Friday, March 03, 2006

Focus on India

By 2050, India will have surpassed China in population. Although there is discussion among the experts about the size of the middle class, no one disputes the fact that it is growing rapidly. New regulations allow retailers to set up shop in India without benefit of local partners and Wal-Mart, of course, is one of the first to step forward.

Finally, the business world seems to be recognizing that India will be the primary market competitor to China.

India Business: Finding Opportunities in this Big Emerging Market is a book that explores marketing and cultural issues in India. It includes case studies from several large American business-to-business firms that have been in this market for many years. Top executives from 3M, Caterpillar, and Hewlett-Packard discuss the cultural issues that have had an impact on their businesses in India.

The book, authored by two Indian marketing professors and an international business consultant, includes useful information about working with Indian employees and the differences in the business culture between India and the United States.

You will find information about India's major cities that goes beyond just population and economic data, a discussion of the middle class, strategies for doing business in India, standardization vs. localization in marketing efforts. There is also a discussion about the service and information technology markets.

You will find many books on India, but few of them focus on marketing and business issues in the cultural context. Many Indians may speak English, but the cultural issues are not to be ignored.