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Growing opportunities for Australian businesses in India

Indian business woman Source: Getty Images

Retail is currently the hottest growing employment sector in India.

According to Asialink Business CEO, Mukund Narayanamurti, a leading authority on India’s commercial landscape the opportunities for Australian businesses looking for partners in the Indian market have never been greater.

Mukund Narayanamurti
Mukund Narayanamurti, Asialink
Mukund Narayanamurti - Asialink

In mid-February 2017, an India Market Entry workshop would be held in Sydney to help local entrepreneurs plan their India market strategies and build networks.

This two-hour workshop will be supported by the City of Sydney.

The main aim of this interactive workshop is to reveal:

  • How to identify business opportunities in India;
  • How businesses can assess the competitor landscape;
  • How India’s economic landscape, including state and regional economies, works;
  • What are the Asia capabilities needed for business success in India;
  • What are the key business opportunities in Asia;
  • What is the Indian market entry framework;
  • How to conduct a market opportunity assessment; and
  • What are the common reasons for business success and failure in India?

In this workshop, Australian companies that have already achieved success in India will also share strategies and tips.

Lord Mayor Clover Moore said that the City was keen to help Sydney businesses expand into Asia and take advantage of opportunities in new markets like India, reports Business Franchises Australia.

Mr Narayanamurti previously led KPMG Australia’s India Business Practice.

He is also one of the three presenters at the seminar.

Asialink Business provides training, information products, events and networking opportunities to help Australian organisations and individuals do business with Asia.

“Australian businesses should be encouraged by India’s recent attempts at creating a more foreign investment-friendly environment under Prime Minister Modi, with the opening up of key sectors to allow direct investment,” Mr Narayanamurti said.

Narendra Modi

Another presenter, Sue Freeman, is Director of the Australian Retail College based in Hyderabad, India.

She says Australian businesses should look to India when considering overseas markets.

“Australian businesses need to take the time to become familiar with the specific Indian market that they are operating in. They need to take a long term view and be prepared to invest. Business takes time in India,” Ms Freeman added.

She advises - “One of the biggest challenges to doing business in India is coming up with the right price point for your product – if you have something that India wants, can you meet the demand at the right price?”

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Retail is currently the hottest growing employment sector in India.

Asialink workshop believes that India is definitely worth consideration for Australian businesses with a good product and strategy.