Doing Business in IndiaA perspective on timeAddressing issues of
respectNon-verbal communicationStrikesThe creaky wheels of
bureaucracyFestivalsMarriagesFamilial fraternizationSometimes the
office is taken homeSmall talk is bigGoing by the book.contd.Not
too good with paperworkQueing?Business cardsTransport traditions
and travailsThe tower of Babel?Herd mentality rulesThey mind their
Ps and Qs, but differentlyPecking orders matterEnglish?Starting a
business in IndiaIFCs and World Banks doingbusiness.org website
outlines the following steps for starting a business in
India:Obtain director identification number (DIN) online from the
Ministry of Corporate Affairs portal (1 day, INR 100)Obtain digital
signature certificate online from private agency authorised by the
Ministry of Corporate Affairs (3 days, INR 1500)Reserve the company
name online with the Registrar of Companies (2 days, INR 500)Stamp
the company documents at the State Treasury (State) or authorised
private bank (1 day, INR 1300)Get the Certificate of Incorporation
from the Registrar of Companies, Ministry of Corporate Affairs (5
days, INR 200 for MOA + INR 1,000 for AOA for every INR 500,000 of
share capital or part thereof + INR 100 for stamp paper for
declaration Form 1)Make a seal (1 day, INR 350)Obtain a Permanent
Account Number (PAN) from an authorised franchise or agent
appointed by the National Securities Depository Ltd. (NSDL) or the
Unit Trust of India (UTI) Investors Services Ltd., as outsourced by
the Income Tax Department (7 days, INR 67)Obtain a Tax Account
Number (TAN) for income taxes deducted at source from the Assessing
Office in the City Income Tax Department (7 days, INR 57)Register
with the Office of Inspector, Shops, and Establishment Act
(State/Municipal) (2 days, INR 6500)Register for Value-Added Tax
(VAT) at the state Commercial Tax Office (12 days, INR
5,100)Register for Profession Tax at the Profession Tax Office (2
days, No cost)Register with Employees Provident Fund Organization
(12 days, No cost)Register for medical insurance at the regional
office of the Employees State Insurance Corporation (9 days, no
cost)
Summary PointsNo one size fits allListen and learnIndia is still
not like Germany or any other developed economyYou have to be in it
for a long haul If you are looking for quick gains then perhaps you
need to think againAdapt to winInnovate in products and the
business modelLearn to accept the challenges that India would
present and take it in your stride..contd.Expect to be treated like
an important guestLearn to receive, graciouslyBe prepared to
participate in a relationship of exchangeExpect to give something
in returnRole carries specific dutiesKnow the individual, as well
as the organisationCaste is a mindsetMind the lines of powerKnow
why you are taking the trip (goals, objectives, etc.)..contd.A
little preparation wont hurtCompleting the project may not mean the
end of the projectDont shy away from seeking advice from your local
talentThe upwardly mobile middle class is diverse, young, and
committed to changePhilanthropy arise out of religious and social
principlesActions and words speak louder than the written
documentsThe primary purpose of a contract is to create
orderNegotiate, enlisting an exploration of multiple
perspectivescontd.Time is flexibleWorkspace is a sacred place, so
dont be mystified by the public displays of daily prayersSpatial
clues signify degree of hierarchyIndian culture provides a range of
gender rolesBody language can easily be misinterpretedWomen
experience different level of gender bias
Culture isnt inert. Its pretty ert. If it isnt working for you,
then it is probably working against you ~ Virginia Valentine
(founder of Semiotic Solutions)
Optional Reading (recommended)Is there an Indian Way of
Thinking? An Informal Essay by A.K. Ramanujan
