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Many foreign companies are eyeing opportunities in India post the liberalization of the market entry policies in India. India witnessed an increase in its GDP even at the time of the Covid-19 crisis proving it to be one of the most resilient countries in the World. For entry into the Indian market, it becomes essential to identify the ideal target market to formulate the right entry strategy with the right partners who have an in-depth understanding of the local market. Scroll down to check more about expanding business in India.
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The following are the points essential to ponder upon to ensure a successful entry into India:
The Indian economy is growing which is attracting foreign investment to India. However, establishing or expanding a business in India is not easy for a foreign business without proper research and groundwork on market understanding. Extensive market research is necessary to understand consumer preferences. It helps frame a strategy and select the most appropriate method for a foreign company for setting up or expanding business in India. Establishing or expanding business in India can be done by starting its operations by making 100% FDI to set-up its own company or collaborate and joint venture with an Indian partner to sell its products. Whichever may be the entry strategy, market research helps a foreign company to enter the Indian market using strategic methods. The strategic methodologies involve market analysis, investment planning, and choosing the right Indian partner for sales, marketing, distribution, or expansion of business. For establishing or expanding business in India, strong market research and strategy are necessary to draw a road map for the foreign company.
Also Read: International Business Opportunities in India
Ankita is an Advocate and has joined Enterslice as a Legal Researcher. Her work focuses on General Civil and Commercial laws, Corporate Taxation Laws, Labour and Employment Laws and Dispute Resolution. She is a law graduate from School of Law, University of Petroleum and Energy Studies. Prior to joining Enterslice, Ankita has the experience of practicing law in Delhi and Odisha.
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