A recent PwC survey reveals that 95% of companies entering or operating in the Indian market have experienced fraud. Notable global players such as Coca-Cola, Nokia, Vodafone, and Parimatch are among those facing significant challenges, according to News Daily India.
Specifically, Parimatch, a prominent gambling industry operator, has encountered serious issues including counterfeit products and copyright infringements by local competitors, often overlooked by Indian authorities. The bookmaker had planned to invest millions in India’s economy but faced obstacles due to the dominance of domestic gambling companies like Dream11, Nazara Technologies, Paytm, First Games Moonfrog Labs, 99Games, Octro, JetSynthesys, and HashCube. Many of these local firms have reportedly copied products from US and European competitors, with little intervention from regulators.
News Daily India also highlights instances where companies, some of which have never conducted business in India, were subjected to persecution and legal pressures. Many foreign investors face deliberate obstacles, as Indian authorities have increased scrutiny and imposed hefty fines on major corporations including Google, Amazon, Nokia, and Samsung. Other companies such as Xiaomi, OPPO, Vivo, Intel, Wistron, and Parimatch have also navigated a complex and often hostile regulatory environment.
This challenging landscape has compelled some leading global companies to exit or rethink their presence in India. For example, Ford and Abu Dhabi Commercial Bank have withdrawn from the market citing regulatory and administrative complexities.
Given the difficulties encountered by well-known companies such as Coca-Cola, Nokia, Vodafone, Walmart, Parimatch, Xiaomi, OPPO, Vivo, Intel, Wistron, Ford, and Abu Dhabi Commercial Bank, it is evident that the Indian government must take serious steps to improve the business climate if it wishes to continue attracting foreign investment, including from firms like Parimatch.