The success of Italian companies in India

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

Having a presence abroad also means knowing the market very well and being able to rely on specific solutions as well as on a network of contacts and relationships started several years ago.

That's why in recent days  Vishnu Krishna, Director of Octagona India, visited Octagona's existing and potential customers, To give value to Italian companies who have developed or intend to preside over the Indian market.

During his stay, in addition to moments of conviviality, development and opportunities were also discussed, with many meetings that ended fruitfully for companies that had sought advice from the Director of Octagona India in recent weeks.

The success of Italian businesses in India: commentary by Vishnu Krishna

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

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

Being my first trip after Covid, my impression was that all the entrepreneurs I met were very eager to do international business. And they all wanted to a long-term sustainable, low-risk market in which to do business. Given the uncertainty that exists in global markets today due to a number of factors, India emerges as a major large market, with a GDP growing at 8% annually, a huge domestic market, tax incentives for starting local manufacturing businesses (Make in India), a young, English-speaking working class. There are not many such examples in the world today.’.

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

“Many Italian companies I met on my trip already have experience doing business in India and want to go further in terms of scaling up. Some Italian companies are looking to establish 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 all of them. In the past, India was a very complex market in which to do business because of various laws and regulations. That said, it has gradually improved over the years. Today India ranks 63rd in the global index of doing business (it was 114th just 8 years ago). It is still not easy, but with the help of the right advisors an Italian company can navigate the complex Indian market.”.

Finally, confirmation of how Made in Italy products are highly valued by both Indian citizens and businesses, and that there is no time to lose in order 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 both countries. Anything that is produced or designed in Italy usually has a positive impression on the Indian people. This is the best time in years that Italian companies can take advantage of to enter or expand in the Indian market.”.

Conclusions

Vishnu Krishna's commentary highlights the fact that investing abroad and making business deals in a high-growth country like India can prove to be Fundamental to the growth of its business and turnovers.

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

If you also want to 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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