A week ago both Bloomberg News and the Wall Street Journal predicted that the major agreement between Indian billionaire Anil Ambani and Hollywood uber-director Steven Spielberg was less than a week ago. This blog here suggestted that it may take longer than that.
Why?
First, when you negotiate with India you have to look at the calendar. August 15 was India’s 15th Independence Day. And today, August 16, is a significant Hindu festival, Rakshabandhan or Rakhi.
The Indian side is liable to be a bit distracted, isn’t it? Westerners dealing with India often don’t pay enough attention to the Indian calendar.
Second is the Indian sense of time. While the Ambanis are reputed to move very quickly, their DNA is still has the deliberative, argumentative streak present in Indian culture. Extended discussion builds relationships and open extended discussion build solid relationship. The extra time taken is probably a good thing for both sides.
Third, I am sure there’s some “nibbling” going on the both sides, to improve the deal in their favor by just a bit. Hollywood negotiators are good nibblers and so are the Indians. This might add a few days to the process.
Posted on August 16th, 2008 by Gunjan
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