Successful in India: Tips for German companies

Successful in India: Tips for German companies

India - an emerging economic power that attracts German companies

India has developed into one of the fastest growing economies in the world in recent years. For German family businesses and medium -sized companies, the country offers numerous opportunities that need to be used. Andreas Lapp, former head of the family company Lapp and Honorary Consul of the Republic of India for Baden-Württemberg and Rhineland-Palatinate, gives valuable insights into the challenges and potential of the Indian market in an interview.

Why is India more attractive than China?

India is characterized by its huge population of over 1.4 billion people and offers a very young company with an average age of under 28. The diverse diversity of industry, the high level of education and the progressive infrastructure modernization make India an attractive market for German companies. In contrast to China, you can communicate well with English in India, which makes business activities easier.

What do companies have to consider when closing market?

India is a federal state with a complex administrative structure. The localization of business activities requires patience and willingness to adapt. The cultural diversity and the numerous languages provide companies with challenges that need to be mastered. By building trust and consideration of local customs, German companies can successfully act on the Indian market.

What role does business culture play in India?

In India, the trust of central importance for business relationships is. The personal level and the maintenance of relationships with the business partners are crucial for business success. Compliance with cultural customs and the appreciation of Indian traditions contribute to the positive relationship development.

The importance of a sustainable business strategy

Sustainable and long -term engagement in India requires a clear corporate strategy and a respectful handling of local conditions. The rejection of corruption and the promotion of transparent business practices are crucial for the establishment of a trustworthy image.

India - diverse opportunities for German companies

The promotion of economic exchange between Germany and India offers German family businesses and medium -sized companies a variety of opportunities. By supporting institutions and organizations on site, companies can successfully enter the Indian market and build long -term partnerships.

outlook on the future of German-Indian economic relationships

The dynamic development of India and the increasing integration into the global economy offer German companies a promising perspective. Through the active participation in the Indian market and the design of sustainable business relationships, German companies can benefit from the growth opportunities in India.

Source: www.lapp.com

- Nag