Goa is the smallest and most popular state in India. More and more of our compatriots want to not only spend an unforgettable vacation on the shores of the Arabian Sea, enjoying unforgettable sunsets and all the accessible joys of the legendary state, but want to spend the whole winter here.
Those who are especially brave and determined completely erase the noise and artificial life of megacities from their lives forever and call their newfound paradise on earth in a short word- GOA. But, as one of the heroes said about Goa fashion film"Boomer 2", money is needed even in paradise.
How to make money in paradise?
Observing the so-called “Russian Goa,” one gets the impression that our enterprising fellow citizens, who have experienced various economic crises, find it even easier to do business in the fertile land of India than in their homeland. Economic indicators of business profitability turn out to be more effective, including due to the fact that the general costs of doing business, as well as expenses for food, rental housing, and medical care in India are several times, and sometimes even tens of times, cheaper than in Russia.
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So, what do enterprising fellow citizens do in Goa? Owners of substantial capital have nothing to worry about, since the not very developed tourism infrastructure in Goa opens up great opportunities for opening new hotels, restaurants and entertainment complexes. But even with a small investment, it is quite possible to open a profitable business in Goa. For example, a private kindergarten.
In Goa, many tourists vacation with families, including those with small children. The services of nannies are in great demand, and many Indian women are happy to work as nannies in Russian families. However, many mothers and fathers would like their children, in addition to care, to have the opportunity to participate in educational games, learn languages, communicate with peers, and receive familiar European children's food. An important factor is also the opportunity to leave the child overnight and be sure of his safety, because in Goa there are so many temptations for mothers and fathers different ages. And this is where private kindergartens with qualified personnel come to the rescue, the supply of which in Goa clearly does not keep up with demand.
What expenses does opening entail? kindergarten and what is the profitability of this business? Let's look at the example of a small kindergarten that can serve about 10 small clients. A traditional villa in Goa consists of two spacious bedrooms, which, with the right selection of furniture, can accommodate up to 10 children overnight, a kitchen, a spacious living room-dining room and an adjacent area, which is used for educational games and activities. fresh air. The cost of renting such a villa (subject to long-term rental) will be 400 - 500 US dollars per month of rent, that is, about 3,000 US dollars for six months of the high season from October to March.
The cost of serving one child per day in private kindergartens in Goa is 15-20 dollars per day with meals, that is, 29,000 US dollars, subject to full occupancy for five months of the high season (during the New Year and Christmas holidays, the cost of service is usually in twice as high).
The cost of feeding one child per day will be no more than $4 per day, that is, $5,800 for five months of the high season. As a rule, private kindergartens for a small number of children are family businesses, without hiring hired labor. If there is no desire to work at your own enterprise, then you need to take into account the costs of paying staff - from 300 US dollars per month for one employee.
As a rule, there are no expenses for advertising a private kindergarten in Goa. Advertising is passed on by word of mouth among residents of Goa, and such unsophisticated marketing techniques as advertising on various advertising spaces such as poles and notice boards in a minimarket or cafe are also used.
Obtaining permits is both a complex and simple issue. On the one hand, in India the bureaucratic machine works hard and slowly, on the other hand, the corruption of local officials and the low rates of “baksheesh” remove obstacles to the noble goal of legitimate business in India. However, according to the same scheme, obstacles are eliminated even if the necessary permits you still haven’t completed the registration and the time has come to explain this matter to local officials (which, however, may not happen).
Serious barriers to implementation commercial activities Migration services can repair this if newly minted businessmen stay in Goa on a tourist visa, which excludes any other purpose of stay in the country other than tourism. Therefore, it is necessary to make every effort and obtain a business visa, with which Indian lawyers or Russian agencies will be happy to help.
Business in Goa is seasonal; from May to October there are very few tourists in Goa, and even those who live here permanently tend to spend the rainy season in more favorable conditions. climatic conditions, for example, in neighboring Nepal. However, taking into account the above figures, the profitability of the business is quite high. The already low prices of living in Goa are reduced threefold during the rainy season, which allows us to say that Goa is a paradise on earth for businessmen.
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India has long been famous among tourists as a resort country with the opportunity to relax very cheaply, and for a long time. And in view of all the natural and architectural beauties, many involuntarily think about staying in this paradise longer and opening a business in India.
In India large number available economic legal zones for business, but a small part of them actually operate. It must be taken into account that maintaining entrepreneurial activity will vary greatly from state to state.
Doing business in Goa and in other states is a huge difference at the legislative level and in terms of approach to the issue in all details.
Having decided to do business in India, you will have to act clearly and treacherously, making your way through bureaucratic difficulties, and learn to get along with Indians. Those who are still going to try their luck in this country need to choose a form, it could be:
- completely legal business (there are about 3.5 million registered enterprises in the country);
- small business (more than 30 million micro-enterprises are registered);
- not registered enterprises.
There are a number of economic zones in which registering your business is easy and local authorities contribute to this. But there are also regions in which you will have to obtain a number of permits.
Structure of the Indian economy
Another obstacle will be the intermediaries, the police, who are not averse to receiving baksheesh from a stranger. If something happens, you need to remember that even if you are right, the police will always take the Indian’s side in a conflict situation.
The same applies to judicial proceedings. Even if you have completed everything necessary documents and construction of a hotel or restaurant has already begun.
Indians can file a complaint alleging illegal development of land suitable for agriculture. Land rights could be revoked and development would become illegal.
According to the law, a foreigner can only rent land; it is impossible to buy a plot.
Indians and foreigners prefer to run micro businesses. It does not generate significant income, but the proceeds are quite enough to live in the country.
Opening such a tiny enterprise is much more feasible and less hassle. It is best to get a lawyer during the process to minimize problems. These micro-businesses include:
- telephone owners in regions and settlements where there are no telephones at all;
- courier;
- carrier;
- traders on bicycles;
- garbage disposals.
Choose your state or region responsibly, since some of them are very underdeveloped, people live either without any money or on half a dollar a day.
In India, wages are very low and unemployment is through the roof. Therefore, be vigilant, because in any case opportunity there is a chance that the locals will rob you.
Goa: is it good to open a business here?
The most famous Indian state of Goa confidently maintains its reputation as a cheap resort. People won't pay here large sums for services, despite their high quality.
When deciding to do business in Goa, it is best to choose between a hotel or a restaurant, since housing and food are constantly in demand for all residents and guests of the state
But even this comes with a number of difficulties:
- huge competition;
- all kinds of permits;
- months of waiting for confirmation;
- constant visits from the police and inspection authorities, requiring obvious actions from you;
- government officials who also expect financial gratitude from you from time to time;
- It is not always possible to find conscientious Indian workers.
Nevertheless, there are a very large number of people willing to get a job.
In India, many people speak English.
As for originality in the approach to dishes when opening your own establishment, this is not always a good idea. Tourists usually come here to try local Goan snacks and drinks.
Instability in the legislation of entrepreneurs here is completely defenseless. Only for last decade changes in the legislation on rental real estate have been carried out several times and there is no mechanism for protecting investments in India.
Russian business in the Indian state
Doing business in India is not for Russians simple task. There are a large number of unemployed people in the country, which is why the population's solvency is low. On average, it rarely exceeds 100 US dollars.
To understand how to open a successful business here, you need to study the characteristics of the chosen part of the country and the realities of local life. Today, business in India for Russians without large investments of finance can be successful in the following industries:
- tourist;
- public catering;
- IT technologies.
When the type of activity is chosen, you need a business visa to India. The first time it will be issued for a period of 1 year. This time is enough to find out what’s going on, try your hand and begin to better understand the local peculiarities of doing business. A business visa can be extended.
You need it to register your business and remain legal. not difficult for any of our compatriots. It will be a big plus to confirm that you are serious about doing business in India.
Appearance of Indian Business Visa
Those who open their own business in this sunny country need to understand what forms of enterprises exist:
- Those who have decided to try their luck in India for the first time or are simply newbies can choose Limited Company. This requires capital from 600 to 2000, depending on the type of commerce.
- Representative Office requires more significant contributions; this form of enterprise is usually informational.
- The next type of enterprise is made under the orders of the Indian government. Here you already need a formed business plan and large amount, this will convince the government to take him under its wing.
There are 2 types of taxes in the country:
- Permanent. They must be paid immediately after registering your company or enterprise.
- Revenue growth fees. This type of taxation is paid several years after the business becomes profitable.
It is not necessary to be a resident; anyone can run a business in India, even with a very small amount.
Oil refining startup. Now the head office of their company RRT is located in the USA, the research center is in St. Petersburg. In his column, Oleg Giyazov talks about how they opened theirrepresentative office in India.
A year ago I was designing petrochemical plants for China. It was fantastically boring. So I invited my colleague to take a risk, and we founded RRT, a research company in the field of oil refining. A year ago we only had a mathematical model new technology obtaining gasoline. Today RRT is formally a transnational company. Although keyword It’s still “formal” here. We have an R&D center in St. Petersburg, headquarters in the USA, and a representative office in India. We are just launching in India, and this is an interesting case.
History with seals
You can open a company in India from Russia. Honestly, nothing complicated. You contact an Indian law firm, and they prepare the documents in 5-6 days. Then, via the Internet, you receive a DIN - director identification number. The next step is the Indian Embassy in Moscow or the Consulate General in St. Petersburg, as was the case in our case. Here you need to put several stamps.
This is more difficult. I remember how I came to the consulate. I was greeted by an Indian speaking classic “Indian-English”. That is, it is extremely difficult to understand. I tried to explain myself for 20 minutes - it was useless. Under my ear I heard a desperate “Where should I put it?!” — the courier brought water to the consulate and also could not get an answer. Finally, a woman appeared in the hall, took my documents and left. About 40 minutes later she returned: “Excuse me, what stamps and where should I put them?” I explained. The consul's assistant came out behind her: “You are the first this year who came with such documents. We need to wait for the consul so he can just look at them. Then we’ll put stamps on it.”
We waited for the consul for two and a half hours. “We need to contact the ambassador so that he can simply look at the documents. Then we will put stamps,” said the Consul General. After another hour, the documents were stamped, all that remained was to pay the consular fee.
“There is no money in the cash register. So prepare the exact amount or go for change. There’s an excellent store here on Vosstaniya Street,” the woman said. Then it turned out that the key to the cash register had disappeared somewhere. In total, I spent 6 hours at the consulate to pay 3,120 rubles and get stamps on the documents. It is surprising that it took the presence of the Consul General and communication with the Ambassador to open a representative office in India for one and a half people.
Business Delhi
After registering the company, my colleagues and I flew to Delhi to negotiate with customers. Delhi is an amazing city. In the sense that I was shocked: I was expecting something completely different. Before traveling to India, we booked a hotel on a website where it was written that the hotel was located in New Delhi, the business center of the Indian capital. “Skyscrapers, something like Moscow City, only better,” I thought then.
At the Indian airport, instead of the ordered taxi, a Stalin-era car came to pick us up. We barely sat down live auto with a windshield, there were holes where the side windows used to be, not a single device worked. The driver tried to feel the car: listened to the sound of the engine, frantically pressed the pedals and fidgeted in his seat - this was the only way the car could move and drive.
Our chief engineer Dmitry, a native St. Petersburger from an intelligent family, is principled and never swears. But on the way to Delhi, he looked out the window and repeated one word: “Tough.” It turned out that New Delhi (like Delhi) is an endless number of shabby-looking three-story houses. The streets are crowded with merchants. Absolutely everything is sold in Delhi: you can pick up a stone from the ground and start selling it - that’s normal. There are street shaving stations, instant haircuts, fast food. At the entrance to shopping centers(tiny by Russian standards) machine gunners are on duty. Our hotel was also guarded by machine gunners. Right there, in front of the hotel entrance, on bus stop Monkeys gathered in the mornings. And the locals drove them away so they could have somewhere to wait for the bus themselves. On the other hand, no one wears a traditional sari on the streets of Delhi; everyone speaks fluent English. And here there is a real cult of education, especially natural and technical education (Indian programmers are already known throughout the world, and soon they will start talking about Indian engineers as well).
The cost of real estate in Delhi is noticeably lower than in Moscow or St. Petersburg. For example, we rented an office in the business center for $200 per month. And this is not a closet with a table and chair, but an office with an area of 56 square meters. m with a two-room kitchen.
Indian prospects
Meeting the actual decision makers in India is problematic. We found the most desirable person thanks to the head of our representative office in India - Adash. The customer (the condition of the negotiations is not to advertise his name) knows Adash’s father, a famous professor, well. The status of a professor in India is highly valued. In addition, the client’s son, together with Adash, received an MBA degree from the Calcutta Business School.
The start of the negotiations was delayed by 3 hours due to traffic jams. There are virtually no rules in Delhi traffic. For example, a tractor may be driving in the oncoming lane and this will not surprise anyone. No one even honks - they just let you pass. However, the negotiations with the customer lasted only 20 minutes. But it was a fantastically effective 20 minutes.
In general, India is a complex, but wildly promising market for us. Firstly, it is huge, and secondly, the competition is weak. The main problem of our competitors is that they sell old and fairly simple oil refining technology. Indians easily copy it and do not pay money for a license.
Our situation is different. Our technology is many times more effective and virtually impossible to copy. What is its essence? Now strict environmental standards for gasoline are being introduced in the world: EURO-5 in Europe, MSAT-2 in the USA, etc. For oil producers, this is a huge problem - producing gasoline according to the new standards is very expensive. But we know how to produce high-quality gasoline cheaply. It is necessary to use the technology of combining processes. Theoretically, this is a complex technology, but it gives an excellent effect. After negotiations in India, it became clear that there is a demand for our technology.
Opening your own business in India is difficult due to... great competition. But if you have a goal, a smart business idea and persistence, anything is possible. BusinessTimes publishes the main background information for those who are just thinking about such a difficult step.
Owning your own business in India is a very bold decision. There is no doubt that those who dare to at least try, in each specific case have their own, deeply personal reasons for emigrating to India. There is also no doubt that in a country of 1.2 billion people - India is the second largest country in the world - starting your own business is very difficult. You need experience, knowledge, patience and a little luck - and, of course, a good business plan.
Any physical or legal entity, including non-residents of India, can establish their own company there. The organizational and legal form of company registration can be open or closed, and the most popular types of registered companies among foreigners are the following:
— Limited company — a limited liability company, can be open or closed ; minimum authorized capital for a private limited liability company - 2 thousand US dollars;
— Representative Office - a representative office of a foreign company, which can only deal with information services for the parent company
— Project Office — an enterprise for a specific project in India;
— Branch is a branch of a foreign company that can provide representation services for the parent company, sell goods and services in India, and engage in export-import operations. A branch of a foreign company cannot engage in trade or production in India on its own behalf, and to register this type of enterprise it is necessary to obtain registration from the Reserve Bank of India.
Practice shows that a limited liability company is the most popular form of enterprise organization in India among foreigners. In this case, you are the full owner of the company. If we are talking about joint stock company— a small business in India begins its work with seven or more shareholders, the maximum number of shareholders is not limited.
The already mentioned Reserve Bank of India, together with local Company Registration Bureaus, carry out direct registration after submitting the relevant documents. In order to register a company, prerequisite is the presence of an office located in India, in the state of registration. The registration procedure is determined by the Indian company law - The Companies Act. According to him, your first step when opening own business in India - obtaining an identification number (ID) and a digital signature certificate for proposed directors (DSC).
After you are issued an IND, you will need to contact the Registration Office of Companies (ROC), where you will need to confirm your identity, present documents for opening a company (Charter of the company, Memorandum of the company) and a business plan. The registration office must issue you a final certificate of assignment and registration of the company name.
Once you receive the company registration certificate, you will need to inform the Reserve Bank of India and open a foreign exchange account with an Indian bank. If your company is registered in the form limited liability, the tax will be 36.59%, but if you opened a branch of a foreign company - 41.82% of all profits. Registration of annual income statement of a company is mandatory in India. The company can be managed either by the director himself or by the board of directors, depending on the form of ownership.
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India is an exotic, contradictory country, not very expensive to live in and favorable to small business. Anyone can do it without any special obstacles, including foreigners. This is precisely what attracted entrepreneurs Vasily Popov and Olesya Prokhorova here, who are now developing several projects in India. Vasily and Olesya told the portal site about what local realities they had to face and what commercial success in this Asian country depends on.
Vasily Popov. Graduated from Altai State Technical University (specialty " world economy"), then moved to Yekaterinburg, built a career in the companies Energomashkorporatsiya and ABB-Engineering. Lives in Delhi with his wife and three children. Graduated from Altai state university(specialty "journalism"). Immediately after graduating from university in 2003, she left for Yekaterinburg, where she worked on television. She traveled a lot in Southeast Asia, wrote children's books for the Moscow publishing house "White City" and articles for the Profi-travel portal. She came to India with her designer husband and son.
$1000
for all formalities
When Vasily Popov first came to India in 2006, he had a contract with a Russian company. “I lived on the embassy territory, I didn’t even see Indians every day,” he laughs. When the project was closed a year later, Vasily returned to Yekaterinburg for a short time, then again got a job in India - and eventually finally settled in Delhi.
“In 2008, a partner from Russia, Denis Gazukin, came to me. In Barnaul, he had one of the first companies that dealt with payment terminals. We decided to build the same business on Indian “fields,” recalls Vasily.
Starting a business in India was not difficult. The foreigner only needed a passport with a business visa, and all other formalities were taken care of by the law firm
Approximately $1,000 and one month were spent on registering the company, and about another $6,000 on opening production and renting an office. There were no particular difficulties at this stage - Indian firms do everything clearly, and the state is generally favorable towards small businesses.
Subtleties of mentality
The difficulties began later. As it turned out, in order to reach at least some kind of agreement with the Indians, it is necessary to hold countless meetings, negotiations, write dozens of letters and make many calls - the locals are not inclined to make transactions without prior acquaintance and lengthy discussion.
“It took us about a year to install terminals in the metro - all this time we discussed the details. As the Indians themselves joke, people here aren’t slow, they’re just in no hurry,” Vasily sneers.
After the terminals were installed, a new circumstance was discovered: local residents were in no hurry to trust their hard-earned money to soulless machines.
“We installed about 200 terminals in Delhi, including near the metro, but Indians were wary of them - due to their mentality, contact with a person is more interesting to them than interaction with a machine,” says Vasily.
According to him, other major players who tried to develop the payment terminal market in India also faced the same problem - regardless of the funds invested, no one achieved serious success in this field.
In 2012, the partners decided to freeze the project, but the company, key personnel and terminal production were retained to maintain current orders. And in 2016, the topic unexpectedly took off: large oil and gas companies, ministries and even the Indian army became interested in terminals, but information ones.
“Right now we are not investing a rupee in promoting this project, but we are monitoring tenders. Recently, for example, we won a tender from the Indian Ministry of Health for 26 million rupees ( about $380 thousand – approx. editorial staff), we will supply them with information kiosks. We are preparing to participate in other government projects,” Vasily outlines his immediate plans.
Didn't match the business plan
Olesya Prokhorova came to India in 2011. According to her, the direction for life and business was chosen spontaneously: “My husband and I had experience of wintering in Southeast Asia, but we had never been to India before moving. We decided that there is a large field for the development of suspended ceilings. Since my husband Alexander was an interior designer, he knew all the features of this product. We asked Vasily Popov, whom we knew back in Yekaterinburg, and he supported it, saying that there is nothing like that, come. And we arrived."
The couple decided to develop a business related to suspended ceilings together with Vasily Popov - they created a company Top Ceiling. The equipment was purchased in China and several demonstration samples were made. Investments at the first stage amounted to $35,000.
“Our main trump card was that there is a long rainy season here, after which leaks are inevitable, stains appear on the ceilings, the plaster crumbles... Locals Almost every year we have to do cosmetic repairs,” says Olesya. “Stretch ceilings help to avoid this - even if something leaks, it’s enough to dry the ceiling and it looks like new.”
However, new technologies also encountered peculiarities of mentality: potential clients needed to see and understand how it works. So the first orders came no earlier than a year later, and greatly surprised the Russians.
“In Russia, white ceilings are most popular, and in India, multi-colored ones. How we purchased 5 thousand square meters white linen, so almost all of it is in the warehouse,” says Olesya. “The demand here is for spectacular luminescent ceilings - illuminated, with prints of clouds, sky, flowers...”
“We planned that we would work with stretch ceilings in the mass segment. However, now our clients are mainly large customers - hotels, restaurants, clinics. Therefore, although we reached operational payback in about a year, we have not yet reached what was written in the business plan,” says Vasily. - IN at the moment The local goal is a turnover of 12 thousand dollars per month, which, in principle, was achieved last month. And in the near future there are plans to go “to the masses” with ceilings.
Taxes – through an intermediary
It now costs just over $100 a year to promote suspended ceilings. These funds are spent on subscriptions to paid portals dedicated to construction and interior design.
“In addition, from the very beginning, we have compiled a database of more than 400 companies in Delhi who are engaged in interiors and design, and now we have a sales manager working with them. But there is a nuance here: Indian companies respond very slowly to requests. If you write to ten companies, it’s good if at least one responds. Therefore, now we are helped out by word of mouth, which has already begun to bear fruit,” explains Vasily.
In general, the attitude towards foreigners in India is friendly - sometimes they are trusted even more than locals. It is believed that the quality of imported products and technologies is higher, and working with foreigners is more reliable
However, foreign businessmen themselves cannot do without the help of local specialists, take at least taxes. The taxation system in India is more complex and confusing than in Russia, while a company cannot submit its own reports - it must do this accounting company, registered in a special register.
“We hand over documents to them - invoices, bank statements, and they already prepare all the reports. The cost of services depends on the volume of business. While we had few transactions, we spent about $150 a month on maintenance, now it’s about $300. - Olesya and Vasily explain. - All accounting is done on English, so it’s not difficult to control it.”
Tourism? Why not
The idea of another business, which our heroes are now engaged in, lay on the surface. Tourism is the very area in which many compatriots who find themselves abroad try their hand. And if in Goa, popular seaside resort, competition in the field of tourism services is high (including among Russians living there), then in the northern part of the country, where historical and cultural monuments are concentrated, the market is not yet saturated with offers.
“We figured, why not? We created the company Sansarafan, made a website Sansarafan.com. Nowadays they usually find us by searching for “guide in India” or “excursions around Delhi”, they learn about us through groups on social networks and from friends and acquaintances who have already visited India with our guides,” says Olesya.
Last year, the company began promoting with the help of partner agencies - mainly travel agencies that deal with individual tours. Thanks to the volume discounts that partners receive, they can offer services and excursions in Delhi and the Golden Triangle (Delhi-Agra-Jaipur) at the same price as Sansarafan.
The company focuses primarily on individual tourists from Russia and the CIS countries, those who have already seen a lot and are ready to spend their vacation getting to know unusual sights. But at the same time, the company works not only with tourists, but also helps those who come to India on business.
For example, last fall, Sansarafan employees actively participated in organizing filming for the Friday TV channel, which was preparing one of the episodes of the “Food, I Love You!” program in Delhi. And at the beginning of this season, the participants and the winner became the company’s clients international competition"Mrs. World 2016". In addition, Sansarafan showed all the advantages and disadvantages of India to the guys from Travel TV “On Your Own” (YouTube channel for active and independent travelers).
“Right now, we have all the dates booked until mid-January,” shares Olesya. - On average, during the high season we receive up to 100 tourists per month. In terms of money, dynamics are also noticeable - last year Sansarafan’s turnover was 2 million rupees, this year about 3 million ( about $29 thousand and $44 thousand respectively - approx. editorial staff). We plan to develop further in this market - we already have representatives in other cities of India, and not so long ago we began doing tours to Tibet, Nepal and Bhutan.
Competition with locals
Despite all the favor towards small businesses and foreigners, the main difficulty of doing business in India, according to interlocutors, is still the need to withstand competition with Indian companies. Labor is inexpensive here, and Indians, unlike foreigners, are willing to work for very low wages.
For example, in tourism, Sansarafan often encounters a situation where private Indian guides offer excursions and tours below their cost. As a rule, this is due to the desire to get a client at any cost, and then take money from him for additional services.
“At the same time, they do not give any guarantees for the quality of their services and are not responsible for the safety of tourists or their wallets,” comments Olesya. “By the way, a similar situation can be observed in other industries.”
To survive in a fairly fierce competition, partners optimize costs. For all of the above projects, one office is rented, consisting of several rooms, where you can meet with clients or hold negotiations. All production was gradually also accumulated in one workshop, in one part of which kiosks are assembled, in another part ceilings are produced, in the third a warehouse for materials is organized.
Life hacks for those who decide to do business in India
It’s not for nothing that India is called a country of contrasts, so when moving here, you need to be prepared for anything. Here you can start a business and earn good money, or you can lose all your savings overnight.
So, while this material was being prepared, Indian Prime Minister Narendra Modi announced global monetary reform. Late in the evening of November 8, the news announced that all banknotes in denominations of 500 and 1000 rupees would be considered illegal from the next day and removed from monetary circulation. Old money can be exchanged for new ones only until November 24 (and at very limited quantities, daily limit - 2000 rupees) or deposit it in the bank, explaining the origin of these funds. If the amount exceeds two lacs (Rs 200,000), then their owner will have to pay 90% tax to the state. This is such a radical measure against corrupt officials and shadow businesses.
Think carefully about what you will do. What works effectively and is sold in Russia may not be in demand at all in India. It may be worth starting the business in test mode first.
Be sociable- you will need to personally get to know partners and clients, meet with them often and negotiate. In this country, many issues cannot be resolved by email.
Remember that in India, all business is built on interpersonal relationships and connections, so it will take time to make a certain circle of acquaintances. But subsequently, all successful contacts will work for you.
Keep in mind that India is highly competitive and has a huge population.. It is difficult for foreigners to compete with Indians, since locals have lower costs and more connections. Therefore, it is better to choose areas that are not yet very developed in the local market.
Learn English (the main language of communication) and remember at least basic words in Hindi- they will be useful in everyday life.
Estimate your budget for the first time: Thus, a decent option for renting an apartment in Delhi can be found for $500-1000 per month (you need to pay the first month, make a three-month deposit, and also give an amount equivalent to a month’s rent to a real estate agency). Moreover, all apartments are rented empty - without appliances and furniture. In general, a family of three to four people can live comfortably in Delhi on $1,000 to $1,500 a month, including rent, all running expenses, and even household staff.