The success of Italian companies in India

One of Octagona's strong points is certainly its direct presence on foreign markets, an element that guarantees Italian companies wishing to expand abroad a great advantage: being able to count on the physical presence and support of our local teams.

Being present abroad also means knowing the market very well and being able to count on it specific solutions other than on one network of contacts and relationships started for several years.

For this in recent days  Vishnu Krishna, Director of Octagona India, visited Octagona customers, both existing and potential ones, to give value to Italian companies who have developed or intend to dominate the Indian market.

During his stay, in addition to moments of conviviality, we also and above all talked about development and opportunities, with many meetings which ended fruitfully for companies that in recent weeks had requested the advice of the Director of Octagona India.

The success of Italian companies in India: the comment of Vishnu Krishna

Here is the testimony of Vishnu Krishna demonstrating the potential of Italian companies in India:

“During my time in Italy I had the opportunity to meet many new and existing Italian clients. These companies came from different industries: construction, ceramics, consumer products, chemicals, industrial and agricultural machinery, and so on.

Being my first trip post-Covid, my impression was that all the entrepreneurs I met were very keen to do international business. And everyone wanted it a long-term, low-risk sustainable market in which to do business. Given the uncertainty that exists in global markets today due to a number of factors, India stands as a major large market, with a GDP growing at 8% annually, a huge domestic market, tax incentives for the start-up of local production activities (Make in India), a young, English-speaking working class. There are not many examples of this type in the world today."

The Director of Octagona India then provides an interesting overview of the extraordinary economic and social development that India is experiencing in recent years. Some Italian companies in India have developed a significant presence in the area, but according to Vishnu Krishna there is still great room for manoeuvre:

“Many Italian companies that I met during my trip already have business experience in India and they want to go further in terms of scaling up. Some Italian companies are looking to set up a wholly owned subsidiary in India, while others are looking for local partners to enter into a joint venture agreement. There are realistic possibilities for everyone. In the past, India was a very complex market to do business in due to various laws and regulations. That said, it has progressively improved over the years. Today, India is ranked 63rd in the global doing business index (it was ranked 114th only 8 years ago). It is not yet easy, but with the help of the right consultants an Italian company can orient itself in the complex Indian market".

Finally, the confirmation of how Made in Italy products are highly appreciated by both Indian citizens and businesses, and that there is no time to waste to have a real competitive advantage:

Italy has a very positive name among the Indian business community. Many Indians (especially those who have visited Italy, like me) know the vast potential that Italy-India cooperation can offer to both countries. Anything that is produced or designed in Italy usually has a positive impression on the Indian people. This is the best moment in recent years that Italian companies can exploit to enter or expand in the Indian market."

Conclusions

Vishnu Krishna's comment highlights the fact that investing abroad and entering into commercial agreements in a high-growth country like India can prove essential for the growth of your business and turnover.

The time has come ride the wave of economic growth, push the accelerator and immediately plan winning strategies that take all this into consideration.

If you want too a free initial consultation on India click below and tell us about your project: we will study the best solution together with you.

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