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Write a 5 page essay on Internationalization of The Indian Market.Internationalization of The Indian MarketThe market for consumer goods in India has been on an upward trend since the amendment of the
Write a 5 page essay on Internationalization of The Indian Market.
Internationalization of The Indian Market
The market for consumer goods in India has been on an upward trend since the amendment of the Consumer Protection Act 1986 giving consumers an upper hand in deciding what they want (Tiwari and Herstatt, 2012). According to Bruche (2009), consumption trends in India indicate an inclination towards satisfaction of wants rather than the traditional focus on needs. Consumer culture has favoured the development of textile industry as people tend to replace their clothing with new ones every now and then and discarding the ones that are out of fashion. Repair of clothes has become a thing of the past among the working and business class and is only in the rural neighbourhoods that people are likely to repair worn-out clothes. This is an indication that consumers have more money to buy new clothes. According to Beise (2004), a successful consumer society is characterized by an increased rate of production of goods and services, increased purchases and consumption. The Indian society can be considered to be progressing as all these aspects are evident in the market (Bruche, 2009). It is therefore necessary to consider India as a perfect foreign market for the SME’s internationalization strategy.
The Uppsala model described by Johanson and Vahlne (2013) will be most appropriate in the expansion of the textile business in the Indian market. As proposed in the model, it will be necessary to understand and gain experience in the UK market which is the home country where the SME is established.
