Liberty Posted July 23, 2013 Share Posted July 23, 2013 http://www.bloomberg.com/news/2013-07-22/why-buffett-bailed-on-india.html Link to comment Share on other sites More sharing options...
ragu Posted July 23, 2013 Share Posted July 23, 2013 I don't have much disagreement with much of that Bloomberg article, but Berkshire's decision seems all to do with not being able to get enough business. FWIW, my experience with them in India wrt to a rate quote was prompt and courteous. They would've set the bar really high, if they'd hung around. http://www.thehindubusinessline.com/industry-and-economy/banking/berkshire-india-to-stop-online-sale-of-insurance-products/article4797836.ece The decision to close down the online distribution portal is due to the tough economic environment here and the lukewarm response from Indian consumers to buying insurance products online, it is learnt. Best, Ragu Link to comment Share on other sites More sharing options...
SharperDingaan Posted July 23, 2013 Share Posted July 23, 2013 More likely is that the reputational risk from the bribes necessary to conduct basic business outweighed the potential return. Link to comment Share on other sites More sharing options...
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