12 Tips for doing business in India ( #2 seems about right ) 12 Essential Tips For Doing Business In India
Business between America and India has increased exponentially since 1985, when two-way trading was around $100 million, says Rajiv Khanna, an M&A lawyer for K&L Gates. The two countries now trade billions of dollars worth of goods and services every year.
Khanna has represented U.S. and Indian companies — including Walmart, Par Pharmaceuticals and private equity firm Berggruen Holdings — in deals since the mid-80s.
Which means he's also seen his fair share of businesses make mistakes while trying to break into the Indian market. "I saw the entire evolution until the present day," he says. "I don’t think you ever know the rules – even I can learn every day. And I had a head start."
We spoke with him about what it takes to do business in the Indian market. He says most people make mistakes.
1. Don't assume things are the same, no matter how 'Americanized' your business partners may be
"The general rule that nobody follows: they assume that business is done the same way in their home country. It’s the natural reflex. It gets accentuated in a country like India. If you go to China, you’re reminded more obviously that you’re in a foreign country. In India, you may be lulled into complacency. The differences are still there."
2. If you expect something to take a week, it'll take a month
"First and foremost, there's the timing perception. If the average American businessman wants to do something in one week, it will take four times as long. If you’re a person who gets impatient, you shouldn’t be the one doing the deal."
I THINK SIMBA IS AT THIS STAGE WITH ESSEL? LOL
3. You're not that important — even if you're the CEO of a Fortune 10 company
"The second thing is your perception of your self-importance. If you’re one of the Fortune 10 companies, your assumption would be you’ll be treated in a certain manner, because you’re used to being treated in that manner in your home country. That is not a good assumption. The CEO of a major U.S. company took his private plane to India with his team – and he assumed he didn’t even need a visa. But in India you need a visa. [The authorities] gave him 24 hours and they fetched him and deported him. That’s the way the system works. You can’t assume you’ll be treated with an amount of deference and respect."
THE REST OF THE ARTICLE:
https://www.businessinsider.com/12-things-you-need-to-know-about-doing-business-in-india-2012-1?op=1