Technology & Product Selection

Many entrepreneurs in India may not be professionally qualified. They start a business just because their friend or acquaintance is doing it, they have the money and therefore want to invest it somewhere or there is a subsidy scheme on capital investment announced by the government. 

They have no idea what they are getting into. Many times the agents of the overseas machinery suppliers hand over the project reports showing excellent returns on investment for a given end product. These reports show investments made by buying their principal’s machines. However this may not be a true picture unless evaluation of competing technologies is done, and the SWOT analysis of the current business environment is done for the chosen end product.