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Re: At least a few NRIs should return

Please help make the Manifesto better, or accept it, and propagate it!
>Yes there is: Indian born and brought up in India, but found success and
>wealth in a foreign land. One who still has his heart at a place where he/she
>was born, wishes he could succeed without having to leave the society he/she
>knew growing up,and wants to give back to the society, the nation little bit
>of what he took when he needed it, one who wants to ensure many more kids of
>India don't have to go to distant land to find opportunities to succeed. 

I have only just joined this forum, and may have missed some of the
previous points of this discussion.  I'm very impressed by the quality of
much of this debate.

I feel that the point of anyone engaged in business is to make a sustained
profit.  Now this is certainly not impossible in India.  

The requirements are very similar, I would assume, as in any other part of
the world - i.e. develop a product (hopefully better than the competition,
but not necessarily), identify a market, aggressive sales and engaging the
competition by positive and negative marketing.  Along the way, to keep the
local administration/politicians happy by direct/indirect means, and keep
salaried staff happy with enough wages to retain loyalty.  Of course the
standard business model to keep revenues higher than costs, give
shareholders a return on investment and staying ahead of the competition by
innovation is as applicable to India as anywhere else.

The weak points in this model (in my experience) for an NRI entrepreneur
are the lack of points of contact with the local
administration/politicians/labour market, and possibly an unwillingness to
engage directly with these elements. But these are not insurmountable
obstacles, and the resultant profits can be very substantial - there is
really a significant market for goods and services, particularly among the
rural and semi-urban middle/upper middle class.  And of course with the
right product there may even be a good overseas market.

The relative underdevelopment of the Indian business climate can be a
hindrance, of course, but, again, in my experience it can be a help too.
There is very little real supervisory/regulatory authority in the sense
that we in the West experience.  Most Indian bureaucrats dealing with
company regulations have little knowledge of company procedure, corporate
governance issues and corporate law, and can be fairly easily persuaded.
Legal delays can be turned to one's advantage as well as a disadvantage.
In my opinion, competing Indian companies are not particularly slick with
marketing or product presentation - and this is something which an overseas
NRI entrepreneur, with some knowledge of local tastes and attitudes can
easily excel in.

My suggestion, in short, is that India can be a good place to do business
and make  profits, provided that NRI entrepreneurs go in with a medium-long
term business plan (as I personally have).

Manish Ghosh

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