Doing business in India – the fastest growing economy in the world, the second-most popular country with over 1.33 billion people, the world’s largest democracy and the seventh-largest country by area.
World Bank Report on Ease Of Doing Business In India – the Indian economy will grow at 7.6 % in 2016-17, followed by further acceleration to 7.7 % in 2017-18 and 7.9 % in 2018-19. The new visionary political leadership, favorable demographics with over 50% of the population below the age of 24 years and 65% of the population below the age of 35 years and large educated workforce have further fueled this growth.
Doing business in India offers numerous opportunities for UAE, Canada, Australia companies. It should not be seen as one market, but a series of interconnected regional markets where the legislative and investment climate may change from one state to another.
SP Chopra would advised to obtain the current and detailed information from our experienced professionals for the companies are doing business in India, or have plan to do so. Countries may be UAE, Canada, Australia etc – large or small.
SP Chopra guide will help you in doing business in India.
The key areas to consider are understanding the market, Doing Business in India serves as a guide to India’s business:
To facilitate the ‘Ease of Doing Business in India’, the Indian Government has taken significant measures on the taxation and the legal fronts by launching other initiatives like ‘Make in India’ and ‘Digital India.’
The Indian government has also taken up a series of measures to improve the ease of doing business in India by simplifying and rationalizing existing rules and using information technology to make the governance more efficient and effective.
India is set to climb up in Ease of doing business:
“I leave India with a profound admiration for the remarkable development gains this country has achieved in recent decades. India’s experience holds valuable lessons for the World Bank Group and for countries around the world”
– Jim Yong Kim, World Bank Group President March 2013.
“The fundamentals of our country are very brilliant and I don’t see any reason why the great Indian story has lost so fast its sheen and the reason for the pessimism”
– Indra Nooyi, Chairperson and Chief Executive, Pepsico, November 2013
“It is important to take a moment to remind ourselves of this country’s extraordinary achievements. Some are well known in the world at large — the emergence of a world-class IT industry, the rapid growth of exports and the development of a sophisticated financial sector. India has a strong voice in the global discussion of many key issues, including trade and climate change … These successes highlight the gradual process of reform India has undergone during these years of rapid growth. Regulatory changes have been significant… From abroad, India fits comfortably into the category of countries that are doing well. Its growth is strong by advanced country standards …”
– Naoyuki Shinohara, Deputy Managing Director, International Monetary Fund May 2013.
“Despite the current downturn, long-term prospects remain bright for India. India possesses the fundamentals to grow at sustained high rates over the next several decades”
– Martin Rama, World Bank’s Chief Economist for the South Asia region April 2013.
“India’s biggest strength in the coming years is going to be her demographic dividend. More than 50% of our population is under 25 years and soon, one-fifth of the worlds working age population will be in our country”
– Pranab Mukherjee, President of India while receiving the National Innovation Council’s Report to the People 2013 in November 2013.
“In the past two decades, the rate of growth more than doubled to an average rate of over 7% per annum and the Indian economy was put on an upward growth trajectory. Naturally, there will be periods of ups and downs. The economic cycle presents us years of high performance and years of modest performance. But the important thing to note is that highs are getting higher, and so are the lows”
– Dr. Manmohan Singh, Prime Minister, India, at his address at the Hindustan Times Summit, 2013 in December 2013.
“India is already adding more than China to the world’s working-age population. Although this increment will lessen in the coming decades, India’s share of the global workforce will climb towards 30% by 2030 …”
– Standard Chartered, 6 November 2013.
“FDI flows into India are Quite positive… think we can absorb – easily absorb – US $50b of FDI every year into India.
– P. Chidambaram, Finance Minister, India April 2013.
Fundamental are still better than people believe, People are caught up in all the doom and gloom that surrounds India at the moment. But if we take a step back and do think about those fundamentals, then it seems to me that there are good reasons to believe that growth will be stronger in this current fiscal year than the last fiscal year. Fiscal policy, monsoon and the exchange rate are clearly more helpful”
– Robert Prior-Wandesforde, Director, Asian Economics Research, Credit Suisse, September 2013.