Question

What was the most important lesson I learned about doing business in UAE and India?

Answer 1

The following are the most important lessons learned about doing business

in UAE:

Numerous revenues are greater than one — The boldness and scope of the plan to boost a wide variety of market segments is surprising when gazing at the UAE. In fact, Dubai is a prime example. Similar to Abu Dhabi, the Emirates have considerably fewer oil supplies so, despite its aggressive existence, that means that there was further pressure to set up other income so development sectors. As a consequence, Dubai witnessed real GDP growth of about 9 % annually between 2000 and 2013 relative to an overall GCC of 5.6%. It fostered commerce, development, banking, real estate, tourism, and manufacturing, although at an attractive rate its exports rose.

Adapt to thrive — The old maxim is "adapted to live," but the UAE has gone one better by "adapting to prosper." In a constantly evolving global world, the nation has created a microclimate that best nurtures growth. For sustainable sustainability to be promoted, the members had to consider a broad perspective and rethink strategies. As such, the UAE has gone a long way towards embracing new forms of doing business. An important part of its progress was promoting modernisation in accordance with global developments, and the UAE needed to do all that while seeking the equilibrium that would take into consideration the conventional ideals and methodologies ingrained in the framework of its society.

Lay down the facilities — Without locations to do business and physical resources to help it there would be no industry. What's more – if you're going to create something, make something compelling, make it a statement item, let the world glance at what you're making up, and in turn let out a "wow." Construction is the one industry most common in the UAE. Creating not just new homes, restaurants , shopping centers, and skyscrapers – but whole entire metropolitan environments – is incredible. Dubai's mega-building schemes that created entire new islands in the forms of palm trees, of which the most prominent is, of example, the Palm Jumeirah.

Develop the brand — Following on from the above example, we may conclude that the picture of success is genuinely strong, and hard to avoid for both investors and visitors. In the land where Lamborghinis is operated by police and five stars is not enough to define the luxuries of a hotel, brand UAE is all about enjoying the high life as a way of life. There is nothing else in the world that embraces luxury or shows luxury just like the UAE, and with this comes an underlying attraction to the kind of businessmen who will bring a difference to the growth of the UAE, as well as to the many visitors who add to the country.

in India:

Know the business — As vast and large as the nation itself is the Indian industry. The aggregate market is comprised of a diverse submarket set. Growing of these smaller markets needs its own, industry-oriented solution and expected consumers. Clearly identify your specific group of customers and carefully think about how you want to achieve them. Entrepreneurs have to customize their goods according to local demands and desires. Consult the vast amount of secondary data on the Indian economy and the various submarkets that are available.

Identify relevant local partners — Most businesses who have successfully penetrated the Indian market underline that a great deal of time is required to identify a suitable local partner. The Indian market is very dynamic, so very critical are the personal networks so contacts. Community stakeholders may offer access to business networks and relationships which are challenging to reach for international entrepreneurs. Dutch firms who have spent time and energy in seeking the "right fit" have found that the challenge of pursuing certain partners may not be avoided. RVO.nl can help you find the right business partners too.

Get acquainted with the corporate community — The partnerships are the foundation of the Indian way of doing business. Indians want a strong friendship and shared confidence first, until they touch the hammer. It needs tremendous time and energy, both at a corporate level and at a personal level. Avoid the "Dutch" directness and do not negotiate immediately when the relationship is still being built up.

Become familair with the bureaucratic and legal framework — In India, the legal system and processes are well defined, but they may be incoherent and challenging to understand for newcomers. It is important to know exactly what implications the legal system will have at a later stage to prevent legal or bureaucratic problems. Unanticipated tax levies will impact the business model on lump sum income, dividends and salaries. Any firms outsource policy enforcement and tax problems, or seek expert advice to escape needless complications.

Become familyair for the corporate network — It's really necessary to have the legal process and shareholder delivery in the company. Consider hard on this. Unless this is not handled properly a corporation will waste a lot of money on needless taxation. Many legal systems include a local affiliate, representing the company in India. If a local participant is needed, perform a due diligence enquiry and close review of the planned joint venture. In order to continue efficiently it is best to call in qualified assistance for this operation.

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