With its deep talent pool, large consumer market, and improving infrastructure, India is rapidly emerging as a global business hub. But success in this complex, fast-evolving environment isn’t guaranteed. Organizations looking to establish or expand operations in India must navigate unique challenges, including complex regulations, labor strikes, and red tape. Our analysis of the most successful companies reveals that they tend to share the following five approaches to business:
- Taking a long-term view
- Empowering the right leaders
- Customizing products to suit local tastes
- Localizing operations
- Moving fast
“In the best case, India will not simply be a new location for manufacturing but a source of innovation and new product development,” write McKinsey’s Bob Sternfels, Rajat Dhawan, and coauthors. “Companies that establish or expand their presence in India could create a new growth engine.” Dive into each of the five approaches, then explore our insights to learn more about business in India.
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