A Business Development Strategy for India's Rail Company Ircon in Expanding Businesses to Asia, Africa and Middle East

Abstract

The Ircon is one of the key players in the market of transportation infrastructure development backed by Indian government and Indian railways. It has successful presence in various locations such as Malaysia, Algeria, Mozambique, Srilanka and India. The objective of the company is to expand globally to get lucrative projects simultaneously sustain competition locally and overseas. The idea is to devise a strategic marketing plan based on infrastructure spending data, location accessibility and market friendliness of the target market countries. The research design carried out was of comprehensive study of data collected from email survey, archive survey and depth interview analysis on various stages of business. The survey outcomes from exclusively selected respondents having international experience in construction business have indicated that infrastructure spending of a country is of utmost importance with 56% of survey response agreeing to it, similarly majority of respondents agreed that deciding factors like market entry plan, entry strategies and other attributes in markets.