Guide to establishing presence in India 2023

Recognising the country’s investment potential, the government has been actively implementing initiatives to promote the ease of doing business. These initiatives span across multiple sectors and are designed to reduce complexities, enhance efficiency, and create a favourable business environment. Reforms such as a reduction in corporate tax rates, resolving insolvency, dealing with construction permits, investment facilitation, trading across borders, ‘Make in India’ and the Production Linked Incentive (PLI) scheme have been key enablers for business.

There have been other economic developments as well that have made India a prime investment destination. Over the years, the country’s financial markets have experienced significant growth in liquidity and depth, primarily driven by the dominance of banks in the sector. With the Reserve Bank of India (RBI) regulating the banking industry, reforms have been implemented to encourage the entry of new players and enhance market-driven efficiency and productivity.

In line with its commitment to business growth, the government has also set up the country’s first IFSC GIFT City in Gandhinagar, Gujarat. This state-of-the-art financial hub is designed to attract a wide range of financial institutions and market participants, including banks, Alternative Investment Funds, Foreign Portfolio Investors, clearing corporations, and stock exchanges.

By setting up the IFSC GIFT City, India has taken a big step towards creating a robust and competitive financial ecosystem that aligns with global standards. This initiative promotes economic growth and enhances the country's reputation as a global financial hub. India has also seen a surge in technology investments, making it one of the most promising markets for businesses around the world. This wave of investments is not only attracting global giants but also providing a fertile ground for start-ups to thrive. These investments are expected to create millions of job opportunities, fuel economic growth, and improve living standards for many Indians.

With a young workforce and a burgeoning middle class consumer base, the country offers immense opportunities across sectors such as manufacturing, technology, healthcare, and renewable energy.  By implementing measures to simplify processes, improve efficiency, and investing in infrastructure development and digitalisation, India is positioning itself as an as an attractive destination for businesses seeking growth opportunities in one of the world's fastest-growing economies.