It is the right time to do business in India - the nation is showing a stupendous growth rate and the markets are responding to global cues. However it becomes imperative to understand that culturally, the nation is much different to that of Australia.
This would call for changes in which a person should go about conducting business in India, including the language, attire and business etiquettes.
Organizations have realized that it has become necessary to be knowledgeable about the traditions of the native country. The present scenario calls for the organizations to endorse localization - for which they need to understand ethics at a much minute degree.
The coming to age of the world economy has opened up new paradigm in the aspect of business communication - as different communities are set to interact with each other with absolutely no prior history of interaction (McPherson and Szul, 2008, 39). Before dwelling further in the topic, let us discuss how the business fraternity in India is gearing up towards the new global economy. India, as part of BRIC (acronym for Brazil, Russia, India and China), symbolizes the highest growth rate markets in the present world. This is due to the fact that the country has access to a highly skilled, yet cost effective, labor pool and a growing consumer class. This consumer class has a rising disposable income and thus India is the place to be for all the aspiring businesses in the world.
Moreover the country, after years of Government control, is finally opening up to the world economy. ...