India has been considered the next frontier of development in the recent past. As a developing market with increased consumer spending, it offers a unique expansion proposition to companies based in more mature markets.
With a young population, an internet boom and strides being made in infrastructure improvements, the stage is set for the next phase of global growth to come from countries like India. Many companies across the world are therefore considering entering the Indian market.
Why should we register our business in India?
● Large consumption Market- India being a developing country, has the world’s biggest market for manufactured goods and services for companies all around the world. With its large population and a growing middle class with improving purchasing power, it is an attractive consumer market
● Low Labor Cost- India has the second-largest population in the world, and one of the youngest populations in the world. Both skilled and unskilled labour is available for lower costs than most other countries in the world. Therefore it is a great opportunity for businesses to utilize this manpower by outsourcing to India, increasing the productivity and margins of their business simultaneously.
● Ease of Doing Business- With steps taken by the government for the economic development of India, the ease of doing business has increased over the last few years. As more and more approvals move online and have more transparent processes, the overall cost of setting up a business in India has reduced. The World Bank’s Ease of Doing Business rankings have shown India rising significantly over the last few years
● Transparent tax treaties with other countries- India has clear tax treaties with most other countries in the world, allowing for better tax planning and management for multi-national enterprises.
● Incentives for the small and medium scale business- It is impossible to accelerate the business sector without the growth of small and medium scale businesses. A lot of subsidies and incentives are being provided by the government to promote business establishments. Different subsidies like capital investment, power subsidies, tax relaxation are given to create opportunities for small and medium businesses and to ensure growth.