In American today there is a bit of a rush toward India. “The 1.4 trillion dollar economy, growing at 7 percent. They like India. The last three US presidents have visited India, much more so than before.” All this is true.
But some foreign companies have been doing business in India since the early 20th Century. (And I don’t include the colonials of the British East India company).
General Electric supplied a hydroelectric plant in over a hundred years ago. And Nestlé began India operations in 1912. According to Consumer Goods Technology,Nestlé’s first sales agents in India began work in Chennai and Kolkata in 1912. Today, the company directly employs 6,000 people in India and tts products are sold in more than 3.5 million outlets across the country. Nestlé recorded sales of CHF 1.4 billion in India in 2010. Its most popular brands are Maggi, the country’s leader in instant noodles, and Nescafé instant coffee. I grew up in (admittedly tea-drinking)north India thinking that coffee and Nescafe were the same thing.
What this means to new entrants:
You’re the new kids on the block in India. Be prepared to pay your dues before you can succeed. In most markets in India, there are smart local and foreign companies who can run you over if you don’t go fully prepared and with good advisors.
