Why Setup Business in India
A rising middle class, investment friendly policies, forward-thinking reforms and a country that is rich with minerals and agricultural resources have proven to be some of India’s major strengths that has successfully pulled international investors to its shores for several years and more.
Why are entrepreneurs eager to setup a business in India? Because of the huge untapped market potential that lies within the country, and for the following reasons listed below:
Fast Growing Economy
Being the 3rd largest economy in Asia based on GDP and the world’s 2nd largest country by population, India is home to a massive consumer market, and its economy and GDP is only expected to keep growing and progressing moving forward. India’s growth rate today remains as one of the highest in the world, and shows no signs of slowing down anytime soon.
The government of India too allows foreign direct investments in various sectors which include retail, finance, railway, telecom, airline and insurance, which is beneficial for investors and entrepreneurs who are looking to setup a business here, especially if it is within these sectors.
Double Tax Avoidance Agreements
India has signed 90 double tax avoidance agreements and 28 free trade agreements, which allows investors to not only reduce their withholding taxes, but also market their products to other nearby major markets, which include China and Australia.
Diversity is Welcomed
India is open and welcoming towards diversity, with several international brands and companies already making a home for their company on the shores of the country. The entrepreneurial spirit is evident with the influx of new businesses that have come into the country in recent years, with several international organizations setting up businesses in urban centres including Mumbai, Bangalore and Hyderabad.
English Is Widely Used
Thanks to the country’s historical relationship with the UK, investors won’t be hard pressed to find highly skilled graduates who are fluent and well-versed in English. Relatively few language barriers make it easy for investors to conduct business in India. India’s extensive pool of experienced people and the high value placed on education certainly puts India on top of the competitive market.
Strong Work Ethic
The locals have a strong work ethic and take pride in the work that they do, often working long hours and showing commitment to working their way towards better positions within the company. Employees in India are willing to work as hard as needed, and this proves to be a huge advantage for international organizations who want committed employees joining their ranks.
Advanced Infrastructure and Technology
India has always been among those at the forefront of the latest technology. With its excellent infrastructure system and the latest technologies in place, doing business in India for international investors will prove to be a breeze.