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.

There are many methods to apply in decision making, but I’d like to recommend those that are used by corporate companies. How can this be done? One may ask. By simply applying the principle and leaving out whatever doesn’t apply. In simpler terms, what i mean is this, ‘Tune your mind to think like any of the companies that you see or think are succesful in the world’ It could be a company in a different country from where you live. As you read on, I’ll outline what succesful companies do to take precautioned decisions.
For that reason, I’m not doubting the credibility of what i will give in this article. This method has proved to be usefull and less defiant than many others out there. I will select a few principles, models and theories that have been applied and have proven to keep companies afloat. I will go for the common but effective theories and later outline the process in a template format to make it friendly.

Looking for an appropriate agent
The greatest challenge for foreign buyers is to find dedicated, reliable, professional and credit-worthy agents. A long-term, focused and consistent strategy is needed to access and profit in the market. An agent could be a manufacturer who is in a similar field as the foreign company or an import/export company that is well established in the field and has connections and an extensive network with suppliers. Agents both buy and sell the products, or they act as commission agents receiving a sales commission.

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.

Service providers have developed services where the foreign company can utilize outsourcing services in order to establish their own buying and consolidation network without having to set up their own entity with fixed cost, or loose control over the order transactions to a local agent or logistics provider. As a second step, companies with their own representation can also outsource their local sourcing, invoicing and warehousing.