Bilans d’évènement
Past Event | Breakfast talk: Doing Business in India
Thank you to our esteemed speakers Prashant Bhayani, Chief Investment Officer Asia at BNP Paribas, Sonam Rohella, Associate Director at Luther, Stephane Watier, India & Singapore Units Global Manager at Axon and Payal S. Kanwar, Director General at the Indo-French Chamber of Commerce and Industry for facilitating this panel discussion exploring the opportunities and practical considerations of doing business in India.
Engaging with the Indian market demands a patient, localised, and relationship-driven strategy for success. The country is recognised as a global growth leader, but its complexity requires businesses to proceed with informed caution.
Growing Opportunities: The business case for investing in India is exceptionally strong, resting on its unparalleled scale and favourable demographic strength, which have positioned it currently as the 4th largest economy worldwide. Now the most populated country in the world with a large, young labour pool and a significant middle class, its growth is currently top in Asia and is powerfully driven by strong domestic demand, while its equity markets rank among the top global performers, all of which is further reinforced by pro-business government reforms creating high opportunity in key sectors such as IT/Tech, Renewables, Construction, and the Automotive (EV) space.
Strategic Approach: Localise, Connect, and Comply: Panellists emphasised that success hinges on recognszing that India is “Not One India but Hundreds of India”. Therefore, companies should adopt a long-term perspective and be prepared for a slow operational setup process. Cultivating strong, personal, and sustainable local partnerships is paramount to navigating regional and bureaucratic differences. Moreover, given the rapid digital adoption, establishing a strong online presence is crucial for e-commerce and marketing outreach.
Navigating Challenges: While the market is promising, businesses must be ready to manage persistent challenges. These include navigating a landscape with complex regulatory and tax regulations, as well as cumbersome bureaucratic processes in some areas. The talent market is also hyper-competitive, requiring firms to offer comprehensive benefits to attract and retain skilled personnel. Ultimately, businesses must prioritise thorough compliance with all local laws and ensure they have trusted partners for essential support functions like accounting and payroll.
For more information on the breakfast talk, please feel free to contact Alexia Duvernoy at aduvernoy(@)fccsingapore.com
