India, whose domestic market is still growing, also presents lots of opportunities as it remains one of the few economies little affected by the global economic slowdown.
We’ve seen annual 10 percent to 12 percent growth in trade between Taiwan and India in recent years and expect to see greater growth in coming years on closer trade ties. But I would recommend export-oriented businesses to stand down unless you are as big as [shoemaker] Pou Chen Group [寶成集團] or Foxconn International Holdings Ltd [富士康], with secured orders.
Focus on the domestic market, where demand will skyrocket in the next decade. And secondly, set up your own network of [Indian] distributors who understand the markets in its 28 states ... Also, localize your management team with a number-based goal to allow Indians to manage — as experience of successful Indian subsidiaries of Taiwanese companies such Acer Inc [宏碁] has shown.
Send Taiwanese executives who understand the products to service Indian distributors. Overall, electronic machinery, public infrastructure ... and agricultural reprocessing businesses stand a better chance of excelling.
RSS