How Consulting Company Help to Enter & Expand In Indian Market

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How a Leading Consulting Company Helped Fortune 500 Companies Enter and Expand in the Indian Market

[/vc_column_text][vc_column_text]Since the inception of liberalization, many MNCs have set up their business subsidiaries in India. Considering the diversity of the Indian culture and orientation, Fortune 500 companies and MNCs had to act in accordance with the Government norms and regulations. Business management firms (Consulting Company) like Tecnova assist foreign firms to enter and expand their business in India.

Tecnova Global started its journey in 1984 in New Delhi, India. It has gained expertise in providing consultation in sectors like industrial, automotive, pharmaceuticals and healthcare, retailing, etc. The company offers a range of services like setting up offices or manufacturing units, market research for mergers and acquisitions, incubation, human resource support, etc.[/vc_column_text][vc_column_text]

Growth of Fortune 500 Companies In the Indian Market

[/vc_column_text][vc_column_text]Presently, Seven companies made it to the 2021 Fortune’s Global 500 list. Among these companies, Reliance Industries Ltd. alone generated revenue of USD 63 billion, emerging as the high-ranked Indian company. The growth of these companies is led by building customer-responsive business modules and making lucrative investments in R&D.[/vc_column_text][vc_single_image image=”3468″ img_size=”full” alignment=”center”][vc_column_text]These businesses thrive on understanding customer intent and providing solutions according to it to compete globally. Fortune 500 companies are the fastest-growing companies with the highest profit growth increase of 75% last year.[/vc_column_text][vc_column_text]How Leading Consulting Companies Aid Fortune 500 Companies?[/vc_column_text][vc_column_text]Tecnova Global (A Leading Business Consultant), with an experience of over three decades, is providing assistance to Fortune 500 companies by carrying out a plethora of services:[/vc_column_text][vc_single_image image=”3469″ img_size=”full” alignment=”center”][vc_column_text]

Works As A Neutral Body

The communication process between the business owner and his team is important at every level of operation. However, it is not possible for the owner to be always in close vicinity with all of his team. Tecnova works as a medium at every level of the hierarchy, communicating every detail and issue thoroughly. The services provided ensure that every business activity is carried out properly.

Tecnova performs as a neutral body and analyses any aspect of the company with a fresh pair of eyes. Hence, challenges and any loopholes are identified easily, and a remedial plan of action is immediately implemented.

Helps To Anticipate Threats & Opportunities

The primary action involves understanding the dynamics of the market. Tecnova carries out a SWOT analysis to gaze at the possible threats and opportunities from the business perspective. They use their managerial and analytical skillsets to comprehend the competition and potential in the market. This helps the business to get a clear idea of who is their competitors and what potential they have.

Selecting Right Business Structure

India has a mixed diversity in economy and a wide range of business structures to adapt. Hence, choosing the appropriate framework is pivotal as it affects the statutory guidelines, taxation systems, and compliances that the company needs to follow.

Identifying Organic Growth For Business

Tecnova uses its knowledge and expertise to identify revenue growth opportunities. It assists companies in expanding sales and distribution networks and enhances the face value of the business by promoting brands across boundaries. The market research carried out is done to understand barriers. By removing those organizational barriers, the actual growth of the company can be anticipated.

Business Implementation

The business implementation process involves end-to-end project management by exploring the market and carrying out thorough market research. The implementation at Tecnova includes site selection, working across different clients for mergers and acquisitions, implementation and regulatory compliance of the companies, etc.

Helps In Business Development And Incubation Support

For companies looking for a business set up in India, Tecnova provides incubation services. It involves building a business model considering the budget of the business. Designing a business approach with minimum liability is another key role taken by the leading consulting company. In addition to this, the businesses also get a clear overview of the right infrastructure setup and supply chain distribution.[/vc_column_text][vc_column_text]Some other functions performed by Tecnova a leading Consulting Company that help in the smooth operation of the business are:

  • Comprehensive business management
  • Advisory on expansion and growth
  • Human resource support.
  • Strategic partnership with potential clients.
  • Performing statutory and regulatory compliances.

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Challenges Fortune 500 Companies face While Entering India

[/vc_column_text][vc_column_text]To set up business in India, the companies have to understand the diverse culture and competitive advantages they have. After the liberalization in 1991, a number of multinational countries entered the Indian market for setting up subsidiaries. However, few of them were successful in conducting their business operating smoothly. Here are the common challenges encountered by the MNCs:

  • The compound taxation structure of the country can act as a barrier to carrying out business in India. Sometimes, foreign companies fail to understand different tax brackets and other intricacies of taxation compliance. This leads to the non-fulfillment of tax payments on time, leading to future litigations.
  • Sometimes, the failure to understand the various market imperfections like transportation costs, tariffs, and non-tariff policies related to exports and imports drastically affect foreign companies’ business goals.
  • The smooth operation of the business is also affected by the different hindrances caused due to political agendas.

There are a few unlimited challenges that MNC or Fortune 500 companies can face while setting up business in India. For this reason, it is advisable to use the knowledge and expertise of a management consulting firm like Tecnova. This will keep all these problems at bay and ensure the uninterrupted flow of the business.

With the rapid increase of emerging FDI equity inflows in India, there are several MNCs, seeking to invest or set up business in India. However, to carry out a successful business in India, these companies need to understand the scope of the market, carry out appropriate business strategies, and plan profitable opportunities for the long run.[/vc_column_text][vc_column_text]Reference

Challenges Foreign Firms Face While Setting Up A Business In India
Consulting Firms Evolve with the Internet of Things
Strategic Business Consultants Provides Business Setup Services[/vc_column_text][/vc_column][/vc_row]

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