Strong support in recruitment
M+V is very professional in India HR market. They were able to provide us with strong support in our recruitment. We are satisfied with their service.
With the incubation solution from Maier + Vidorno , we successfully placed our products in the Indian market and established valuable product market presence, which we can now build on further with our subsidiary
BIS registration project
The BIS registration project went smooth and efficient. We are very satisfied with the way the documentation, communication and inspection on-site was handled from the Maier+ Vidorno Team. We are happy to recommend working with M+V in India – with the expert’s advice you will need.
India has great investment potential for foreign companies if you manage the highly complex business environment professionally. Our experience shows – Maier+Vidorno is a competent partner to efficiently set up and run business.
Market Presence and Profitability
The cooperation of JUMO and Maier+Vidorno is a success story in India since 2008. Our sales, market presence and profitability in India shows constant growth. M+V knows about the challenges foreign companies face while doing business in India – and provides hands-on solutions.
Business Diagnostic and Implement Improvement
Maier+Vidorno understands business challenges in the Indian business environment and provides solutions with the help of its experts. M+V has experience in running business diagnostics and implement improvement and expansion strategies in various industries in India.
India is almost as big as the European Union and more than twice as many people live there. No wonder, then, that there are big differences between the various Indian states. The differences are in terms of language, demography, politics and economic growth. For a successful start in India, it is therefore important to take these differences into account when making a business plan. Because what works in Gujarat does not automatically work in West Bengal.
To succeed as a multinational in India, you must be aware of the large regional differences in India. India is a fragmented market with large, and often underestimated, regional differences in language, culture, infrastructure and wealth. All of which affect regional business culture. Indian states are therefore better compared with individual countries than the Dutch provinces, British districts or Swiss cantons. Indeed, India’s most populous state, Uttar Pradesh, has as many inhabitants as Brazil, and the southern state of Tamil Nadu has an economy as large as that of Hungary.
There are also large demographic differences between the Indian states. For example, the south of India is older. It has more to spend and has a higher literacy rate than the rest of the country. North India, on the other hand, is younger and relatively poor. The North Indians mainly speak Hindi. The South Indians prefer to communicate in English or their regional state languages, such as Kannada or Malayalam. The German wholesaler METRO (better known in some countries as Makro) made interesting discoveries about Indian customers. In India, there are big differences between the messages that customers in a certain region put in their shopping cart and adjust the assortment by adding more local products. Logical actually, Finns also have different preferences than Spaniards.
“METRO found out that there are big differences between the messages that customers in different regions of India put in their shopping cart”. – Mark Alexander Friedrich, Head of International Affairs for METRO
For a successful start in India thorough market research is a must. The regional differences are not only obstacles but can also work to your advantage, depending on your sector and product. The southwestern states, such as Maharashtra and Karnataka, are a suitable base for technical sectors such as automotive, engineering, etc. They are also known for outsourcing IT and Research & Development teams. Northern states such as Punjab and Haryana, among others, have a thriving agricultural sector. They provide opportunities for the food processing industry and the renewable energy sector. Also for selling your product in India, starting in the right regions is essential. European products are almost always in the highest market segment in India. So it’s smart to start in the regions where there are sufficient income and a real demand for a more exclusive, more expensive product.
Enter The Indian Market With A Customized Market Research
In Europe, you wouldn’t ask an Italian distributor to set up your network in Norway either. An Indian partner or distributor operating in a specific state has a good network only there. It will not succeed in successfully expanding sales to other states. If you take India seriously you will start with about four local managers or distributors who have a good understanding of your product and the regional market. With them scan the market and the logistics network set up, one of the biggest challenges for international companies in India. In this way, you can step by step successfully conquer the Indian market “.
Maier+Vidorno has compiled a guide explaining the specific characteristics of business culture in the various states.