Berkshire Hathaway enters Indian market

Berkshire Hathaway enters Indian marketBillionaire investor Warren Buffett's conglomerate Berkshire Hathaway is all set to enter in Indian market. Berkshire Hathaway will enter Indian market as corporate agent of Bajaj Allianz General. Company will be selling non-life insurance in India.

This is the first direct entry of the Berkshire Hathaway in India. Buffett was planning to make a significant investment in India, and has now done this with an insurance company. For the India operations, it formed Berkshire India to sell and distribute general insurance products in India.

Berkshire India will be selling its products in India with two methods: through popular telemarketing and through not-so-popular method, website. Company said in a statement that upon positive response from the market, they will enter into other related businesses also. It said, "If the market proves receptive, the Company will seek to expand its products to include health insurance, life and travel insurance and other personal lines, as well".

Berkshire India CEO Arun Balakrishnan said in an interview that company is excited to enter into an opportunistic insurance retail market. He also said that Berkshire India and Bajaj Allianz have a mutual goal, that is to provide exemplary customer services.  It is said that Buffett will be visiting India, but for his philanthropic activities.