Welcome from Lesley Batchelor OBE, FIEx (Grad) - Director General, Institute of Export & International Trade
The world's second largest country by population, India is one of the fastest growing economies in the world. With rising personal incomes and a growing middle class consumer base, India can be a lucrative market for British exporters with the right products, services, and commitment. This Doing Business in India guide will help prepare UK businesses who are looking to trade with this dynamic market.
India is a very large country with multiple climatic, religious and ethnic variations. These variations can influence preferences in tastes, colours, packaging, and styles, so what is successful in one part of the country may not be acceptable in another part. It is also important to compare local laws, government incentives, and the local infrastructure as these can also vary a lot from place to place.
Don't forget to check the Indian import duty for your product to see if your export is viable. It’s likely to be a minimum of 35% once all additional taxes are included. You will also have a lot of paperwork to handle and you will typically need to complete 11 separate documents to export to India.
All of this means that it is vital that you take the time to research this market thoroughly and in many cases, it will be crucial to find the right partner for your product or service, one who is familiar with the local market and can help you find customers, distribution channels and handle documentation.
Owing to historical ties, British businesses will find that there are similar business and legal practices and English is the language of business but owing to the diverse nature of the country, business etiquette can vary from place to place so it is advisable to remain flexible in your approach and take your cues from your hosts. This is made easier by the fact that in business Indians place great value on personal relationships and you will be expected to take the time to develop contacts and relationships.
India represents a key growth market for British businesses and the Institute of Export & International Trade can help guide you through the intricacies of doing business in this fascinating country through our education programmes, training and practical support, our helpline and one-to-one assistance with paperwork.
Why not contact us and find out how you can join?
Lesley Batchelor OBE, FIEx (Grad)
Director General - Institute of Export & International Trade
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