Be Present in the Most Promising Market – India
What is a Promising Market to be Relatively Sure About?
India has long stood as a fast emerging and promising market. Global companies that have been present India for a long duration of time have been doing very well here. Today, India is the 5th largest economy in the world, only after the US, China, Germany and Japan. India rose /improved by 2 ranks in 2019. The huge middle class populations of India is growing steadily and the consumption and demand for quality products and services is ever increasing with them. India’s values, heritage, principles etc make it a very friendly and welcoming country for countries across the globe. India has strategic economic, cultural etc tie-ups with many countries.
To mention, some of the promising industries / sectors in India are healthcare, F&B (Food and Beverage), Agriculture, Financial Services, Life Sciences, Logistics, Infrastructure, Real Estate, IT / ITeS / Software Development / eCommerce, BPO + backend Services, Textiles, Retail, Automotive, Automotive Components, Cement etc. For any global company looking at entering the Indian market, company formation in India is a first step.
What to Look for in a Country before Entering it
Every country has its own set of advantages and benefits. Some of the important factors that a foreign company must look for at the time of considering entering a country / market are:
- Stable economy
- Unbiased, friendly and welcoming Government policies, norms, regulations
- Ease of entry into the country market
- Penetration reach / a good market and its size
- Demand for the foreign companies’ products / services
- Abundance of resources
- Availability of cost-effective manpower, skilled, semi-skilled, cheap labor
India offers it all. Hence, company formation in India is an important task to perform.
Comprehending and Understanding Some Steps for Company Formation in India
As above, company formation in India is the first and one of the important steps to pass through for any foreign company wanting to enter the Indian market. Whether it is a big or a small business setup in India, company formation in India is essential.
Below are some of the steps in company formation in India:
- DIN of at least 2 Directors
- Minimum paid up capital of INR100,000 (approximately US$1,300)
- Name availability and forming a Company name, such as XYZ (India) Pvt. Ltd, YXP LLP or XYZ LLC etc.
- PAN Card of the Company
- Digital signatures of the Directors
- Filling of eForm for MCA portal (Ministry of Corporate Affairs)
- Proof of registered address
- Trademark registry (if required)
- Drafting MOA
The Case of Small Business Setup in India
Irrespective whether a foreign company is small or medium in size, the procedure, formalities etc are more or less the same. It takes about the same time for company formation in India. However, it depends on the industry and the size of investment. For example, if a global company wants to establish a mega power plant in India, the concerned authorities / Government / Ministry would be very welcoming but certain procedures / approvals would need to be undergone. For small business setup in India, it can be expected to be much faster.
How to Reach a Top Consulting Firm in India to ensure a Strong Founding Presence in the Promising Indian Market
DBPL is top consulting firm in India. It can be reached by calling at +91 – 9811431604 or +91 – 9810631559.