With nearly 1.4 billion people calling it home, India is a very fertile ground for all types of businesses. The demand for all sorts of products and services is huge, but so is the supply. In order to ensure your company is going to be a successful one, you need to find the perfect ratio between supply and demand. In other words, the competition for the product/service you’re offering mustn’t be too fierce. Defining your potential competitors can help you decide whether it’s a wise decision to launch your business at all. At the same time, learning about your competition can help you gather some valuable information about the do’s and don’ts of your business niche. You will know which business tactics to use once your company is up and running. Obviously, defining your business’ competitors is an essential item on your checklist and if you’re not sure how to do it, we’re going to help you out. Before you start your research, you should know that your competitors aren’t only those businesses that sell the same kind of product/service as you, but also those who are your rivals in the cyberspace. We refer to those as your indirect competitors.