BENEFITS OF SETTING UP A COMPANY IN INDIA
Business friendly laws well-crafted foreign policy and a skilled workforce make India attractive venue for foreign businesses. India is the fastest growing country so it is good for business. It is also considered as sixth position in growing international economy. The number of advantages for foreign companies in setting production in India are
- Massive Population
With population of 1.3 billion people. India provides huge opportunity to companies which wants to set up in India. One of the major advantages of doing business in India is its population which provides large number of skilled labors.
- Sustainable Progress
India has now been considered as an emerging growth and powerful economy in the world. It has been observed that Indian youth is interested in moving forward from urban to country side which will provide income to large number of populations.
- Encouraging Laws for Business
There are various laws which have been passed for setting up business India adequately for example Goods and Services Tax which has impact on the movement of goods across the country. There are several laws which has been passed to make it easy for foreigners to start business in India.
- Low Operational Cost
Foreigners are investing in India can rely on low operational cost as the cost of setting business involves several costs such as internal charges, phones, infrastructure and also labor cost is generally low and also the cost of incorporating a company in India is very nominal.
- Initiatives by the Indian Government
Government of India has introduced number of schemes and policies to make the flow of foreign investment easy. Many rules and regulation have also been made with respect to Foreign Direct Investment in the country which make easy the investment made by the foreign entity in various sectors without prior approval from the government.
- Startup Ecosystem
“Startup India Movement” has introduced various reforms and policies to encourage the Foreign Direct Investment in India to promote business relationship among various countries These developments have enhanced India position under the World Bank’s parameters of Ease of Doing Business.
- Extensive Trade Network
India has wide range of network of numerous technical and managerial institutions with highest degree of international standards supported by regional and bilateral free trade agreements.
- English speaking population
The major advantage of starting a business in India as a foreigner is strong base of English-speaking population in the country.
- Indian Work Ethics
The work ethics followed in India needs no introduction. Indian’s workers are hardworking and loyal with undeniable eagerness to learn and they have a “never say no” attitude that make them an ideal workforce for their performance.
- Organized Employability
One of the important factors for starting a business in any market is employability. India currently employees a workforce of around 530 million people out which majority are youngsters have age around 18 to 40 years so they can provide longer years of serviceability and sustainability for every type of business.