The number of entrepreneurs wishing to set up a company in India is growing steadily every year, and in this material we invite you to familiarize yourself with the key prospects for doing business in one of the most populous countries in Asia and the world.
The Republic of India is the 7th largest and the 2nd most populous independent country in the world, located in the southern part of Asia.
It is one of the countries with incredibly fast growing economies.
Leading industries: mining of natural resources (copper, manganese, mica, chromites), industry (pharmaceutical, chemical, textile, cement, oil), automotive and mechanical engineering, electronics, agriculture, tourism.
The main state languages are Hindi and English, and 21 additional languages. The population of the country is over 1.3 billion people.
Participation in international organizations: UN, Commonwealth, SAARC, African Development Bank, WTO, Interpol, as well as an observer in ASEAN, OAS, IOM and SCO.
Benefits of starting a business in India
In 2019, the Republic of India entered the top 80 best jurisdictions for doing business in the world, as well as ranked 24th in terms of connection to the power supply system, 22nd place in receiving lending
services and 7th place in protection of minority shareholders in the rating Doing Business magazine.
For those who are going to register a company in Asia remotely, and in particular, are interested in India, we suggest that you familiarize yourself with this list of the main advantages of the jurisdiction:
- Rapid economic growth and relatively calm political environment;
- Established trade with Hong Kong, Switzerland, PRC, USA, Saudi Arabia and UAE;
- 3rd place in the world in terms of GDP;
- Developed transport system;
- Developed banking system;
- The government's interest in attracting foreign capital;
- Access to the largest markets in Australia and China;
- Availability of 90 DTA agreements;
- Availability of 28 special economic zones;
- 2nd place in terms of the number of available labor resources;
- Flexible taxation.
Those who plan to register a company in India should give preference to such business areas as: light and heavy industry, transport, IT-sphere, outsourcing, services, R&D, food industry, medicine and education.
Also, important reasons to register a company in India remotely are the following:
- Low retail cost of electricity;
- The lowest consumer price index;
- Availability of a wide range of profitable projects for investment in trade, insurance, finance, airlines, railways and telecommunications;
- To open an Indian company, you will need a fairly small amount of authorized capital (up to 2000 USD), at least one resident director and a registered office.
How to start a business in India
Company registration in India can be carried out in a convenient remote mode. To do this, we recommend contacting IQ Decision specialists, who will provide you with a full range of professional services to help you quickly solve the following tasks: choose the optimal organizational form for your business, obtain permits for entrepreneurship, as well as draw up all registration documents required.
Timeframe for a business set up will take up to 5 months.