TechSci’s ‘India Entry’ customized solution follows a three-phased approach starting with an in-depth evaluation of the market opportunity for our clients followed by strategy formulation and developing a comprehensive business plan for their entry and finally ‘on-ground’ implementation of the suggested strategy to establish significant presence in India.
- Market Exploration
TechSci’s market exploration methodology involves in-depth discussions with industry stakeholders including prospective customers, distribution channel partners, industry associations and government representatives. Backed by more than a decade experience, we provide ‘out-of-the-box’ solutions to address challenges related to competition, identify market opportunities, overcome technical barriers and develop pricing and channel strategies. Our market exploration study involves an in-depth assessment of:
- Competitive Intelligence
- Demand & Supply Scenario
- Distribution Channels
- Entry and Exit Barriers
- Government Policies and Regulations
- Location Analysis
- Potential Customers and Partners
- Present and Future Business Opportunities
- Technology Trends
The key deliverables of TechSci’s Market Exploration methodology include in-depth market research and India validation visits:
ü Market Research
- Market Sizing of Addressable Target Market and Products of Interest (POI)
- Key Growth Drivers
- Demand Side Analysis
- Supply Side Analysis
- Partners Identification (Importer/ Local Distributor Partners/Joint Ventures etc.)
- Regulatory Landscape
- Future Growth Potential of Target Market and POI
ü India Validation Visit
- Hosting client’s India ‘experience’ visit
- Arranging meetings with prospective customers, distribution channel partners, suppliers and other intermediaries.
- Strategy Formulation and Business Plan
TechSci helps in formulating an effective strategy aimed at achieving success of the client in the Indian market. Based on the results derived from ‘Market Exploration’ methodology, TechSci’s India Intelligence team helps clients in evaluating the most appropriate India Entry Strategy options to achieve optimum results. The strategy formulation exercise considers the client’s strategic priorities, short and long term business goals, investment capacity and risk appetite, historic and forecast industry growth, success and failure cases of competitors and industry best practices. We provide advisory services and develop a comprehensive business plan for the client covering the aspects detailed below:
ü Mitigating Risks and Revenue Generation:
- Assess and advise on business risks involved
- Deal with regulatory issues and compliances
- Develop an efficient distribution network
- Generate sales leads
- Providing feedback on unmet needs of end customers
- Determining price, positioning and branding
- Meet competitive standards
- Networking with government and industry associations
ü Business Plan
- Sales Forecast
- Operational Expenses
- Marketing Expenses
- Profitability Analysis
- Feasibility Study
ü Local Manufacturing vs. Import/Export
ü Merger & Acquisition vs. Greenfield
TechSci provides full support to its clients to ensure the entry strategies formulated are successfully implemented. We undertake all the required activities to establish the client’s business in India. For instance, partnerships, joint ventures or mergers & acquisitions can be one of the elements for India market entry strategy and any mistake in partner selection can lead to significant setback. We define clear selection criteria and comprehensively screen the potential partners on strategic and operational parameters. Consequently, we help in selecting partners with the right synergies and hence mitigate risks.
The key deliverables offered in our implementation services include:
ü Distribution Partner Search and Appointment
- Identifying and selecting potential distributor partners
- Obtaining their willingness for partnership with the client
- Organize meeting of client with the selected distributors
- Assist in negotiation and finalizing the partnership terms.
ü Greenfield/Brownfield Manufacturing Setup
- Location Analysis
- Site Selection
- Acquisition of Land
- Regulatory Approvals
- Greenfield/Brownfield Project Management
ü Establishing Subsidiary
- Identifying the right location
- Incorporating the Indian subsidiary
- Obtaining all statutory approvals
- Setting up of office
- Recruitment of key executives
Why Consider India as Preferred Destination for Business Expansion?
India offers several high potential business opportunities given the huge size of its upper and middle-class population. It is the leading high consumption based emerging economy offering significant revenue generating potential to foreign organizations. The country’s economic growth and low market penetration in many product categories creates a compelling investment destination. However, India is significantly diverse country. Business practices, cultural norms, income levels and value perceptions often vary significantly from state to state unlike many other developed and developing markets. Hence, it is very important to possess deep knowledge about this diversified market, competitive landscape, financial and regulatory aspects before expanding into the Indian market.
Ø The corporate tax rate has been reduced to 25% for existing companies and 15% for new manufacturing companies.
Ø There is only one GST applicable across the country with input tax credit so don’t have to worry about multiple taxes.
Ø Indian government has setup industrial corridors, SEZ, Export Parks, etc across the country which gives access to great and modernized infrastructure instantly.
Ø National transport and connectivity have empowered faster flow of goods across the country.
Ø India offers international companies a supportive tax regime under the ‘Make in India’ policy.
Ø India’s total population is 1.3 billion and 60% of its population is under the age of 35 years.
To achieve the objectives of the business expansion effectively, TechSci develops client specific customized market entry strategies for India by determining the size of target market, conducting pricing analysis, studying competition, regulatory landscape and corporate taxes.
Why Choose TechSci as your India Intelligence Partner?
With an industry presence of more than a decade, TechSci has been a preferred India intelligence partner for several prestigious global clients. We have helped establish themselves in the country with reduced risks and in a short gestation time. Clients have strengthened their foothold in the Indian market by leveraging our extensive knowledge and insights on the Indian business environment. We help clients build detailed roadmap for India market entry and design operational plans to execute ‘on the ground’ effectively. The market entry strategy is implemented with ‘time-bound’ milestones and regular review process in place to ensure success.
While TechSci provides Fortune 500 companies superior insight and on-ground expertise to enter and profitably grow their business in India, we also offer compelling value proposition structured for smaller companies which want to enter the country with lesser investments. TechSci offers a unique low cost, ‘start-up model’ India entry strategy to test the target market they intend to enter before making any major investments. This way we help the clients reduce not just the risk of establishing operations in a new market but also help save costs & time to set up the same.