The Indian economy and market continue to offer compelling business opportunities, making India as one of the top destinations for multinational corporations. India is on the path to becoming one of the largest consumer markets in the global economy.
Since India’s steady economic liberalisation process in 1991, the liberalised foreign investment and trade policy have created a favourable business climate, diversified industrial base and growth rate in trade that continue to build India’s success story. India has generally been viewed as an outsourcing destination, however, the country is increasingly remarked as the world’s largest potential market for goods and services with land of abundant natural resources and untapped market potential.
India adopts international best practices in the production of a range of goods and services supported by large manpower base and strong macroeconomic fundamentals. A robust and stable financial market in India has transformed from a controlled system to one that is liberalised with lucrative and resilient strong credit, money, foreign exchange and capital markets. Labour force in India offers a competitive edge due to its strong knowledge and skill base with a significant proportion of English-speaking population.
All prospective overseas businesses and investors should seek and understand the appropriate commercial and corporate legal requirements and local market conditions to establish a business presence in India. The requirements and processes depend on the form and nature of the business. Considering the geographical dispersion of India, overseas companies doing business in India are often recommended to set a regional plan, which focuses on multiple locations, and markets within India through appropriate partners in each region.