Doing Business in India
As we approach the future with a positive outlook with great steps forward in technology and living standards; India emerges as a strong global economic player. PM Modi’s government received a high approval rating; from leaders worldwide and internally by Indian citizens. India is moving fast forward towards a technology-friendly, cash-free and transparent way of working in all departments; both public and private. Thus, the Indian government and business houses are looking to the western countries for solutions to the problems that would come during the times of change. This opens a plethora of opportunities for business owners from developed and stable countries like Netherlands to initiate partnerships that are beneficial to both countries. Digitization of payment at points of government-public interface, better waste-management, recycling of resources, and optimum usage of natural resources like fresh water and prevention of food wastage by using better methods of preservation are some areas where India can learn a lot from Netherlands. Make in India, Skill India, Digital India, Industrial Corridors and Smart Cities are all set to boost growth and employment in sectors like defence, construction, civil aviation, broadcasting and banking.
Some Facts About India
- 2nd largest country population-wise.
- The 3rd largest economy in terms of Purchasing Power Parity, behind USA and China.
- 7th largest country area-wise.
- Biggest democracy in the world.
- 25 official languages and over 61 spoken languages.
- Hinduism, Islam, Christianity, Sikhism, Buddhism, and Jainism are main religions.
- The steady growth rate of about 7-8% for last decade.
- Diverse Geographical terrains: the Himalayas, Worlds’ highest motorable road in Leh, Thar Dessert, beautiful beaches along a long coastline, tea plantations in Assam, Coffee plantations in Nilgiris, Sunderbans in Bengal, Coral Reefs in Lakshwadeep, Lagoons in Kerala, many Forest Reserves spread across the country … with all this India is an ideal tourist destination.
Doing Business In India
Doing business in India offers enormous opportunities for Netherlands’ companies. However, India is a large and complex market. 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. The key areas to consider are understanding the market, business culture, market entry structures, building your team, finding customers, managing money, legal considerations & incentives and supporting networks. Companies entering Indian market for doing business need to understand the following:
- Business Culture in India
- Indian Legal and Regulatory Framework
- FDI Restrictions
- Taxation & Incentives in India
- Intellectual Property Risks and Strategies
- The Bribery Act 2010
- Hiring and Building a Team
Find more information about doing business in India :
Government of India
Embassy of India
Smart Cities in India
Minister of External Affairs
Minister of Finance
Minister of Science and technology
Minister of Commerce and Industry