Product Entry To Indian Market
Introduction – Gateway For New Product Entry In Indian Market
Indian market entry strategy – Gateway For New Product Entry And sales In India Market. India’s economy is projected to proliferate over the next few years. With increasing purchasing power and a rising middle class, consumer industry is poised to grow dramatically. To leverage opportunities, manufacturers and retailers must develop and implement deliberate strategies for gaining market access. India is regarded as one of the leading economic players in the world today. Despite being in the process of development, India’s economy significantly influences world trade. The vast majority of the most developed countries in the world are eager to establish or deepen relations with India. India is a desirable location for investors over other big countries, be they elsewhere in the world, due to its enormous market base and the rapidly evolving purchasing habits of Indian middle-class citizens. India has a 5,000-year history of embracing visitors from abroad, and this welcoming attitude makes it easier than ever for foreigners to start businesses there.
IIPRD has an integral focus on assisting foreign entities that are interested in entering into the Indian Market with their products/services by assisting them for complete regulatory and compliance support. IIPRD has a team of Company Secretaries (CSs), Chartered Accountants (CAs), Legal Professionals, and most importantly Regulatory Professionals who assist global clients in getting their products/designs/offerings registered through bodies such as FSSAI, CDSCO, DSIR, NABARD, CBFC, BIS, NGT, among others, along with ensuring full regulatory compliances and reporting. IIPRD can also assist clients in identifying distributors and supply-chain network partners to enable products to be efficiently and seamlessly released in the market.
We at IIPRD, as part of our research offerings, additionally undertake extensive examination/evaluation of consumer tastes, current sales channels, and adjustments to distribution and marketing techniques to break into India’s marketplaces. Successful commercial operations require careful planning, thorough investigation, persistent follow-up, endurance, and perseverance. The Indian market requires various marketing strategies that consider the many geographical opportunities, standards, languages, cultural distinctions, and economic development levels. India is a face-to-face society; therefore, in-person encounters are frequently necessary before formalising business partnerships or agreements.
Businesses that are just entering the market must handle concerns like distribution methods, price, labelling, regulatory challenges, and IP protection. Relationships with potential agents are crucial because it is best to solve these difficulties through an Indian partner or agency. In order to ensure that the partners are credible and reliable, it is strongly advised that thorough due diligence be conducted, and preferably a single point-of-contact is identified that can manage and coordinate across all dimensions to enable efficient, timely and seamless product entry into India.
With a firm footing in IP and Regulatory Compliance offerings, IIPRD, along with its full service IP and Commercial/Corporate Law Firm, Khurana & Khurana (K&K), has an extensive experience in successfully securing entry of numerous foreign companies and/or products/offerings thereof into the Indian Market for commercialization and distribution in India with 360-degree solutions to all their needs through its strong network alliances.
Numerous foreign businesses are interested in potentially carrying out a business in India. Finding the right partners who are well-versed in the regional market and all the relevant procedural requirements is crucial for entry into the Indian market along with identifying the right target market. Additionally, foreign investors should investigate their alternatives for entering into the Indian market, including establishing joint ventures or subsidiary agreements with Indian businesses.
Understanding the diverse market and strategies toward specific regions and income groups (i.e., target segments), tailoring offerings to a target group in order to gain early acceptance, taking into account the sizeable informal sector in your planning, approaching the market consistently, obtaining necessary licenses and approvals, and realising that import procedures are one of the critical issues for first-time vendors are just a few of the crucial considerations for market entry in India. The smooth entry of goods into the Indian market would be assisted by proper documentation and knowledge of the import processes. Armed with substantive knowledge of law, IIPRD handholds clients by providing targeted solutions for a smooth and speedy market entry based on their requirements. IIPRD combines crucial market data elements with analytics, converting them into meaningful solutions. Information that we maintain is focused, detailed, and real-time. These services are handled by our experts who have years of experience in this field.
Regulatory bodies formulated by the Government are organisations responsible for scrutinising, steering, and managing different sectors like drug, cosmetic, and food industries to ensure consumers’ safety. Quality of products is completely regulated and controlled before they are made accessible to consumers through the market. We being strategically based in National Capital Region (NCR), the Regulatory Capital of India, coupled with an in-depth knowledge of the Regulatory landscape and excellent networking with decision-makers in the potential licensor organisations, assist clients navigate through challenging, complex, and often changing regulatory requirements.
Our Regulatory Offerings pertain to below exemplary domains:
- Food Products
- Medical Devices
- Diagnostic kits
- Pesticides and Insecticides
- Narcotics Regulatory Affairs
- Phytopharmaceutical Drug
- Agro-Devices and Formulations
Distributor Identification Services – India: Market Entry Strategy
Indian market, being relatively unorganised, vast, complex and yet very dynamic, works with a complicated distribution system comprising multiple layers of wholesalers and retailers between company and end-customer.
We at IIPRD work with each client individually so as to customise our services based on the client’s requirements and expectations. Our complete focus while executing each project is on ensuring consistent quality standards and maintaining quick turn-around times. For strategic planning, focused coverage and distribution are incredibly crucial parameters, wherein an in-house team with high-end database research & analytics capabilities combs the Indian markets, collects, and analyses information for specialised channel partners as per preference. We maintain an extensive and detailed all India channel partner database that includes Distributors, CFA’s, Super distributors, large format distributors, importers etc., along with having finer details such as Firm type, companies represented, area held etc. The database is constantly updated with the latest market information.
Within India, we are networked with the best in-line logistic companies to ensure robust Logistics & Warehouse management processes for timely delivery of products to different distributors across a vast geographical span of India. A third-party logistic model encompasses the entire process from orders received to delivery at the final destination.
We at IIPRD have an expert team of legal professionals including Commercial and Corporate Law Attorneys that cover diverse yet deeply connected segments of manufacturers, channel partners, and crucial logistics partners and are well aware of issues that crop up during commercial relationships. Therefore, our specialised team of Corporate Lawyers take utmost care while drafting Contracts/Agreements to ensure that our client’s business interests and types of all the contracting parties are protected from all angles.
We at IIPRD, combine a Client focused approach with robust market research to offer a tailored operating model. A fundamental norm that we follow is not to disclose a client’s information to a third party without the client’s consent or if it is required by law. Present with the client throughout its journey, IIPRD’s solid and non-ambiguous confidential agreements, along with our internal charters for confidentiality, ensure your data is protected and completely safe with us. This helps both you and us in creating a relationship which is built on mutual trust.