It is generally safe to address an elder as ‘sir’ or ‘Ma’am’ and use professional titles such as ´Professor´ and ´Doctor´ or courtesy titles like ´Mr.´, ´Mrs.´, or ´Miss´.
Background: Indian culture is based on a hierarchical system so elders and superior are greeted first. Religion, caste and social standing all effect greetings. Family names or surnames often denote the caste or area that an individual originates from; these can have a suffix that denotes the type of their ancestor’s trade. Indians may also use a different religious name.
Bangalore, New Delhi, and Mumbai are home not only to big corporates, but also to thousands of aspiring entrepreneurs who consider the ecosystem of these cities as favorable to start a new business.
Background: The startup culture has seen tremendous growth over the past years. Overall, India continues to hold its position as the third largest startup ecosystem in the world. Startups in India have accounted for over 40,000 direct jobs in 2018. This brings it to a total of over 160,000-170,000 jobs in total. This indicates the direct impact on job creation and employment generation.
Interpersonal skills such as the ability to form friendships are considered very important. However, it has to be done gradually.
Background: People from India take time to build the trust; once the relationship has developed, gifts may be exchange.
We have to be very respectful to the women. In India it’s traditional to greet people using ‘Namaste’ – place both hands together and bow slightly. In urban areas this is often overlooked. Men will often also shake hands when meeting or leaving.
Background: Based on hierarchical system and religious belief, patriarchal families are the norm. Mothers, grandmothers and older siblings care for infants. Women are considered to hold secondary positions within the home and workplace though currently more women are actively involved in professional careers, especially in urban area.
The IT sector has been India’ core strengths and country’s $150 billion industry is banking heavily on startups. The digitisation wave has complemented an increase in the pace of innovation in the healthcare space. India is home to over 1.3 Bn people and it continues to be a country where quality healthcare is largely confined to tier I and tier II cities.
Background: The enterprise software market and healthcare have escalating demands in India, projected to rise further in the coming years. Bangalore known as the Silicon Valley of India continues to contribute to the growth of the sector. Other cities strongly active are Hyderabad and Chennai. Similarly, the Indian Pharmaceutical industry is all set to make it to top 10 global markets in terms of value by 2020. The increasing need to address the ailments and health consciousness in the nation has benefitted this sector. With innovative startups like Practo, Lybrate and 1mg in the digital healthcare sector, the process of meeting doctors has been redefined. Further, the Pharma home delivery services has gone up rapidly thereby creating burgeoning opportunities of business in this sector.
Most of Indian business are hierarchically structured, thus, if you are the boss, your presence is important so that the negotiations can take place at the top level. A subordinate will only be able to meet with a subordinate. With access to the senior contact, you may need only to exchange pleasantries while your assistants concern themselves with the details. Allow your Indian counterpart to do the talking at this stage. Remain aware of superiors and treat them accordingly.
Background: India scores high on the dimension of Power Distance indicating an appreciation for hierarchy and a top-down structure in society and organizations. If one were to encapsulate the Indian attitude, one could use the following words and phrases: dependent on the boss or the power holder for direction, acceptance of unequal rights between the power-privileged and those who are lower down in the pecking order, immediate superiors accessible but one layer above less so, paternalistic leader, management directs, gives reason/meaning to one’s work life and rewards in exchange for loyalty from employees.
India is among the countries with very high rate of business discontinuation. The Global Entrepreneurship Monitor (GEM) India Report 2016-17, prepared by Gandhinagar-based Entrepreneurship Development Institute of India suggested that business discontinuation rate in India is among highest in the world at 26.4%.
Background: Culturally, the Indian population is considerate about job security so attitude towards entrepreneurship is not widely pursued. This is one of the main reasons behind the percentage. The GEM report further added that only 11% adult population in India engaged in early-stage entrepreneurial activities. The survey was conducted among 3,400 respondents aged between 18 and 64 years to assess the level of entrepreneurial activity in the country.
What are the most lucrative and innovative sectors for the startup ecosystem in India? Do people from India appreciate punctuality less than Europeans? Not sure about the answers? Take this CUBE IN quiz and learn more!