Entry Consultants
Venturing into a new market is lucrative yet is a cumbersome task. It is advisable to partner with a Market Entry Consultant that can create the complete roadmap to entry and help the business/ investor make successful business decisions. This also helps the business to give complete attention to its core business, while the consultant will take care of the rest.
A New Market Entry Consultant can Work in the following ways
- Successfully navigate the new market
- Procure actionable insights & data on the target industry size, growth, trends, etc.
- Prepare roadmap for go-to-market strategy.
- Conduct market surveys to learn more about consumer behavior in the target market.
- Assistance in the setting-up company, registration, and legal support.
- Marketing, content, and PR support
- Help in preparing the business plan and feasibility study.
- Tailor-made strategic insights
How India Watch Market Entry Consulting Works
The India Watch is an India-centric market research and business intelligence advisory, which has a dedicated India Market Entry practice area. It works closely with business enterprises, family offices, start-ups, trade promotion agencies, private equity players, etc., and help in crafting their India market entry strategy.
The Range of services by The India Watch Includes
- Market insights and information services to learn about industry size, growth trends, competition, distribution structure, regulatory framework, etc. in India
- Market research and consumer research services to help new entrants find the Ideal Consumer Profile for their product/ service in India alongside learning more about customer behaviour.
- Opportunity assessment including tender tracking services
- Business matchmaking services to identify, distributors, channel partners, logistic partners, vendors, in India.
- Legal assistance in company incorporation, company registration, mandatory licensing, etc alongside finding the right location for office, manufacturing plant, etc
- Feasibility services, business plan formation, and custom growth plan consultation services for new business/ projects/ product launch in India
- Marketing and content services with a focus on key areas such as stakeholder management, public relationships, content marketing, digital marketing, SEO, social media, communication, etc.