For India, is there a Dun & Bradstreet equivalent so I can verify information about a local Indian company?
We are thinking of going into business with a non-public listed company in India but we don't really know much about them other than what they have told us themselves. If this were a US company, we would run a report from Dun & Bradstreet (D&B) to verify their information.
Is there an equivalent service similar to D&B available for non-public listed companies in India?
Hello Jeff , I am extremely sorry , I don"t know a bout indian company .thanks
Jeff, to give an one word answer it is no.
I faced a similar problem years back. Started off from a clean drawing board.
First, I had identify my potential target business with the a cluster research that is geographic specific.
Secondly, most of these clusters have industrial associations. They have a list for companies available with details like, address, number of employees, work they do, key contacts, estimated revenue and a few other pieces of information.
Thirdly, get a telephone directory of a place and cross reference with the second list. More telephone numbers registered in a business name mostly means more business.
Post the same I had two other approached to get business. Either use a business development team to call people to investigate and pitch our services. Or check with the industrial associations and check if you can get a speakers slot in the conferences mostly happens once a year. All the best.
Equifax has an international credit information service in India- http://www.equifax.com/about_equifax/india/en_in
One of the biggest problems outside of North America is the accuracy of the credit information. What counts is current trade information not utility and landlord payments.
Banks do not share their information nor do insurers share. Government organizations and trade commissions have vested stake in promoting business but rarely have accurate information except for the large companies public & private.
Since current payment data is rarely shared most services providing credit data etc get their information from direct from the company they are reporting about.
This is why most trade worldwide is Letter of Credit or prepay.
Hi Jeff. I did some work in India for about a year, I recommend you contact http://newdelhi.usembassy.gov/ , the embassy is in Delhi, and they can direct you best. What city is the company operating from? . I'm sure the embassy would be able to give you some idea on the company you are interested in. Anything I can help you with just let me know. All the best.
I suggest using the MCA (Ministry of Corporate Affairs) website. The information is quite credible. I use it all the time. Let me know if you need help with this. Good luck!
Best would be to look at many sources and collate information:
1. Dun & Bradstreet itself
2. CRISIL, a credit rating agency and part of S&P. They will have information.
3. Industry association reports, example ---All India manufacturers association directory, All India Chemical manufacturers association, etc.
4. The registrar of comapnies also have information on all companies whci are registered with the department of company affairs. Any company that is private or public limited in formation, will be have company documents and annual reports filed there.
http://www.dnb.co.in/ please contact them to get all information you need about your question.
There is two way of verify information about a local Indian company:
1. http://www.mca.gov.in/DCAPortalWeb/dca/MyMCALogin.do?method=setDefaultProperty&mode=16 this is most trusted resource it the portal run by Indian Government and has database of any registered in India.
2. In case you cannot access above website then log on to www.companyinfoz.com it can give you details of director and company both.
Also, D&B has operations in India. If you wish, drop me a message and i can pass on the contact details to you.
Hi , You may write to...
Dun & Bradstreet Information Services India Pvt Ltd
Saki Vihar Road,
Powai, Mumbai 400072. INDIA
Tel: +91-022-28574190 / 92 / 94 / 66765555
Greetings. If it is only verification about a local Indian company, engaging a third party Consultant to do survey, diligence, promoter background check, risk assessment, credit ranking analysis, etc. would be one of ways to look at because the resultant report will be 100% trustworthy. We have done similar exercise for a European client in respect of an Indian company
I am not sure if anyone can claim they know India very well, not even the locals. even people in their own nations don't know them well enough.
Let us take the D &B analysis for US companies and see how businesses function and whether they have lawsuits between customers, vendors, and partners. It is not a "good-for-all" document or analysis as they are all a "point-in-time" and can change rapidly with policies and legal changes.
End of the day, you are going to work with people and the chief of staff who makes decisions at the company in India who is in charge of delivering the product/service or paying for the purchased goods/services. Best way to reduce risk is to:
a - Pilot projects to understand chemistries of working style and culture. Sustain the process till you have gained a reasonable ROI from the efforts.
b - Then develop an ESCROW type account (that has made businesses succeed in the vary nation where D & B analyses didn't quite cut it. This way there is the least risk for mutual parties.
c - The variables in India as a nation are simply multiple in nature, however, the opportunity likewise is tremendously huge and not something to ignore. Protect your business, enhance relationships and make a difference to your customers, people, partners, and vendors with the least risk possible.
d - Any company status of any D & B analysis is only as good as what is turned in or available as a public document. Amending these documents are not as difficult as one would think and so the D & B analysis would go for a spin if it purely depended on paperwork. Get some solid checks and balances in place as you do business.
e - Get referrals, use third party coordinators if necessary to reduce the risk and you not being the first one to do business, this is not rocket science nor does it depend on a D & B analysis to go by. Develop the relationships with the top level executives as there is always almost one person making the decisions that is rarely handed down to the lower levels, especially if you are referring to large volumes of economic exchange.
I believe D&B should be able to help you. Alternatively the Registrar of Companies (ROC) website carries the financial details of each registered company. However, many Indian companies have a lot of business which is not reported and this is difficult to verify. A legal firm or a Chartered Accountant could also help you if the company is willing to cooperate.
I suggest Euler Hermes for any international risk assessment. They also provide receivables risk management and international credit insurance.
In addition to the services and “packages” listed on their website, they are open to developing a personalized arrangement with you as they are cognizant of small business needs and constraints.
Here is the link to their Small Business webpage --
Good luck and best regards,
I know India very well. Been in business myself for some time and understand the risk elements involved in entering India.
Here is a company I came across, but I never have worked with them.
If you tell me more I could help.