India’s enormous population makes for a potentially profitable market for all kinds of goods. But sometimes, even hugely successful international companies and brands are unable to crack the secret behind making it to Indian consumers’ hearts and pockets.
The Indian market is notorious for being an unforgiving arena for businesses. However, in the World Bank’s Ease of Doing Business Report, India ranked 63rd among 190 countries in 2019, having jumped from its previous 77th rank.
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The competition for companies to survive in the Indian economy is tough, with India having developed a thriving startup culture over the years.
Ever since opening up the economy to the world in the 1990s to keep up with the increasingly globalized world, many multinational companies have found success in India and have become a significant part of the Indian marketplace.
India, with its rising middle class who has a disposable income, is a valuable retail market which was estimated to be worth nearly 1.2 trillion dollars in 2018. Naturally, companies would like to capitalize on this population and hope to gain profits in the Indian market.
However, there have been some companies that may have found success in other countries but failed badly in India due to many reasons ranging from an inability to adapt to Indian preferences to price issues.
Here are 5 companies that failed to make a mark in India in the long run:
Which of these companies will you miss having in India the most? Tell us in the comments section below.
Image Credits: Google Images
Sources: CNBC, Business Line, Economic Times
Find the blogger: @RoshniKahaHain
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Well, Failure is stepping to success, Every failed business model give us a lesson to learn. SO never be afraid of failure rather try learning from it and gain experience from it.