With nearly 440 million subscribers, mobile phones cover nearly 40 percent of the country’s population. A study found there are only 2 million mobile phone users actively accessing the Internet through their mobiles and other mobile devices.
Internet and mobile penetration rates are very low in rural areas.
The Government has identified financial inclusion, for example making organised banking available in rural areas, as a key priority. Enabling mobile payments and financial transactions through mobile devices is very much a part of this growth strategy.
Getting your product into market
New Zealand companies have unique technologies and intellectual property that will help to gain advantage in the Indian ICT payments market.
There are huge opportunities for New Zealand companies to find suitable partners.
Distribution channels in India are more relevant for companies selling large volumes of software or hardware products like telecom handsets or computer hardware or software packages.
Regional players and multi-national companies dominate the market more than national players. Most of the software companies in India sell their products directly to the end-users.
They also buy value-added packages from global firms and offer these as customised services to their customers. After sales service is important.
Joint ventures and partnerships with local companies with a strong presence in India have been a successful business model for many New Zealand companies.
New Zealand companies should consider having an ongoing presence in the Indian market to gain credibility, reputation and to secure further business. Companies can set up their own operation through a liaison, subsidiary, project or branch office.
