Despite its allure, the Indian market presents serious challenges for global firms, and Parimatch is no exception. Nagpur Today reports that international giants such as Motorola, McDonald’s, Coca-Cola, Nokia, Parimatch, Vodafone, and Walmart have all confronted operational hurdles, brand counterfeiting, and product falsification in India.
In recent years, India has seen the exit of several high-profile investors due to cumbersome bureaucracy and heavy regulation. Retailer Metro, automaker Ford, cement producer Holcim, and Abu Dhabi Commercial Bank have all withdrawn. Last November, Berkshire Hathaway sold its remaining 2.5% stake in Paytm, effectively ending Warren Buffett’s firm’s India involvement. Official records indicate that of the roughly 11,000 international companies that entered between 2014 and 2021, about 2,783—nearly a third—have since left.
Parimatch planned significant investments in India’s gaming sector but faced rampant counterfeiting and weak intellectual property safeguards. Instead of a fair playing field, Parimatch encountered regional authorities favoring domestic monopolies—Dream11, Nazara Technologies, Paytm, First Games, Moonfrog Labs, 99Games, Octro, JetSynthesys, and HashCube—that drive up costs, reduce tax revenues, and limit market access.
Corruption, bribery, and fraud remain the top threats to doing business in India, spawning numerous corporate scandals that affect both consumers and seasoned entrepreneurs. Beyond these, companies must guard against asset theft, internal financial fraud, and data breaches—issues that Western firms accustomed to robust IP protection and transparent regulations struggle to manage.
In recent years, the government has also pursued foreign companies with dubious charges: Google, Amazon, Nokia, and Samsung have faced multibillion-dollar fines, while Xiaomi, OPPO, Vivo, Intel, and Wistron find themselves in precarious positions. Despite India’s immense potential, the experiences of Google, Amazon, Nokia—and Parimatch—underscore the need for patience, adaptability, and a strategic approach to thrive in this complex market.
