Indian Culture Needed

8/19/2019 Indian Culture Needed

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India: A Land of

Opportunity

SIFE School of Management Studies Team


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Case for India

• India’s Tenth Five year Plan (2002-200! estimates the creation of "00 million #o$s in the ne%t decade in the industrial sector&

• India ran'ed as the orld’s second most favored destination for foreign direct

investment&• )i$eral mar'et reforms initiated in *uly+ ",," $y Manmohan Singh’s (urrentPrime Minister! structural reforms in .oer+ telecommunications+ infrastructure+electronics and information technology and oil and gas&

• Foreign investment in most sectors elcome e%ce.t strategic sensitive sectorse&g& atomic energy and defense

• Foreign e/uity .artici.ation raised to "00 .ercent in several im.ortant areas

• emocratic 1e.u$lic&• Mar'et and central .lanning economy&• 00 million middle class and groing&• 3n a PPP $asis the .er ca.ita income is a$out 4 25+000&• 3f the 00 million a$out 50 million have a .er ca.ita income of

a$ove 4 50+000&

• Entre.reneurial-rece.tive to foreign investment andcolla$orations

• India’s la$or force of 600 million&


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Ta# Mahal+ 7gra


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The 8olden Tem.le+7mritsar+ Pun#a$


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Buddhist Monuments at Sanchi

Qutb Minar and its Monuments, Delhi

Khajuraho cavesMadhya Pradesh


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Largest Democracy in the World

r& 7$dul 9alam 7:ad(The President!

To. Scientist

r& Manmohan Singh(The Prime Minister!

Economist

Mr& ;haru Singh She'haat(The a

Si'h hold the .ost of Prime Minister

http://en.wikipedia.org/wiki/Image:P_Chidambaram.jpghttp://www.microsoftkid.com/images/AJY%20WITH%20VP%20OF%20INDIA.jpg


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Macro Economic FactorsD! "#$% &illion

Fore' (eser)e " *%+ &illion

Income !ar Capita " #,+-#

E'change (ate ,,-.# (s / * 01D

Literacy (ate .,-$ 2

0nemployment (ate #-34 2

D! ro5th 64++,7+%8 .-* 2!opulation *-+$ &illion

9otal Area 61 ;m8 4


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Ma#or E%.orts• Engineering oods<

• ems And >e5ellery<

• 9e'tiles ? Clothing<

• Agro !roducts<

• Chemicals<

• Ores And Minerals<

• !etrol And !roducts.

• Machinery<

• !etroleum And !etroleum !roducts<

• Chemicals<

• 9elecommunications Euipment<

• Computer Euipment<

• Food And Li)e Animals<

• Crude (u&&er<

• @e)erages<

• 9o&acco<

• Clothing Etc


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Ma#or Im.orts

• Crude Oil<

• !earls And !recious 1tones<

• old<

• Electronic oods<

• Chemicals<

• Machinery and transportation euipment<• petroleum and petroleum products<

• crude materials<

• foodstuffs<

• to&acco<

• te'tiles<

• iron and steel<

• Aircraft etc


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ifferences $eteen Indian ulture > ?estern ulture

Basis Indian Culture Western CultureBelief in Faith &

Luck

Strong believers Believe in hard work & efforts

Belief in Spiritualism Strong believers Believe in Materialism

ublic !ppearance "o bod# e$posures%Considered obscene%

Fashionable clothes the inthing

Care of ld eople Sons are e$pected to take

care of their arents%

ld parents are not cared for%

'espect for Women "o religious ceremon# is

held without wife%

Women given respect intraditional sense

'elegated to ld (omes

Women looked as ob)ects of

pleasure% Women are freein ever# aspect


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@usiness Culture 7 India

(elationships and feelings play a larger role in decisions in

India- In general< Indians tend to ta;e larger ris;s 5ith a person

5hose intentions they trust- 9hus< ones credi&ility and

trust5orthiness are critical in negotiating a deal-

1ho5ing hospitality is part of the negotiationprocess- Often meetings start &y offering

teaBcoffee and snac;s- It is courteous to

accept the offer-


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Indians are inducti)e in their approach to understanding things- In theIndian psyche< reality can &e understood only in its o)erall conte't- no5ing

the personal< social and historical conte'ts of people< e)ents< ideas< etc-are a precondition to comprehending them accurately- 9herefore< oneshould &e prepared for uestions and enuiries< 5hich may not seem to &edirectly related to the su&ect- 9o people coming from more deducti)ecultures< this &eha)ior often appears to indicate a lac; of focus and

digression-

Indians are polychronic people< i-e-< they tend to deal 5ith

more than one tas; at the same time- 1o &e prepared forsome distractionsB distur&ances during the meeting< e-g-< asecretary 5al;ing in to get some papers signed< or thecon)ersation sometimes digressing into unrelated topics-One must appreciate that such &eha)iorBoccurrences do notsho5 a lac; of interest or attention-


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In general< Indians are cautious in accepting a ne5 idea orproposal- Openness to a ne5 idea depends not only on its uality<

&ut also on its source and endorsement- 9hat is< information a&out5ho else has implemented it or 5ho has proposed it has a maorinfluence on the decision a&out a ne5 idea- In ma;ing a proposal<you must include such details accordingly-

!o5er!oint presentations are generally accepted tostart the discussion- It is necessary< ho5e)er< tosend a more detailed proposal in ad)ance- Often<the details of the proposal are )etted &y some

middle7le)el e'ecuti)e< 5ho 5ill then &rief thesuperior a&out them-


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@argaining for the price or additional concessions is normal in

India- Indian negotiators e'pect and )alue fle'i&ility in negotiation-9herefore< sometimes a straightfor5ard offer may &e percei)ed asa rigid stand- It is al5ays ad)isa&le to &uild some &uffers in onesinitial offer< 5hich allo5 for &argaining later-

Indians usually do not e'press their disagreementsopenly and directlyG doing so 5ould &e considereddiscourteous- Instead< 5hen differences arise< theymay circum)ent them &y statements such as 5e 5illdiscuss this later or I 5ill ha)e to chec; 5ith othersa&out this-


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Do not insist on commitment in the first meeting- Ma;ing a

decision< in Indian organiHations< is often a long7dra5n out

process- 9his is not only &ecause of the &ureaucratic nature of

many Indian organiHations< &ut also &ecause a decision may ha)e

to &e ratified &y people 5ho may not &e present at the negotiating

ta&le-


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• Box of Sweets• Chocolates

• Bouquet of Flowers• Household Items

• Liquor, but . . . .

ifts


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• Families

• 9radition

• Foreign Countries• Cric;et

• !olitics ? (eligion

Poverty

Personal Matters

Military Spending

To.ics of onversation


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(ed @irth ? Fertility Wedding Dress

@indi@lue ea)ens< 9ruth ? Mercy

@lac; Death< Anger ? Intolerance Alcohol

1udra 6 Lo5 caste8

White Creation< (e&irth ?(eincarnation

@rahmins

6igh caste8

olors


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Doing Business in India

If there ever was an example of what aheterogeneous society looks like, it is India.The differences between people due to

region, religion, language and caste make itvery difficult for anyone to impart generalobservations on the country. Behavior,etiquette and approach are all modified

depending on whom you are addressing andthe context in which you are doing businessin India.


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Hierarchy

One o the most signiicant cultural inluences on Indian

culture is that o hierarchy! "ou #ill see this maniest in many#ays #hen doing business in India! $or e%am&le, only the

o#ner or the most su&erior &erson o a com&any #ill ma'e

business decisions! (ven i you are dealing #ith a manager,

they #ill al#ays go to the boss or a inal decision!

• ou may often find that, as a sign of respect, subordinates stand up

when the boss enters a room. If you are unsure whether to rise or

not, err on the side of caution and do so.

• !omen in business, especially in senior positions, executives, are a

relatively new development. If you are a woman doing business in

India, you will normally find people respectful and courteous, but not

very comfortable in working with you for business deals. ou may

have to make extra efforts to get them to discuss business with you.


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Meeting and )reeting

•Handsha'es are e%changed on meeting! Indians themselves use

the namaste. This is where the palms are brought together at chestlevel with a slight bow of the head. "owever as a foreigner doing

business in India you would not be expected to use it.

•*hen addressing an Indian try and use the a&&ro&riate

ormal title, whether it is #rofessor, $octor, %r, %rs followed by the

family name.

•+ames s&ea' volumes about an Indians bac'ground! &or

example, a 'ingh will usually (but not always) be a 'ikh. The suffix

*+ee- ( as in Baneree) is a sign of a high caste. rabic sounding

names such as /bdul0 will be used by %uslims.•*hen doing business in India, business cards should be

e%changed at the irst meeting. 1nglish is the language of

business so there is no need to translate your cards. Be sure to

receive and give with your right hand. %ake sure the card is put

away respectfully and not simply pushed into a trouser pocket.


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Building -rust

Doing business in India involves buildingrelationshi&s and establishing trust! It isvital that a good relationshi& is ounded

on t#o oundations!2) on a business level, i.e. demonstrating strong

business acumen, professionalism andqualifications and

3) at a personal level, i.e. relating to yourpartner and exhibiting the positive traits oftrustworthiness and honour.


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Meetings and +egotiations

• Punctuality or meetings is e%&ected, although being 24

minutes late will not have disastrous consequences.&lexibility is part of life5

• *hen entering a meeting room you must al#aysa&&roach and greet the most senior igure irst. 6everget /down to business0. %eetings should always commence

with some conversation 7 good topics of conversationinclude cricket, politics and film.

• I your doing business in India involves negotiations,al#ays bear in mind that they can be slo#. If trust hasnot yet been established then concentrate efforts on building

a rapport.• Indians do not base business decisions solely on

statistics, em&irical data and lashy Po#erPoint&resentations! They use intuition, feeling and faith to guidethem. lways exercise patience, show good character and

never exhibit frustration or anger.


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.anguage

$ifferent states in India each have differentofficial languages. 8entral government onlyrecogni9es "indi as the official language of

India. "owever, when doing business inIndia, 1nglish is the language ofinternational commerce.


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Foreign Investment

• Most sectors follo the automatic a..roval route

• FI ca.s@

9elecom up to #, percent<

Mining #, percent<

!ri)ate sector &an;ing ,= percent<Insurance 4. percent-

(The government is seeking to increase the FDI caps further)

• FI u. to 5" .ercent in .riority ca.ital and intermediary goods sectors&

• Aon resident Indians and overseas cor.orate $odies alloed "00

.ercent e/uity in 'ey areas&


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Indian Culture Needed

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