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Business Network International (BNI) India, a global business network of entrepreneurs and professionals, expanded its presence in the country by opening its first chapter in Hyderabad on Wednesday.
This is the 54th chapter of the organisation in India, with a total of 1,800 members.
BNI is a 27-year-old business and professional organisation that allows only one person from each trade or profession to join a chapter. By joining a BNI chapter, the member's business becomes part of the global network, enabling him to get exposure, professional contracts and business referrals to help him expand his business.
Mr Niraj Shah, Co-national Director of BNI India, said the network has over 1.40 lakh members in about 50 countries from over 300 different types of professions and businesses. “BNI has helped generate 6.9 million referrals, which together generated Rs 15,500 crore ($ 3.1 billion) of business world wide,” he told media persons here.
In India, the network helped generate business worth Rs 300 crore for its members during 2011. “We see an Rs 20,000 crore referral marketing opportunity in India,” he said.
The business of referrals helps small companies reduce sales expenses and increase revenue through in-house contacts. Each chapter meets once a week and shares contacts, referrals and new business models with its members.
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