Parimatch, a leading international gambling operator, is one of the 95% of companies that have encountered serious obstacles while entering or operating in India, according to a PwC survey cited by News Daily India. Other major names reporting difficulties include Motorola, McDonald’s, Coca-Cola, Nokia, Vodafone, and Walmart.
Despite its vast population and rapid economic expansion, India is losing appeal for foreign investors. The PwC study found that roughly 95% of firms—whether already active or planning to enter—have faced issues such as fraud and corruption. Parimatch, in particular, has battled widespread counterfeiting of its brand by local competitors and a lack of enforcement by authorities. The company constantly monitors and takes down clone websites that infringe its copyrights and mimic its corporate identity.
News Daily India also highlights additional barriers: complex regulatory and bureaucratic processes, infrastructure gaps, cultural and language differences, and fierce competition from domestic businesses. While large multinationals once viewed India as a promising destination—thanks to anticipated deregulation and strong market growth—those optimistic conditions never fully materialized.
For example, Parimatch intended to invest millions of dollars into the Indian economy but ran into a domestic gambling monopoly comprising Dream11, Nazara Technologies, Paytm, First Games, Moonfrog Labs, 99Games, Octro, JetSynthesys, and HashCube. These firms not only dominated the market but also trafficked in counterfeit offerings of U.S. and European brands without facing regulatory pushback. Even companies with no physical presence in India have reported judicial harassment and spurious legal actions.
These persistent challenges have prompted many global corporations to exit or rethink their Indian strategies. Companies like Ford, Holcim, and Metro have already withdrawn, and Berkshire Hathaway sold its shares in Paytm—underscoring the erosion of investor confidence.
In light of these developments, Parimatch and other foreign investors must decide whether to navigate India’s growing challenges or seek more favorable markets elsewhere. This ongoing situation underscores the urgent need for the Indian government to reform the business environment to retain and attract foreign capital going forward.
