Even With Strict Regulations, India Welcomes Foreign Investors With Open Arms
With the country’s latest agenda such as Make in India, India is set to expect many foreign investors setting up shop. There are many reasons for you to set up a company in India. If you have step foot on this land before, you could see how industrious Indians are. They are also a vibrant bunch of people. The protective nature of their culture, heritage and architectural wonders has made them a unique spot to visit at least once, before kicking the bucket. For some, that once in a lifetime moment could turn into a business opportunity.
Unique nature of Indians is probably their hospitality. They are very welcoming and will want to build relations even while doing business. For some, this culture may sound unfamiliar, as professional matters remain within professional boundaries. But do as the Romans do. Indians are skilled at work but, culturally, they will be a very concern for your wellbeing as you are new to local things. Just as the government is providing incentives to set up a company in India, so will engaging local help do wonders for your business.
India’s market has been relatively stable for the past decade. It seems to have a secret formula for this situation. With a growing middle-class consumer market in the country, it is an impressive reason to set up a company in India. Although ease of doing business is not the tops for India, the prime management is driving the business reforms to attract more investors. Tax reduction and eased foreign direct investment restrictions are among the business reforms in India that should be applauded.
Competitive Digital Technology
India’s labour market is massive. It is competitive and continuously growing. Digitalization is an inevitable part of globalisation and business progress. Acquiring digital prowess is essential to business survival in this day and age. For you intend to set up a company in India, there is a considerable market of a workforce knowledgeable in information technology, computer programming, computer science, and relevant course. Besides that, India’s general workforce is relatively educated until tertiary education. Some may even graduate from overseas and that exposure has made them even more sought after by foreign companies in India.
Incentive and Investment
Despite the global economic downturn, India is rolling out financial assistance to help micro, small and medium-sized enterprise. For large corporations, there is a production-linked incentive. It is offered to large manufacturing companies, from electronics to pharmaceuticals, to automobiles and even textiles. But with such encouragement, there is bound to spill over effect to local suppliers. There are several sectors that India allows foreign ownership of a business. Nevertheless, set up a company is best with regional expertise on board. Whether as a partner in the industry or as an advisor during the company incorporation. India’s rich in culture and traditional customs may catch you off guard. There are common law, business law and customary law that you would have to adhere to when operating a company in India. Investing in India is a notable move for your business presence in Asia, as many industries are waiting to be expanded.