Getting to know India/ Indians Presentation bySanjoo Malhotra indiaunlimited.se Project Manager (India Unlimited) ootbtravel.com Founder( Out of the box Travel) Mobil: 0707184609
2014-04-03 SWEDEN-INDIA BUSINESS 2 COUNCIL
INDIAS ECONOMY IS DRIVEN BY INCREASING INCOMES AMONG INDIA’S YOUNG POPULATION OF 1.1 BILLION 2005 2025 (E) (Million Population) (Million Population) Rich (> $ 117,650) 5 43 Upper Middle Class 11 148 ($ 58,820 - $ 117,650) Middle Class 49 427 ($ 23,530 - $ 58,820) Lower Middle Class 410 419 ($ 10,600 - $ 23,530) Needy 454 225 (< $ 10,580*) *Annual income in US Dollars PPP (Power Purchase Parity) Source: McKinsey, The Rise of India's Consumer Market (2007) Business Sweden/ SIBC
“ All animals are equal, but some are more equal than others ” George Orwell •
Dealing with hierarchy hierarchy low hierarchy high being independent being dependent hierarchy for hierarchy is existential convenience privileges equal rights superiors inaccessible superiors accessible
Dealing with relationships • "I" cultures • " We" cultures • the group: “We” • the individual: “Self” • opinion of the group • individual opinions • strong teams possible • team-work difficult • implicit communication • explicit communication • loss of ‘face’, shame • loss of self-respect, guilt
Dealing with one's role in society • “ soft ” cultures • “ hard ” cultures • there are rewards in the • trying to be better than form of wealth or status others is neither for the successful socially nor materially achiever rewarded • status • leveling • confrontation • consensus • competition • “independent” • admiration for achievers cooperation • sympathy for the underdog
Concept of Time
Indian market Insights • Culturally unique • Distinct segments • Large youth market • Under-penetrated • Value-discerning • Attractive ROI • Ultimate connector: God, Bollywood and Cricket: The Indian Holy Trinity
Indianisation
Food Culture Region Religion
Trends in the Indian travel market • 11,5 million Indians travelled abroad in 2011 (+11,8% than 2010) -- ‐ 20% to Europe • Singapore, Malaysia, Thailand and UAE are the main destination countries (nearby) • MICE sector growth: 30% per year • Expected increase of 14% annual growth rate by 2015 • 50 million Indians will travel abroad in 2020
Destination selection tips Some Factors that influence the destination selection: The overall cost of the event or Incentive. ( value for money) The aerial connectivity. The perception of security in the destination. The ease of obtaining visas The variety and diversity of experiences – more is good! At the booking stage Indian clients are price sensitive Before taking the purchase decision, they will negotiate until the last moment Access to Indian food/ facilities to cook Indian food Word of mouth Good shopping, good hotels, global brands
Use Social Media • Over 270 million Indians are connected to the Web via fixed and mobile broadband. • Within 4 years of starting operations in India, Facebook is set to hit the 100 million user mark, having already crossed 90 million users or more than 1/3rd of India’s internet population. 80% of these users access Facebook through mobile – Facebook’s new focus area. • Linkedin has 20 million users in India
Some final thoughts • Lobby/ Adapt/ Cater • Visit Sweden/ Stockholm- more visibility in India • Could Bollywood be a way? • Visit India to learn, create network and get business • Visit India Unlimited Week in April in Stockholm • www.indiaunlimited.se • www.ootbtravel.com
Thank You
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