Business in India: all about family
Indian society has very strong belief systems based on family, and these extend into business. If you are looking to try your business ideas in India, this is the first lesson you must learn.
Up to 70% of business in India is controlled by family-owned organisations, and within organisations, it is very common for key positions to be held by family members. The organisation structure is also based on family – the CEO holds a paternal role and is looked up to and highly respected by all staff. Staff members themselves will have very close relationships and work together almost like a family.
"In developing a new business partnership, Indians see it as welcoming a new member to the family," says My Business's in-country specialist, SP Joshi. "Business people want to take time to get to know you and develop a strong, long term relationship.
"When doing business in India, you need to have a professional relationship built on a personal relationship. You must reach an understanding personally before you can start negotiating."