Generalizes on the best strategy to enter the market, e.g., visiting the country; importance of relationships to finding a good partner; use of agents.
Finding Partners and Agents
New-to-market businesses must navigate issues such as sales channels, distribution and marketing practices, pricing and labeling, and protection of intellectual property. These issues are most effectively addressed through an Indian partner or agent, and relationships with potential agents are extremely important. Due diligence is strongly recommended to ensure that partners are credible and reliable.
Market Entry Considerations
There are many international companies eyeing opportunities in India. For entry into the Indian market, it is essential to identify the target market and find quality partners who know those markets and are well-versed in procedural issues. U.S. exporters should also explore market strategies in India such as forming subsidiary relationships or joint ventures with an India-based company. Other important points for market entry in India include creating strategies for specific regions and income groups (i.e., target segments); crafting offerings according to the target group in order to gain early acceptance; obtaining mandatory licenses and approvals; and understanding import documentation and procedures.