O'Reilly logo

Doing Business in India For Dummies® by Ranjini Manian

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Manage Your Money

Familiar with the importance of monitoring the financial aspects of an operation, Chanakya stressed the need for consistent accounting and frugality with funds.

He also has this to say: “If the (officer) does not deliver the income that has accrued (or) does not pay the expenses put down in writing (or) denies the balance received, that is misappropriation.” That’s an important pointer for you in India, because it’s related to the problem of hierarchy, something that may seem strange and irksome to you.

Although educated, enlightened top-level management staff in India play fair, you may find that your accountant or someone in the lower rungs of management chooses to exercise power in petty ways like holding back legitimate payment to staff and clients. They may employ delaying tactics, such as saying that invoices haven’t been received or processed, sanctions are taking excessive amounts of time, authorized signatories are away, and so on all to keep people waiting. Explain, sometimes many times over, that such practices aren’t tolerated. The message will get across.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required