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Exporting to India

map-of-india

INDIA
Actual population* Population world ranking
1,236,344,631 2
Actual GDP (PPP)* GDP world ranking
$4,990,000,000,000 4
Actual GDP (per capita)* GDP (per capita) world ranking
$4,000 169

*See the end of this blog for definitions

A growing economy in India allows for many business opportunities to be available. With its large population, India offers a variety of choices for products and services.

It is important to keep in mind that India is a diverse country with many different regions and languages. Due diligence along with thorough market research and strategic planning are essential to increase the chances for success.

To learn about India’s markets, a careful analysis of the market area is needed. Distribution of products can be a challenge, but finding a reliable partner or agent can assist in that area. A suggested way to begin is to start on a regional level. Various resources are available to help companies explore start-up options along with possible company structure and legal considerations. Two of these sources include the United Kingdom Trade and Investment and the United States Commercial Service.

It is also strongly recommended to know proper business etiquette in India. Research in this area will assist in building relationships which are crucial for the success of the company. Among the sources for such information are the United Kingdom Trade and Investment and the United States Commercial Service.

It is important to know India’s customs and standards. Know what the customs requirements are according to the Government of India Department of Revenue under the Ministry of Finance. The Bureau of Indian Standards is responsible for the development of the standards.

Companies may also find detailed information about imports and exports through the India Department of Commerce under the Ministry of Commerce and Industry. For import procedures, knowing what is required is essential.

India is located in South Asia and is a member of the World Trade Organization.

Even though there are a large number of spoken languages and dialects within the country, the Constitution of India has determined Hindi as the official language with English considered as the business language. Each region within the country tends to have its own language or dialect.

In India, the voltage used is 230V at 50Hz. The most frequently specified plug pattern is the India plug.

Sources:
www.gov.uk
www.export.gov/india
www.business.gov.in
www.bis.org.in
www.india.gov.in

*Source: www.cia.gov/library/publications/the-world-factbook/index.html

Country comparison—Population: Population compares estimates from the US Bureau of Census based on statistics from population censuses, vital statistics, registration systems, or sample surveys pertaining to the recent past and on assumptions about future trends. (July 2014 est.)

Country comparison—GDP (Purchasing Power Parity): GDP (purchasing power parity [PPP]) compares the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation’s GDP at PPP exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. (2013 est.)

Country comparison—GDP – per capita (PPP): GDP – per capita (PPP) compares GDP on a purchasing parity basis divided by population as of 1 July for the same year. (2013 est.)