India is counted among the world's largest and fastest growing dairy market. The country boasts of the largest bovine population in the world which is a driving factor behind the growth of the dairy industry. The dairy industry provides employment to a large section of the society. An international firm looking to establish presence in India will face a lot of competitive pressures in the execution of plans. Dairy products find great utility in not only cuisines but also play a key role in various religious ceremonies. Cows are considered holy in India and hold a revered place. International firms should not indulge in any practices that disturb the cultural values of the local population. The government of India is actively involved in the promotion of the dairy industry by introducing various infrastructure projects. Private players are encouraged along with MSMEs to invest in the industry. Foreign players have, therefore, an opportunity to enter the market by forming associations with local players. Entering into a Joint Venture with a local firm will lead to greater market access in the intial stages itself. Moreover, market knowledge of the local firm will allow the foreign firm to develop strategies more effectively. There is also an opportunity to produce more value-added dairy products as most milk is consumed in liquid form. Besides, other gaps in packaging, transportation and cold chain logistics can be filled using the resources of the foreign firm. Now a dairy (milk) business in the Caribbean country would like to start a business in India. which out of the 3 international strategy would the business use? Multi-Domestic, Global or transnational strategy.
India is counted among the world's largest and fastest growing dairy market. The country boasts of the largest bovine population in the world which is a driving factor behind the growth of the dairy industry. The dairy industry provides employment to a large section of the society. An international firm looking to establish presence in India will face a lot of competitive pressures in the execution of plans.
Dairy products find great utility in not only cuisines but also play a key role in various religious ceremonies. Cows are considered holy in India and hold a revered place. International firms should not indulge in any practices that disturb the cultural values of the local population.
The government of India is actively involved in the promotion of the dairy industry by introducing various infrastructure projects. Private players are encouraged along with MSMEs to invest in the industry. Foreign players have, therefore, an opportunity to enter the market by forming associations with local players.
Entering into a Joint Venture with a local firm will lead to greater market access in the intial stages itself. Moreover, market knowledge of the local firm will allow the foreign firm to develop strategies more effectively. There is also an opportunity to produce more value-added dairy products as most milk is consumed in liquid form. Besides, other gaps in packaging, transportation and cold chain logistics can be filled using the resources of the foreign firm.
Now a dairy (milk) business in the Caribbean country would like to start a business in India. which out of the 3 international strategy would the business use? Multi-Domestic, Global or transnational strategy.
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