Byapaar.com – The Indian Business Blog

Business or enterprise is an organization where buying or selling of goods takes place. It is a place where trading of goods and services takes place. Over the years India has been a hunting ground for many personalities to set up a business in that country. India is quite famous in the global market for its business. Their export quality has also been very good. Many companies import wheat and rice in India as India produces bulk of rice and wheat do its good agricultural condition. India is also doing well in cotton, silk, leather business and many more. Seeing with many companies around the world has shown interest to do business in India, as they know once they have habituated the traditions and the customs over there and winning the people’s heart by satisfying them, it will be difficult for them to get insolvent or not to do business there.
In India doing business is just not enough. In this part of the world people are very emotional and sensitive so to do business you have earn your respect, the loyalty and maintain a healthy relationship with the people so that they come again and do trading with you. Customer satisfaction is the key formula to do business in any part of the world. Many foreign companies have opened their branches in India like Nike, Adidas, Puma and many more. Over the years they have successfully won the hearts of million people especially the young generation. This happens because of the quality of their product; forcing the people to buy this product and making them come again and again. Due to this change in time people of India have slightly inclined towards the Western culture and so with the change of fashion people who are doing business have to change their business strategies too. The foreign companies which struggled to make a name in the ‘70s are now ruling India. The domestic companies are also doing well by increasing their quality of their product and giving a tough competition to the foreign companies which are doing business here.
In recent years Indian markets have been very competitive. Everybody is trying to prove among the people that they are the best. But nowadays people’s mentality has changed a lot. Now they don’t buy stuffs which they find attractive. Nowadays they follow brands; it may be an Indian brand or a foreign brand. Nowadays they go by quality and not attractive features. Some brands have made a name in India by winning people’s heart and the customer likes to buy only those brands which are famous in India and also outside.
This is what Indian business is all about.

Day before yesterday, the caretaker Finance Minister of India Mr. Pranab Mukherjee (the Ministry usually lies with the Prime Minister Dr. Manmohan Singh who is recovering from By-pass surgery) announced another round of stimulus package to bring impetus into the economy. This is the third such initiative by the government in as many months. This time no fund is to be infused to help the market reeling under severe liquidity crunch but the latest effort is aimed at reducing production costs of goods so that demand increases and industry grows. For this purpose the government has reduced excise duties on several products by 2 percent to 8 percent from existing rate of 10 percent. This effectively means cheaper steel, cement and consumer durable goods. The automobile sector which had a booming last year but suffering from current economic meltdown will not benefit directly. But due to cheaper rates of raw materials and accessories it might get some indirect lift. Also the heavy vehicle sector which has excise rate of 20 percent will get direct benefit from the latest move.

But the highest gain will be reaped by the service sector as service tax too was slashed from present level of 12 percent to 10 percent. It will benefit all those industries engaged in service sectors like hospitality, BPO and telecom. Experts expect that mobile rate will come down due to reduction in service tax. This reduction in taxes will cost the government to the tune of Rs. 300 billion.

This third stimulus package was announced on a day global rating agency Standard & Poor downgraded India’s sovereign credit rating due to ever growing fiscal deficit that is likely to be around 11.2 percent of GDP (Rs. 3620 billion) during this fiscal ending 31st March. Being an election year, the government took many populist measures like hiking central government employees’ salaries, writing off agricultural debt, high crude prices for most part of the year and lastly but not the least – the economic stimulus packages. This down gradation will not harm the government as it seldom borrows from foreign (continue reading…)

My exam is over- but my PCP (Personal Contact Program) for second year will start tomorrow and will continue till 27th. Still I’ll keep blogging regularly here.So no problem.

The other day I was browsing the net and chanced upon a site called UK Business For Sale. To be frank I have never heard of the word business sales as I live in a remote place in India. I do frequent to big cities for this or that reason but still have never came across it.

Let me be more forthcoming! I believe this is a totally new concept in India.

So what is this concept?

Simple! There are some agencies that broker between buyer and sellers of start-ups or established businesses. The agencies have people as members from both groups – buyers and sellers. To be more precise, suppose I own an established business that is making reasonable profit. But there is something I found which seems more interesting and appealing to me. In this situation I want to sell my current business so that I can venture into the new domain of my interest and also can fully concentrate on it. Instead of finding the suitable buyer myself, I can hire an agency that will do the needful for me for a specific amount of fee. This will save me lots of time, energy not to mention the convenience factor. In India, I saw this in real estate rector but not in business establishment sector.

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