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Emerging Business Landscape in India

Setting up and operating a business in India is getting easier by the day. Over the past 6 years, India has leapfrogged from 142nd position (2014) to 63rd position (2019) in World Bank's Ease of Doing Business Rankings. Some of the most important developments contributing to this achievement include:

  • Ease in starting a business which includes, inter alia, simplification of the registration process with the Ministry of Corporate Affairs and under various labor laws

  • Ease in trading across borders

  • Ease in getting credit

  • Reduction in Income Tax rates for mid-sized companies

  • Relief from taxes for companies setting up new manufacturing facilities and generating large scale employment

  • All major indirect taxes subsumed into a single nation wide tax called GST (Goods & Service Tax), which has reduced the incidence of tax, passed on benefits to businesses and made it far more easy to comply

  • Development of a robust digital infrastructure for making applications to the authorities and adhering to recurring statutory compliances

  • Quick resolution of insolvency, making it far more easy to wind up

In lieu of the above achievements and the ongoing developments, India is set to become the 4th largest economy in the world by 2030. This means that in the next decade, India will be one of the fastest growing economies across the globe, and you certainly do not want to miss the opportunity.

 Now that you're sure that you want to participate in the Indian growth story, here's how we can help you to set up and flourish: 

Deciding the best strategy for your business

Before investing in India, you must have a plan and a strategy that promises enough returns for you to make the plunge. We have the best solution to assist you to make this decision:

  • Feasibility Study - to help you ascertain the feasibility of your business plan

  • Capital Budgeting - to help you understand if this investment makes fiscal sense

  • Due Diligence Study - in case you are acquiring an operating business, you must know if the picture and the numbers that look attractive to you are true and correct

  • Deciding on the best fit strategy for your growth story - With the help of our business experts, we can chart out the business plan that is likely to give you the best possible outcome in the most efficient manner

  • Forecasting and Budgeting - A dynamic financial model will help you keep check of your numbers all the time

Finding the best location for your business

India has 28 states, each of which is unique in its own way. Basing your operations out of the right location is just as important as what you do. There are various aspects that one must consider before zeroing on a particular state and city to set up their business in, which, inter-alia, includes:

  • Demography of the State and the City

  • Connectivity of the State with the nearest port/airport

  • Connectivity of the State with global business hubs, as well as with the location of the parent company

  • Availability of the right skillset and talent

  • Availability and ease of access to key resources

  • Economic policy of the State, its investment landscape and specific reliefs given by the State government

  • Existing infrastructure and growth trajectory of the State in general

  • Existence of a robust market that suits the target of the company (especially important in case of a company engaged in products)

Registration with Authorities

Following are the major authorities with which registration is usually required:

  • Ministry of Corporate Affairs - To set up a Company or a Limited Liability Partnership Firm

  • Central Board of Indirect Taxes and Customs - One must seek GST registration if turnover crosses the threshold limit. If import of goods is also involved, one must also seek license from the Customs Authority.

  • Reserve Bank of India - For seeking approval and reporting of foreign investment

  • Securities & Exchange Board of India - In case the business is engaged in securities of any kind

  • Department for Promotion of Industry & Internal Trade - To obtain benefits available to Startup

  • Employee's Provident Fund Organization - Social security of employees, in case strength of workforce crosses 20

  • Employees' State Insurance Corporation - Social security of employees, in case strength of workforce crosses 10

  • State Municipal Board - For Trade license and Shop & Establishment certificate

  • To setup a factory and manufacture products, a factory license and specific approval from the regulatory authority relevant to the product that you want to manufacture, will also be required.

Handholding operations

It is of paramount importance for any new business to set the right tone from the start. The initial few days of setting up and adapting to the local business culture is crucial. It goes without saying that no one knows how to do the business that you're in better than you do. So, while you can focus on your core operations, we can help you manage all your auxiliary functions, until you're big enough to manage them on your own.

Here are some of the many ways in which we can help you:

  • Recruit the best fit for your ever challenging roles

  • Set up your HR function from scratch and streamline it with best practices and your own global policies

  • Process payroll on an ongoing basis

  • Set up and manage your entire Finance Function, spanning budgeting, bookkeeping, accounts payable, accounts receivable, compliances, payment processing and internal reporting

  • Formulate standard operating procedures (SOPs), which shall continue to guide you in years to come

  • Conduct Internal Audit, Due Diligence Study, GST Audit, Cost Audit, Secretarial Audit and Statutory Audit as and when required

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