India is hot market as economic growth rates soar.

That's the clarion call of Al Goodloe, international marketing expert and editor of Publisher's Multinational Direct.

"Indian economic growth rate rose 10 percent for the last quarter of 2003," he wrote in the May 2004 issue of his newsletter. "This comes on top of annual growth rates of 6 to 7 percent for the past few years."

That pretty picture is further bolstered by the recent appointment of the Oxford-educated economist Manmohan Singh as prime minister of India. He is credited with saving India from economic collapse in 1991 and beginning the liberalization of its economy.

Experts say Singh is "an apt choice to lead India now, when it is fast rising as a global economic power," in the words of The New York Times.

But even before Singh's appointment, Goodloe was advising his readers to agressively market into India. We'd add that with today's depressed DM climate, creative marketers would do well to target such a bullish, English-speaking country.

India looms as a major customer

"India looms as a major customer for Western goods and services to build the support systems for a modern economy," Goodloe continued.

"Much work needs to be done. Highways, electric power, and sanitation are some of the key areas that need to be modernized as India takes its place as a leading power. Publishers have an unparalleled opportunity to get in early on this huge market."

Goodloe offered these steps to help publishers approach the market:

* "For starters, select Indian names from international lists for inclusion in your regular direct marketing campaigns. Numbers aren't large right now, but they are top-quality names. You can build up your knowledge and presence without undue risk."

* "Then combine the international names with selected Indian names from local sources to give you a good market test, suggests Dharti Desai, president of D.D. Worldwide, a firm that assists direct marketers in entering the market.

* "Since India is at the beginning stages of an involvement with direct marketing, the development of larger and more refined lists is still ahead. For publishers, the advantage of starting early is the likelihood of establishing a strong brand and a key market position.

"Of interest to publishers is the announcement of a 50-50 joint venture between BBC Worldwide and The Times of India. A number of new magazines will be launched by the joint venture, according to Nikki Sachdeva of MLA-India."

The best payment option

* "The best payment option for now is a credit card charge. About 20 million cardholders can now use their cards for international transactions. Only recently have significant numbers of Indians been able to freely buy goods and services from Europe and the USA.

"In the past, restrictions on the convertibility of the local currency--the rupee--have hampered attempts by publishers to build up their presence in the market.

"Using the lists of paid multinational magazines and other lists composed of international cardholders cuts your risks. In effect, you would request payment in US dollars or other convertible currencies such as euros and British pounds.

"Please" and "Thank you"

* "'Don't change your control copy,' advises Desai. Most direct marketers find that their control copy, with some minor adaptations, will beat copy written especially for the market.... Review your copy and change obviously American expressions, such as 'ballpark figure.'

"Also, soften the call to order with a 'please' and a 'thank you.'"

PMD, 1501 Third Ave., New York, NY 10028, 212-861-4188, [e-mail]

RELATED ARTICLE: Counts for a sample of Indian lists.

These counts were provided by Dharti Desai of D.D. Worldwide and Nikki Sachdeva of MLA-India.

* Outlook Traveler (leading travel magazine)--17,566 actives

* India Today (news magazine)--144,729 actives

* Regency Direct Marketing (mail order)--400.000; 18,000 hotlines (per month)

* Business Today (leading business magazine)--69,763 actives