Improvement of business environment for Korean companies in India is expected from the inauguration of new government in India

As the government has changed with the inauguration of Prime Minister Modi after 10 years in India, the expectation for business is growing. YTN had an interview with Ceragem, the company doing business actively in India to hear about the effect on the business of the foreign companies the prospect of the economic situation of the future.

India is showing 8 of economic growth every year since 2006. Ceragem launched its business in India in 2006. Ceragem introduced a thermal massager which combined the principal of acupressure moxibustion with cutting-edge modern medical technology to India. Currently Ceragem is running over 300 stores (Ceragem Center) in India. The customers can purchase the product after trying experiencing the product effect at “Ceragem Healing Center”. Ceragem has been receiving great customer’s trust for nearly 10 years with the reliable product quality free product trial service. Ceragem made a remarkable sales record last year they are planning to double the number of the store (Ceragem Center) this year.

In January last year, in the interview with the local media in India, Chair Lee Whan-seong said, “India is the l of new opportunity indefinite possibilities for Korean companies including Ceragem. Ceragem will do our best to help more Korean companies have a success in India by sharing the knowledge that we acquired from our business experience taking a lead to solve the difficulties for the Korean companies in doing business in India.”

India is trying to make many changes under the new government. India’s political system is the federal system. The business environment for Korean companies was very difficult in India because the power of the state is very strong the change of policy system is so often. In addition the basic infrastructure such as road electricity was not prepared the administrative procedure taxation system was very complicated. Now Korean companies are expecting to see changes from the new government’s promise to make a good business environment.

Mr. Jeon Byeong-hee (President of Ceragem Corporate Office in India) said, “I am confident that the new government will relieve the regulation for the foreign companies exp the policy for foreign investment increase the support for them. I expect the improvement of business environment with the new government.”

Ceragem Corporate Office in India has been implementing various training for the employees that can realize Ceragem’s vision with consideration of diversity in customs culture of different regions. Ceragem India is seeking a successful business strategy by providing various trainings regularly such as entire employee workshop, basic training for preliminary distributor training by position & division. Ceragem is trying to strengthen the bond between the business distributors share Ceragem’s company vision philosophy through the trainings.