From Africa to China: Why Indian companies should look beyond home

Speaking at the India Today BRICS Roundtable in New Delhi, experts discussed the opportunities and challenges for Indian businesses within the BRICS bloc.The panellists broadly agreed that building blocks are in place; the challenge now is turning intent into action. For Indian companies looking to expand overseas, BRICS could offer a new set of markets, partnerships and growth opportunities. From Africa and China to Russia and other emerging economies, industry leaders believe India Inc has enough experience and resilience to take on these markets.Speaking at the India Today BRICS Roundtable in New Delhi, Manpreet Singh, President of the Indian Chamber of International Business (ICIB), Sachin Ahuja, CEO of Alfeco Holdings Group, and Kalpana Ajayan, Regional Head-South Asia at Women’s World Banking, discussed the opportunities and challenges for Indian businesses within the BRICS bloc.INDIA’S EXPORT POTENTIAL IS STILL LARGELY UNTAPPEDSingh said India’s huge domestic market gives its companies a strong base before they venture abroad. Even businesses in smaller cities and towns can build sizeable operations without exporting their products.This means there could be significant room for growth if such companies begin looking at overseas markets. Singh estimates that India could have around $500 billion in untapped export potential as more companies internationalise. The growing interest in India also creates opportunities for foreign companies to find Indian partners, invest in local businesses and explore mergers and acquisitions. BRICS, he said, can help bring such opportunities to the forefront.AFRICA OFFERS ROOM FOR INDIAN BUSINESSESAhuja, who was born in India and built his business in South Africa, said Indian companies should look at South Africa as more than a source of raw materials. His experience, he said, shows that Indian entrepreneurs can build successful businesses in foreign markets despite the challenges that come with operating in an unfamiliar environment.For Indian companies, he sees South Africa as an important destination, particularly for raw material security. However, the opportunity should not be limited to sourcing and shipping raw materials. Companies can add value locally through processing and manufacturing, while also creating jobs and building stronger links with the local economy.Singh also highlighted Africa as a major opportunity for Indian technology and IT companies. With a large number of countries and a vast consumer base, the region could offer significant scope in sectors such as technology, education and healthcare.HIGHER RISK CAN MEAN HIGHER GROWTHDoing business in emerging markets is not always easy. Companies may face differences in laws, language, culture and business practices, along with political and geopolitical risks.However, Singh believes Indian companies are relatively well equipped to deal with such challenges because they already operate in a complex and diverse domestic market.Local partners can also make a major difference. Businesses entering unfamiliar markets need people who understand local regulations, customers and business practices.CHINA IS ALSO A MARKET, NOT JUST A COMPETITORChina remains a difficult market for Indian businesses, particularly amid geopolitical tensions. But Singh believes companies should not look at China only as a manufacturing rival.China is also one of the world's largest consumer markets, creating opportunities for Indian businesses selling products linked to India's culture, traditions and heritage.He acknowledged that language, culture and geopolitical issues can make operations challenging. But businesses need to find ways to work through these difficulties rather than allowing them to completely deter expansion.At the same time, foreign companies looking at India also need to understand that doing business here requires compliance with local laws and regulations. A transparent and straightforward approach, he said, can help investors build confidence in the Indian market.FASTER COURTS COULD BOOST INVESTOR CONFIDENCEFor Ahuja, one of India's biggest areas for reform is the justice system.Delays in resolving commercial disputes can create uncertainty for businesses and investors. For a company investing a large amount of capital, a dispute that takes years to resolve can affect the value of the investment itself.A faster system for resolving business-related cases, therefore, could make India more attractive to international investors.Ahuja also identified nuclear energy as a sector with significant potential.WOMEN ENTREPRENEURS NEED STRONGER SUPPORTAjayan said the BRICS opportunity must also include women entrepreneurs and smaller businesses.Women-owned businesses in emerging economies can be particularly vulnerable when economies face sudden shocks. Building resilience, therefore, needs to be a bigger part of the support ecosystem.This could include easier access to credit, credit guarantees, capability-building programmes and stronger institutional support.She also highlighted the potential of BRICS trade corridors. The physical and digital infrastructure needed to connect businesses across countries is increasingly in place. The next step is to turn these connections into actual business opportunities.TIME TO MOVE FROM TALK TO ACTIONThe panellists broadly agreed that the building blocks for greater cooperation already exist. There is political support, capital, infrastructure and growing interest in cross-border business.The challenge now is to convert that intent into action.For Indian companies, BRICS could mean access to new customers, raw materials, technology, partnerships and investment opportunities. For smaller businesses and women entrepreneurs, the focus will also need to be on building the confidence and capabilities required to take that first step abroad.With India already sitting on a large domestic market, the next big opportunity could be to take more of its businesses global.- EndsPublished By: Jasmine anandPublished On: Sep 10, 2026 13:33 IST