Balancing the Changing Global Business Dynamics – Your Presence in India
What is the Future of the Global Markets?
The global markets are fast evolving. Some are outpacing others. Many markets are saturated and some companies in these regions are faced with the problem of growth and maintaining a market share. Some are not able to survive. The global rankings of countries’ economies have been changing in a pattern over a period of time. In India, endeavors like easy company registration process in India are further simplified with Government coming out with many promotional activities and themes like “Make in India”.
Current Disruption / The Status of the Market amid Coronavirus Pandemic / COVID-19
In the wake of the Coronavirus pandemic, COVID-19, countries and global economies have shaken deeply. Many global economies have shrunk immensely in the wake of Coronavirus pandemic / COVID-19. For most of the regions, it will take a very long time for even the basic revival of their economies, re-creation of jobs and so forth. India has further enhanced and created an environment of investment in India and the foreign company registration in India stands dynamic and strong.
Where is the Global Market Headed?
Many global companies have been heading towards the promising developing markets / countries like India, Brazil, Russia, over a long period of time. Many international companies have presence in multiple countries for many reasons, such as to remain ahead in competition, balancing of global portfolio, establishing a foothold in a future, upcoming or promising market and so forth. It makes sense for foreign company to take up coming registration process in India to contribute to its stability in low cost production, sales etc.
Some Advantages of having India Presence for a Foreign Company
The existing foreign companies in India are the biggest testimonies and examples of their success stories in India. Below are some of the features to highlight advantages of foreign company’s presence here and the foreign company registration in India:
- Ensure attendance in a promising market
- Huge market size to tap, 1.35 billion population of India
- Take advantage of cost-effective manpower, cheap labor
- Leverage the low-priced talent, skilled, and semi-skilled professionals
- Access to natural resources in India
- Make market share certain to remain competitive globally
…and many more
What is the Company Registration Process in India?
The MCA (Ministry of Corporate Affairs, under the Government of India) is a leading body where any foreign company needs to register. It can be done online as well. A few of the important steps in the company registration process in India are:
- Choose a Company name
- Forming of Directors and getting DIN (Director Identification Number)
- Defining type of Company, such as XYZ (India) Pvt. Ltd, XYZ LLP or XYZ LLP
- Obtaining Digital Signature Certificate (DSC)
- Filling out the eForm for MCA portal (Ministry of Corporate Affairs, under Government of India)
- Obtaining company PAN Card (Permanent Account Number) especially for Taxation purposes
Hence, the Importance of foreign company registration in india as the founding step in having presence in India.
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