Business Practices in India: Doing business in India can be a smooth and rewarding experience especially if you are familiar with the ways in which business is conducted in the country. To familiarize yourself with some of the most common business practices in India, take a look at the following tips on navigating the Indian business world:
- Time in India is generally flexible, even work time, and Indians are generally appreciative of punctuality although they themselves may not be punctual. Set appointments at least a month in advance and make sure to confirm it a few days prior to the commitment. Ideally, appointments should be made for late in the morning until the afternoon, with lunches preferred over dinner.
- Other cultures may find that decision making in India can be a slow, thorough process that involves a lot of deliberation, so don’t rush deadlines. Impatience may be construed as rude and disrespectful.
- Keeping smooth, well-maintained relationships can be a crucial part of doing business in India so much so that these relationships should already be in place before negotiations can begin. It is also advisable to establish good working relationships most especially with seniors and leaders in the business. Because of the great value Indians place on respecting their elders and their tightly hierarchical organization, decisions on almost everything almost always rests with these high-ranking executives, and keeping good relationships with them increases the likelihood of smooth business transactions.
- Business decisions in India are not arrived at solely on empirical data, statistics or excellent presentations. These highly spiritual people also use their intuition and faith to steer their course in decision making, so present a calm, patient presence anchored on good character and it will go a long way in creating the right business climate for successful negotiations.
These are just some examples of good practices to keep in mind when conducting business in India. It must be remembered that cultural awareness will help guide you in making the most of your business venture in this country.
We hope that our Doing Business in India Guide will help answer some of the routine questions we get asked. Please Contact Us if you need more in-depth assistance when looking to do business with India. We’ll be glad to help.
Last updated: June 4th, 2021
