India is recognized as one of the fastest progressing nations across the globe. Since its Independence in 1947, there have been constant economic reforms in the laws and legislations. Due to this, India has been witnessing a positive and steadfast transition in the industrial and technological development, income levels & standard of living.
GROWTH OF THE INDIAN STARTUP
With considerable encouragement from the Government and development of effective and feasible regulatory structure, the last decade saw a major revolution in the Indian startup ecosystem. This includes substantial growth in the number of new companies, increased incorporation of modern technology, robust investment structure, increase in global investors, global mergers and acquisitions and globalization
In 2019 India emerged as the 17th Global Startup Ecosystem in the world
With a population of 1.33 Billion, India is the world’s second-largest populated country and is accredited with being the world’s largest democracy. Globally, India is viewed as one of the major markets having a huge potential for future growth. This growth is driven by India’s viable characteristic of population and a constructive progression of the economy.
It is seen that the majority of consumers in urban areas are embracing technology and have far evolved. India also stands as a nation with the world’s second-highest number of internet users. E-commerce culture, employment of Artificial Intelligence and the Internet of Things in various industries and other robust technologies manifest a sign of new opportunities and a promising positive trend in the consumer market.
INDIA HAS THE WORLD's
The accelerated growth of the Indian economy has attracted a large number of foreign investors who have been investing in several Indian companies and stocks. To increase the FDI inflow, the Government of India recently relaxed several rules and regulations for FDI and has also been taking various key initiatives to enable the growth of consumer markets.
As per the World Investment Report - 2019 by the United Nations; India is one among the top 10 host economies for foreign direct investment inflows.
In June 2020,
India’s forex reserves witnessed an
all-time high of USD 501.70 billion
World Bank Group, in its ‘2020 Doing Business’ Report positioned India as the 63rd country in the ease of doing business ranking (out of 190 countries): In the previous year, India was ranked the 77th position. Additionally, many economists foresee India as the country with huge potential to improve this ranking.
Abundant resources, efficient workforce, flexible laws, well-structured taxation system, efficient financial system, a potential market, adequate initiatives and constant support from the Government and other authorities have proven India to be conducive to start a business.
A home to varied cultures, religions and ethnicity, the Indian market, though a highly potential market, could be complex to assess. Companies will have to approach different consumer classes with different strategies. Further, the change of Government, various amendments in the legislation, continuous introduction of new rules and regulations make it necessary for companies to dedicatedly stay updated about such amendments: This could create even more challenges and hardships to set up and run the operations.
Our team at Satram Dass B & CO is highly proficient with the functioning of Indian industries, market evaluation, legal procedures and guidelines. We are transparent, customer-centric and dedicate to working with a pragmatic approach.
We help you at every step of your journey towards successfully establishing and running your business in India. Customized to each business or industry, our solutions are simple, unique and cost-effective.