'MNCs must look at India as standalone market'
Instead of comparing Indian market conditions with other emerging economies, and replicating their earlier success models here, the MNCs should consider India as a standalone market.
By PTI |
MUMBAI: Instead of comparing Indian market conditions with other emerging economies, and replicating their earlier success models here, the MNCs wanting to have a share in the one billion consumer market pie should consider India as a standalone market, says a top market expert.
"Most market analysts and business strategists bark up the wrong tree when they evaluate the Indian opportunity by asking the question-when will India have the per capita income and infrastructure of China, per capita consumption of Brazil, the education level of Russia and institutional framework of USA," market strategist Rama Bijapurkar says in her book, 'We are like that only: Understanding the Logic of Consumer India'.
Even though numerous multinational companies came to India hoping to have a share of arguably the largest untapped market in the world, what they got instead was hungry yet astute consumers who bargain on anything from taxi fare to interest rates.
"Evaluating India through a comparative lens will lead to an inevitable conclusion that 'now' will never be a good time to enter a market of a billion consumers, US dollar one trillion GDP, growing at eight to nine per cent, because it will probably never catch up with the benchmark 'someplace else'," Bijapurkar says.
"Most market analysts and business strategists bark up the wrong tree when they evaluate the Indian opportunity by asking the question-when will India have the per capita income and infrastructure of China, per capita consumption of Brazil, the education level of Russia and institutional framework of USA," market strategist Rama Bijapurkar says in her book, 'We are like that only: Understanding the Logic of Consumer India'.
Even though numerous multinational companies came to India hoping to have a share of arguably the largest untapped market in the world, what they got instead was hungry yet astute consumers who bargain on anything from taxi fare to interest rates.
"Evaluating India through a comparative lens will lead to an inevitable conclusion that 'now' will never be a good time to enter a market of a billion consumers, US dollar one trillion GDP, growing at eight to nine per cent, because it will probably never catch up with the benchmark 'someplace else'," Bijapurkar says.
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