How to Start a Business / Company in India
What type of Market Potential India Offers for Foreign Companies
India offers plenty of opportunities for setting up business in India by foreign companies. The Indian market is very lucrative and promises for every foreign company to have a market share that its competitors may also be enjoying here. All types and sized global companies have been successful here, whether Fortune 500 or MSME (Micro, Small or Medium-sized Enterprises). Though a lot of India is a price- sensitive market, and the Indian consumer looks for value in the product / service, there is always a huge market potential for the rightly priced products / services. There are tens of billionaires in India today and the figure is rising. India ranks number 4 in the world to have the highest number of billionaires in a country, after the US, China and Germany.
The Need for Setting Up Business in India by a Foreign Company
As above, in view of the huge market potential in India, it stands as a strong need for setting up business in India by foreign companies. There are numerous other reasons as to why a foreign company should enter India, such as vast availability of cost-effective manpower, rich resources, structured logistics and networking, transparent norms and regulations, future growth prospects and so forth.
How India is Taking Up the Coronavirus Pandemic / COVID-19 Challenge to bring Back Financial / Economic Activity
In the wake of Coronavirus pandemic, COVID-19, many countries are banking on India for supporting them, such as for medical devices, ventilators etc. The Indian service industry, such as BPO, IT / ITeS etc have been working hard amid the pandemic, many doing so from “Work From Home” work framework / modus operandi, and the economy will slowly trickle back to normalcy over a period of time. The Indian Government is making every effort in welcoming foreign companies to set base in India, such as through initiatives like “Make in India”. During the start Coronavirus period, around March 2020 end, the Government announced a huge package to sustain the market and economy which partially rebounded the stock market positively from the huge losses incurred at the start of lockdown.
Why to Register your Company in India
To register your company in India, it is the first step that is required to start setting up work / operations in India. In a sense, it is like a passport or gateway to entry in the Indian market and leverages all benefits of foreign company presence here. It is a simple step yet highly important.
Some Important Steps to Register your Company in India
To mention some of the important steps as part of – to register your company in India are:
- Selection of a Company name, e.g., XYZ (India) Pvt. Ltd or XYZ LLP or XYZ LLC etc
- Type of Business in India, such as partnership, LLP, private limited etc.
- Creation of Company Account with basic information on the MCA portal (Ministry of Corporate Affairs)
- Obtaining DIN (Director Identification Number)
- Having DSC (Digital Signature Certificate)
- Obtaining TIN (Tax Identification Number)
Who can help in India in Setting Up Business in India by Foreign Companies and to Register your Company in India?
DBPL, a top and leading consulting company in India handholds setting up business in India by foreign companies and helps in all steps involved, such as to register your company in India. DBPL can be reached by calling them directly at their numbers +91 – 9811431604 or +91 – 9810631559. Or one may email them at email@example.com for more information or questions. DBPL has many services associated with setting up business in India by foreign companies, that can be discussed over on an open and friendly consultation