The Indian Economy
India is one of the largest countries and the fastest growing economy in the world with a population of over 1.3 billion and a Huge Customer Base. India ranks amongst the top 10 Foreign Direct Investment (FDI) destinations globally surpassing USD 50 billion in fiscal year ended March 2016. Huge working population, supportive government policies and availability of a variety of resources prove to be a perfect blend for setting up of business in India.
Global brands offered by large, small and medium companies have lined up to invest in India as the Government opened more sectors to foreign investment. FDI is freely allowed in most sectors / activities without the requirement of prior approval from the Government. Top investing countries in India includes Mauritius, Singapore, UK, Japan, Netherlands, USA, Cyprus, Germany, France, Switzerland etc. Major sectors attracting highest FDI are Service sectors, Construction Development, Telecommunications, Computer Software and Hardware, Drugs and Pharmaceuticals, Automobile, etc.
There are various options / forms in which a foreign company can do business in India (such as, representative office / branch office / private limited company etc.).
Recent initiative by the Government towards making it easy to do business in India, is migration to the Goods & Services Tax (GST) law. GST is a single tax based on consumption of goods and services and meant to subsume the various indirect taxes currently existing in India on supply and manufacture of goods and provision of services.
We, KrayMan Consultants are an Accounting and Management Advisory Firm, assisting foreign companies in doing business in India. Our services include assessment of legal entity options for doing business in India, assisting in finalization of optimum organisation structure, setting up of presence in India, incorporation activities, strategic management advisory, obtaining registrations, book-keeping, tax, legal and regulatory compliances and management representation. We are founded by professionals from Big4, consulting and industry background. Our team comprises of around 20 professionals including Chartered Accountants, Company Secretaries, MBAs and support staff. We have been working for clients from Japan, Germany, Singapore, China, Italy, Denmark, Thailand, UK, USA etc.
Our advice for our colleagues
We would suggest PAN members across the globe to leverage the huge opportunity that India offers for their clients and other foreign companies (including small and medium). It is likely to be a win-win situation for the members to source / identify companies from their country to invest into India. We shall be glad to be the Indian-counterpart to help such clients explore, set-up presence and do business in India.