The individual market exploration trip to India, presented by Mike D. Batra and Dr. Johannes Wamser from Dr. Wamser + Batra GmbH, the individual India consultancy for complex projects and tailor-made consulting solutions.

The Indian market is increasingly attracting attention due to its sustained growth. For many sectors of industry it is already a “huge market”, as some media like to say. However, it can often be observed that after entering the market, sales fall short of expectations.

So are you really sure that the information you have about the market corresponds to reality? Perhaps you should take another look at your documents from the perspective of “Are the sources used really reliable?” You don't want to make the mistake that many German companies unfortunately still make by relying on the figures from dubious studies or the almost always far too optimistic representations from Indian industrial associations or Indian state institutions, etc.

You want to do better and find out without a doubt whether the Indian market is “ready” for your products. What is the best way to proceed?

A logical first step would certainly be to create a market study on India.

And with that you are already “in the middle of India”, because in a country where you don’t even know how many inhabitants, for example the capital Delhi has, where around 60% of all companies belong to the “unorganized” sector, i.e. are not registered, and Where even the specialist ministries consciously “embellish” or simply invent facts and figures, the results of a classic market study are often quite worthless, or at least questionable. And if you add to this the Indians' sometimes rather “generous” approach to facts and figures, such a study can even be dangerous, if you rely on it. Some typical stories:

    • Quote from an Indian market study by a well-known Indian market research institute from 2006 (text translated): “Around 8 million cars are currently being built in India”. The small but important mistake: This meant motor vehicles, i.e. all motorized vehicles, from motorcycles to autorickshaws to tractors and trucks. At that time, cars only reached the million mark. And that makes a difference whether you're talking about 1 million or 8 million cars...
    • In a market study prepared for a German electrical engineering company, the development of demand for a defined component is presented in detail. The client was thrilled because the market potential shown was significantly larger than expected and would definitely justify production in India. It was only by chance that it emerged that the author of the study had misinterpreted a technical term and then described the market for a completely different product...
    • In a study on the availability of skilled workers, the Ministry of Economic Affairs of the Indian state of Maharashtra wrote in 2005 that there are currently around 5 million trained industrial skilled workers in the state. In the same study - two pages later - there are only 500.000 skilled workers, a difference of a factor of 10. When asked about this discrepancy, the state's industry minister suggests a "compromise", literally: "Where is the problem? Just take the average!”

But even if there are reliable figures, that alone doesn't help. For example, even if you know that around 50 million Indians could afford a refrigerator, you still don't know how to reach and serve this market. We therefore recommend an alternative approach: simply take a look at your market and its environment yourself in the form of a market exploration trip.

It is absolutely necessary to determine the potential, environment, competition and the general conditions that you have to deal with in the Indian market. The experience of most entrepreneurs shows that you can only get realistic and reliable information about your industry if you experience the market “hands-on” and look at it with your own eyes.

“An individual market exploration trip makes it possible to compare your assessment of the maturity of the Indian market with reality through discussions with potential customers, distributors, dealers and even competitors,” says Dr. Johannes Wamser.

Mike Batra adds: “You definitely have to check statements about the market and the environment on site. It is not enough to look at India from a distance from Germany or to base one's decisions on theoretical studies alone. India is so different in practice that only a trip there will enable you to make an informed decision.”

During such a market exploration trip to India, you should also be able to see the usual sales channels and areas of application for comparable products, for example during factory visits. It is also important to find out whether and where which products and technologies are used by competitors and for what reasons.

Write us one Mail or call us at 0234-9041836-0 to arrange a consultation with our specialist team.