Doing Business in India For Dummies®

Exploring Industrial Relations

As your business grows and develops in India, you should socialize with other businesses. These relationship are important because you can glean a ton of info on your competition and meet potential suppliers and network. A company doing business in India should actively socialize on the following three fronts:

✓	The industry forum level (for example, Chambers of Commerce or Federations of Indian Industry): The advantages to belonging to these forums include getting to know the players, getting a better feel for the market’s intricacies, and belonging to a group that can unite and make representation to the government when changes or solutions are required. You can also access veritable treasure troves of data that can be quite useful for research purposes. Socializing at this level is easy, because fellow industry members welcome new entrants, and overseas companies are attractive because they open up reciprocal foreign business avenues for local companies in the same industry. Read all about The Associated Chambers of Commerce and Industries of India at www.assocham.org.
✓	State Government Industries Ministry: Socializing at the state level is also easy because states are always looking for a fresh investment that generates new employment and wealth. State governments have a lot of leeway in granting industrial licenses, leases, land, and so on.
✓	Central Government Ministry pertaining to the industry: From an overall macro point of view, the Central ...