Officially known as the Republic Of India. It is geographically situated in South Asia, it is the seventh largest country in the world, the second most populated and the largest democracy in the world. It is surrounded by sea on three sides, the Indian Ocean in the south, the Arabian Sea in the west and the Bay of Bengal in the east. Its neighbors are Pakistan in the west, China, Nepal and Bhutan in the north east and Bangladesh and Myanmar in the east. To its south is Sri Lanka. India is the birthplace of Indus Valley Civilization and four important religions Hinduism, Buddhism, Jainism and Sikhism have their roots in India.
Doing Business in India After Independence
Doing business in India after independence was difficult. India followed a socialistic model of economic growth after independence. The industrial policy was for most part through public sector enterprises and greater emphasis was laid on agricultural sector. Private sector partnership was negligible and the doors for foreign trade were for most part closed. But this model of economic growth failed miserably and by the early 1990's India was faced with serious economic challenges. That is when the government decided to initiate reforms and encourage business ventures by both domestic private industries and foreign companies.
The nature of decision making is such that if any person is not willing or delays to take one, conciquencies show the way. Think of the people who get into stealing for a living. It is a general understanding that most of them are forced by circumstances. Many today don’t like living their lives the way the do, but they remain with no option but to comply. Likewise, the result of everybody’s life is a result of preceding decisoins. It is therefore important to get precautions when faced with the task of taking a decision.
A first step towards a buying representation in China would be to identify an agent who will search for reliable suppliers on the Chinese market; however this is not always a recommended method as the agents can be in conflict due to sister companies which produce similar products.