Forbes India 15th Anniversary Special

Visionary Quartet drives India's growth story to fuel the aspirations of global players and Indians alike

Introducing Yajna Prakash: The Pioneer of Cross Border consulting. With an unwavering commitment, he has facilitated 350+ American companies' entry into the Indian market through his unparalleled business strategies. His enduring dedication continues to forge new pathways of success, bridging nations and fostering sustainable growth

Published: Apr 29, 2024 12:52:47 PM IST
Updated: May 2, 2024 08:13:44 PM IST

Visionary Quartet drives India's growth story to fuel the aspirations of global players and Indians alikeIntroducing Yajna Prakash: The Pioneer of Cross Border Consulting.

Gurugram (Haryana) [India], April 23: India's remarkable growth trajectory has captured the attention of the global economic community, and it has also emerged as a powerhouse in the global economy, with the World Bank declaring India the fastest-growing economy today. Since authorities have revised the GDP growth rate for 2024, investors worldwide are drawn to India to seize opportunities in its burgeoning markets.

Amidst this wave of interest, it’s easy to envision India’s fast track to being a leading economy of the world or look back in hindsight and realize key transition points. Not so easy at a time when the predominant portrayal of India was as the land of snake charmers and bullock carts.

Yet, a small group of visionary entrepreneurs foresaw India’s potential long before it became a focal point of international attention and took matters into their own hands. A tenacious quartet—Sujay Sen Gupta, Yajna Prakash, Ritesh Dudeja, and Saurabh Gupta—established a small boutique firm CIBC (now known as Acclime India, post-acquisition). For over two and a half decades, across three organisations they have been driven by the vision to utilize India’s huge untapped talent potential and workforce and began attracting foreign companies to establish operations in India across a wide range of industries including agriculture and emerging tech, auto and mobility, B2B services, education, health & wellness, logistics and enabler, media and entertainment, and retail and consumer goods.

Their efforts have borne fruit, with 600+ companies entering the Indian market under their stewardship, catalyzing economic growth and creating employment opportunities across urban and rural India. These partners at Acclime over 25 years has brought in multi-billion dollars of investments into India. They have not only brought a significant number of foreign companies to India but also created more than 15,000+ jobs, both direct and indirect. This has had a profound impact on the Indian economy, contributing to its growth and providing numerous opportunities for its workforce. Their work exemplifies the potential of visionary leadership and strategic planning in transforming the economic landscape. As Acclime continues to expand its reach, it is also looking to enter the space technology manufacturing sector, further diversifying its portfolio and reinforcing its commitment to fostering economic growth in India.

Visionary Quartet drives India's growth story to fuel the aspirations of global players and Indians alikeIntroducing Yajna Prakash: The Pioneer of Cross Border Consulting.

Reflecting on their journey, Yajna Prakash remarks, "Embarking on this path early on was a calculated risk that proved immensely rewarding. It afforded us a unique perspective, allowing us to traverse India's evolving economic landscape amidst shifting geopolitical dynamics. Navigating the challenging and uncharted territory of the US market over the last 2 decades, particularly in non-IT and IT sectors, posed significant challenges. But the thrill was to witness firsthand the changing perception of India on the global stage, from skepticism to admiration, and be an active driver of economic trajectory with foreign entities.

Prakash initially joined forces with Sujoy, followed by Ritesh and Saurabh. Together over 25 years their focus has been unaverred. Prakash’s journey began in client servicing immediately after his time at IIM Kolkata. He played a pivotal role in assisting companies such as CHR. Hansen, Sab Miller, Harley Davidson,Polaris, Lincoln Electric, PopSockets, Post Holdings, Sloan, Church and Dwight, Melaleuca, Simmons Bedding, Hunter Fans, Trek Bicycles, and Tramontina in establishing their operations in India. Having successfully executed strategies for over 30 clients, Prakash transitioned into sales.

In his pursuit, Prakash has engaged with over 3000 companies across various sectors over the past 23 years, aiming to foster their interest in entering the Indian market.

For multinationals eyeing India as a key growth market, understanding and embracing the nuances of the local business landscape is paramount. Rather than adhering rigidly to global blueprints, Acclime India helps companies find success by tailoring their strategies to resonate with Indian consumers and businesses. This approach has not only fostered deeper connections with local stakeholders but also helped enhance operational efficiency and drive sustainable growth for companies.

Acclime helps multinationals realize India's potential by enlightening them on the need for a strong and visible commitment to the country, a willingness to empower their local operations, investment in local talent, and steering them through the needs of Indian consumers by offering the customization the local market requires.

The reasons behind the exit of multinational corporations from India are multifaceted and complex. Some of the common reasons include stiff local competition, an increase in losses, new business models, and changing global market priorities. Regulatory hurdles also pose a significant challenge. India has a complex regulatory framework that varies across states and sectors. Navigating through these regulations and policies can be challenging for MNCs, especially when it comes to issues such as foreign investment restrictions, labor laws, environmental regulations, taxation, and intellectual property rights.

In this context, the strategic thinking of Acclime India and its team brings a fresh perspective to the table for foreign players. Acclime offers top-class business consulting and a proper India Entry strategy, helping these companies secure a better position in the Indian market compared to their competition. By understanding the unique challenges and opportunities in the Indian market, Acclime India provides tailored solutions that align with the global standards of these multinational corporations, thereby facilitating their successful operation in India. This strategic approach could potentially mitigate some of the challenges faced by MNCs and encourage more sustainable foreign investment in India.

Acclime plays a pivotal role in this trajectory, serving as a catalyst for international investment and fostering strategic alliances that drive sustainable growth in the Indian market and beyond. As businesses worldwide recognize India’s potential as a key player in the global economy, Acclime’s expertise and guidance are essential in navigating the complexities of this dynamic market landscape.

The projections for India’s growth potential in key sectors like technology, manufacturing, and services, highlights the crucial role of Acclime in helping businesses navigate the emerging trends and capitalize on the opportunities presented by India’s economic growth.

In this era of economic transformation, India’s relevance to the future of global business is indisputable, and Acclime stands at the forefront of facilitating this journey towards success and prosperity.

The pages slugged ‘Brand Connect’ are equivalent to advertisements and are not written and produced by Forbes India journalists.