Starting a Business in India : India has one of the fastest growing economies in the world today, and with so many foreign firms and businesses attracted to this economic wonder, it is no surprise that the Indian government is making it easier on businesses to start up in the country.
For one thing, the Indian government is cutting back on the red tape, allowing new businesses faster and easier access to registration procedures that are required before a business can be established. A lot of countries are also beefing up their local consulates in the country and providing better information not just to individuals but also to businesses who are thinking of establishing a new business in India. Some of this information includes cultural practices and day-to-day living as well as religion and even some business-specific practices that are necessary to conduct trade in the country.
It is thus important to utilize these services to get to know the land and the culture as well as its potential to enable success for your new business before actually investing in the country. Do research, get in-depth information, talk to experts and consultants and see if starting your new business in India is a viable move.
Once you have decided find the best city in which to establish your business. It must be kept in mind that Mumbai is not the only city viable for trade. There are plenty of other cities in India that have the same capabilities as Mumbai and offer as much as the capital city. Once this is decided as well, then it’s time to get registered. There is a 13-step process to be followed, which covers everything from registering your business name to setting up tax numbers as well as getting insurance. These steps will enable you to set up a full-fledged company in India and put you at the starting block on the road to success.
We hope that our Doing Business in India Guide will help answer some of the routine questions we get asked. Please Contact Us if you need more in-depth assistance when looking to do business with India. We’ll be glad to help.
