You have just entered the Indian market with a joint-venture company. How do you rate your chances of success there?
We won't be looking at credit cards for a while. Initially, we will be offering consumer financial loans or what are called non-banking financial services—like installment loans and revolving lines of credit. And when the insurance sector opens up, we will certainly want to go in there as well.
To what extent will your marketing strategy and approach in India differ from those you have so successfully employed so far in the US?
Even as we speak, our office in Bombay is conducting market research to find out what will appeal most to the Indian client. Our approach in India will be our usual one, driven by behavioural studies of consumers. Another thing we will definitely examine is popular opinions and beliefs versus actual behaviour. For example, it is a commonly-held belief that Indians don't like to borrow. But we will examine whether in reality, Indians behave like that. We will also look at...