India is one of the world’s fastest-growing economies. When you talk about developing economies, India features in the list of the top few countries that cannot be ignored.
| Fourth-Largest Economy in the World | Third-Largest Economy in terms of PPP | Consistent Growth Rates |
India has a population of over 1.3 billion with a per capita GDP of nearly USD 1964.88. With many information technology outsourcing companies based in India, the country is viewed as the second-most favorable outsourcing destination after the United States. India is also poised to be the third-largest consumer market in the world after the US and China.
India is preferred by businesses for a wide range of reasons. You can start a Pvt Ltd Company in India, public company, partnership, sole proprietorship, branch office, or subsidiary. Here are some factors that make India an ideal destination to expand your business to a new country:
- India has a high macroeconomic stability score of 90 out of 100. In recent years, India’s economy has been boosted by a strong democracy, strategic reforms, an increase in government investment, etc.
- The Indian government has eased several Foreign Direct Investment restrictions. According to the World Bank’s Doing Business 2020 study, India climbed 14 places to 63rd position.
- India is being recognized as a powerhouse of technological innovation alongside the USA and China.
- India is one of the world’s largest markets for goods and services.
- The country has over 500 million people who are aged under 25. Also, consumer spending is only 57% offering huge growth potential.
- Availability of a good workforce at economical rates.
- English is a widely spoken language in India making it easier for foreign companies to set up shop.
These benefits make India the perfect starting point for your global expansion plans. When you partner with ODINT, you can be assured of end-to-end support for Indian company registration.
Abundance of Economic Opportunities
In recent years, India has been undergoing many changes and has one of the highest rates of urbanization in the world. The untapped potential of the country can be understood by looking at the growth rate of companies in India – around 25-30%.
With around 69 mega cities having a population of more than a million, there are numerous opportunities to grow your business. The Indian government has been working hard on boosting Digitalization in the country and has ensured that most businesses run online. It has also provided a lot of assistance to start-ups like offering funding assistance, tax benefits, etc.
With the country poised to stage a recovery post the pandemic-induced lockdowns, this is the perfect time to start an Indian business.
Types of Companies you can form in India
If you are looking to register a company in India, here are the different types of companies you can form:
- Private Limited Company
- Public Limited Company
- Sole Trader [like a sole proprietorship]
- One Person Company
- Partnership [General or Limited]
- Branch Office or Branch Registration
Indian Company Formation - Features
If you are looking to develop your business in India and register a company, then here are some features and benefits of an Indian company:
- The Companies Act, 2013 governs all aspects of running a business in India
- A Private Limited Company is the most preferred option since it limits the liabilities of shareholders.
- Entrepreneurs can register a One Person Company and get started in no time.
- A company is an independent legal entity. You need to choose the type of legal entity in India best suited to your business before registering.
Indian Company Formation Process
- Verify the availability of the Company Name and reserve it
- Collect all the required documents for the company registration process
- Draft the Deed of Incorporation of the company
- Register the company with the commercial registry in the Netherlands
- Complete registrations (tax, employers, etc.)
- Acquire the required licenses and permits
- Open a Corporate Bank account
Why ODINT Consulting?
If you want to start a business in India and are looking for a partner to help you understand and guide you through the process, then ODINT is the right platform for you. We offer services to help you establish and develop your business in India with ease.
- Consultation services for incorporating a company in India
- Assistance in creating a market entry strategy
- End-to-end assistance in applying for the registration of your business in India
- Tax and Legal support
- Assistance with local regulations and acquiring required licenses and permissions
- GST Registration in India
- Assistance to open a corporate bank account
- Filing TDS returns
At ODINT, we strive to make processes simple and hassle-free and ensure that you can expand your business and explore Indian business opportunities in no time. We strictly adhere to the company formation timeline in India committed by us during the initial stages and work with you to register the perfect legal entity in India. You can get in touch with our experts to know the detailed process and get an estimate about company formation costs in India.
Top Sectors In India
Here are some Indian market insights. Take a look at the top sectors in India.
The Netherlands is the second-largest exporter of agricultural products in the world. It is second to the USA. This has led to huge development in the Agriculture & Commodities sector. ODINT can help you establish and develop a business in this ever-green sector in the Netherlands.