Market Entry - EDC (Electronic Data Capture) Machine Market in India: Analysis of Growth, Trends and Progress (2020 - 2025)

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About the Market

In the past decade, significant changes were observed in how people pay for products and services. Consequently, a tremendous shift took place towards paperless transactions and credit transfers, cheques and cards became the most popular payment channels. The growth drivers were the debit and credit card transactions, followed by the prepaid card transactions. Aiming at consumer convenience, card issuers and banks are taking locally strategized steps to introduce new technologies to increase market penetration. With banks migrating to EMV (Europay cards, MasterCard and Visa) cards the security levels shall be enhanced, leading to increased usage of cards. The entry of foreign multinationals in developing nations, after consolidating market presence in markets of origin (North America, Europe, and other developed regions) have led to rising competition in developing nations; focusing on operational innovation in marketing and pricing strategies to attract customers across segments. In the past five years, growth in banking and financial institutions had an imperative effect on the economic development of the country. Today, banks have become customer-centric and are focusing on having a good relationship with the customer in order to increase their footprint in the market. In the era of smart money, there has been a shift in trend towards a cashless society. Rapid technological advancement and growing demand for cashless transaction have led to robust growth for EDC machines in the country.

About the Geography

India is the seventh largest country in the world and has the second highest population. It has a parliamentary democratic form of government and has abundant natural resources and sufficient oil reserves. The country has a huge skilled, English-speaking, and inexpensive labor force. Its young population and current economic policies have made it one of the largest recipients of FDI in the world.

Huge investment promises from different countries predict a bright future for India. It has a well-developed administration and an independent judicial system with an ever-growing consumer base. It has a huge pool of hard-working skilled workers in all fields. The government has set up tax and non-tax incentives to establish new industrial entities in specific sectors, which include energy, ports, highways, electronics, and software. The Make in India initiative was launched by the government in 2014 and received an excellent response from the developed nations. The government has also created special areas dedicated to export, called export-processing zones (EPZs) or special economic zones (SEZs), to encourage foreign investment. The strong financial sector and dynamic banking along with huge infrastructure development opportunities have made it one of the largest markets for manufactured goods and services. Due to its huge market and population, it has become one of the most competitive markets in the world. Conducting business in India has been difficult because of corruption, lack of infrastructure, and inadequate security.

Component Name

Unit

GDP (USD billion)

2074

GDP Annual Growth Rate

7.1

GDP Per Capita

1806

Unemployment Rate

4.9

Wages

122.1

Inflation Rate

5.05

Consumer Price Index (CPI)

131

Interest Rate

6.25

Balance of Trade (USD billion)

-7.674

Business Confidence

57.2

Manufacturing PMI (Index Points)

52.1 Index Points

Ease of Doing Business

130

Competitiveness Rank

39

Corruption Rank

76

Consumer Confidence

128

Consumer Spending (USD billion)

240.09

Bank Lending Rate (Consumers)

9.7

Corporate Tax Rate

34.61

Sales Tax Rate

14.5

 

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

 

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of EDC (Electronic Data Capture) Machine Market (USD millions)

                4.1 By Terminal for transaction

                4.2 By End user

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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