How to Do Business in India

Business owners considering starting a company in India should hire good legal representation and learn about India's culture. India is a rising economic powerhouse and is essential to a company's global business strategy--doing business in India can greatly increase a company's profitability. Read on to learn more.

Suggestions

1. Find good legal representation in India. India is the world's largest democracy, but it also has a corrupt business and legal system. Navigating the complex relationships between local, regional and national government offices is impossible without broad experience.
2. Establish a working relationship with a trusted Indian partner. Travel to India and meet with several local business owners face-to-face. This personal relationship building will be greatly rewarded in-kind. Bring the appropriate type of gifts for a first business meeting. These should be chosen in advance and cost should not be the first consideration (See Resources).
3.  Meet with the highest level government official possible. Government agency's that regulate business in India have deep layers of bureaucracy and starting at the bottom of the hierarchy will result in many delays to getting a business started.
4. Obtain the proper visa for business travel. Although a Visa Upon Arrival is not required for tourists, business owners will need to consult with the Immigration Service for the appropriate region of India (e.g., Hyderabad, Mumbai).
5. Establish a business identity in India. Produce business cards with a logo, phone number and fax in India, and email and website addresses. It is simple to set up a website in tech-savvy India especially in Hyderabad and Mumbai.

Tip

• Plan to spend a great deal of time in India at the beginning of business operations, as the personal touch generates success.

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How to Open Your Own Business in India

Opening a business in India involves a long and tedious process of registration with various bureaucratic agencies, but many entrepreneurs see untapped profit potential in this burgeoning economy. Gaining an understanding of how to open your own business in India can help you to navigate the maze of red tape required to set up shop.

Suggestions

1. Register your company name with the Registrar of Companies (ROC). Names must be unique and must appropriately convey the purpose of the business. Submit your name application online on the Ministry of Corporate Affairs (MCA) website, where it will pass through several clerks for approval before being posted on the website as approved. It is your responsibility to regularly check the website or call the ROC to ascertain the status of your application.
2. Obtain approval for your articles of association, a certificate of incorporation, and a company seal. Obtain a stamp for your articles of association at an authorized bank. Submit the stamped articles, along with a registration fee and other required documents, to the ROC and await issuance of a certificate of incorporation. A company seal will be required if you plan to offer shares of stock.
3. File for a Permanent Account Number (PAN) and Tax Account Number. A PAN is required for the tax purposes, and can be obtained from an agent or franchise appointed by National Securities Depository Services Limited (NSDSL). A TAN is required for the submission of income taxes, and can be obtained from the Assessing Office of the Mumbai Income Tax Department.
4. Register for value added tax (VAT) and profession tax with the Sales Tax Officer in your local ward. VAT is a consumption tax passed on to consumers, while profession tax is a essentially a tax on doing business, and is required for all non-government entities.
5. Obtain medical insurance to cover employees and guests on your premises. Medical insurance is nationalized in India, and is required for all businesses. This step can take from as little as three days to over a week to complete.
6. Register with the Employees' Provident Fund Organization (EPFO) if you employ more than twenty people. The EPFO is concerned with ensuring the proper reporting of workforce sizes for purposes of tax accounting. According to doingbusiness.org, this registration cannot be completed online, and must be done in person or via mail.

Tips

• Foreign companies opening a branch or subsidiary in India must undergo even more stringent formation requirements. According to reuters.com, firms must obtain approval from a number of agencies before the process can even begin. Follow the link at the end of this article for a list of approval requirements.
• Numerous documents must be filed with the various agencies at each step mentioned above. Follow the link at the end of this article to find a complete listing of document requirements at doingbusiness.com, and always contact each agency to obtain up to date filing requirements before submitting anything.

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How to Start a Real Estate Business in India

According to a study carried out by PricewaterhouseCoopers, India is leading in the provision of real estate markets in Asia in 2010. This trend is due to a huge housing shortage in the country, which is expected to total 26.53 million houses through 2012. India is a popular country to invest in due to the presence of a large number of corporations such as Fortune 500 companies which will serve to attract more international companies to the region. This will in turn create the need for more corporate space in India hence, the need for more real estate.

Suggestions

1. Research and find a location. Come up with a suitable location for your business. Location is key in real estate, therefore, take the time to research well. Some of the best areas in India to set up a real estate office are Delhi and Mumbai. Residential and commercial properties, as well as the hospitality and health care industry, are some of the best real estate industries to invest in the Indian real estate market.
2. Get business licenses. Take the required licensing exam in order to act as a real estate broker. The other alternative is to hire licensed brokers to carry out the businesses for you. You are also required to register your business name with the Registrar of Companies (ROC). You can submit a list of six names to the ROC. Also, register with the Registrar of companies to get the certificate of incorporation and register for Value Added Tax (VAT) with the Sales Tax Officer.
3. Join the local board of realtors. There are a number of housing boards which you can join in India, depending on your location. For instance, the Orissa State Housing Board, the Madthva Pradesh Housing Board, and the Karnataka Housing Board.
4. Join the local Chamber of Commerce. You will need to submit an application form and pay an admission fee of Rs. 500. Most leading corporate bodies in India are members of this organization.
5. List properties to be sold. Create a listing of all the properties that you are selling in India. This can be done online or through the print media. This will help in marketing your real estate business as it will it make it easier for clients to know what you provide. It also makes it easier for clients to find your business.

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Iridescent Pearl Finish Business Card Template

Eggshell (Textured) Business Card

French Linen Business Card Template (White)

Real Estate Agent Business Card (White Linen)

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How to Find Business Opportunities in India

Finding business opportunities in India is easier than it may seem. India, the world's seventh largest country and the second most populous, is a growing market and is quickly becoming a great place to do business. Finding an opportunity in India has never been easier. All it takes is a few clicks online.

Suggestions

1. Decide which type of business opportunity you desire. You can do anything from importing, exporting and trading to investing and franchising. The business opportunities in India are endless. Pick something that interests you.
2. Go to Infobanc.com. At Infobanc.com, you can find Indian exporters and directories of Indian manufacturers. You can also find Indian buyers, suppliers, agents and even trade leads. Infobanc.com has been in business since 1997, and they have a long history of helping connect buyers and sellers. On the left hand column, you can find a directory that can help you locate the exact industry that you are interested in.
3.  Surf over to Tradeindia.com. Tradeindia.com is a powerful directory of Indian business opportunities. The site contains over 1,200 product categories and subcategories. With over six million registered users, Tradeindia.com is a massive resource to help you find whatever it is that you are interested in. You can also contact them via phone at (011) 91 11 26152172 from the United States.
4. Look for other business opportunities in India at Ibf.com. Ibf.com is the International Business Forum. By clicking on their business directory and then the country directory, you can find a list of Indian business opportunities.

Tip

• Before doing any overseas business dealings, it's best to contact an attorney to have her read over the paperwork.

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Office Memo Pad (Red)

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Iridescent Pearl Finish Business Card Template

Eggshell (Textured) Business Card

French Linen Business Card Template (White)

Real Estate Agent Business Card (White Linen)

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How to Write an Indian Business Plan

India is a rapidly emerging market with immense growth potential. The Indian population is second only to China and is also much younger on average. As a result, business opportunities in India are seemingly endless.


However, any business requires a business plan--a formalized plan of how a business will make money. Creating a business plan for India is slightly more difficult than writing a business pan for a developed country, as India burdens its industries with excessive regulations and red tape.

Suggestions

1. Generate an original business idea that can be exploited in India. Ideally, you need to uncover a demand among Indians for a product that is not yet provided. You can also tailor your services to foreigners (e.g., IT outsourcing), in which case you may want to capitalize on the relatively low Indian wages.
2. Study the state of your business industry in India and write a section about it. Write information about the size of the market, the main market players and the regulation of the industry. Also, include information about the demand you anticipate for your products.
3. Write a section describing your products and how you plan to make them. Here you will need to provide the exact features of your products. In addition, write about the manufacturing process, including who will be your suppliers, what it will cost to produce a unit of your product and the price you will charge for it.
4. Write about the business structure of your business. State whether you plan to register it as a sole proprietorship or a company, or even incorporate. Pay particular attention to the regulations, including state and national ones. India is notorious for its red tape, and so you need to think of everything in advance before you will actually commit financial resources to your business.
5. Complete the financial section of your business plan. In the financial section, write about the anticipated sales, costs and profits of your business. Also include data on how much money you need to get started and when your business will be able to break even and start making money, It's better to make your calculations in rupees, though if your business is export-oriented, some data can be given in U.S. dollars.

______________________

Custom Office Supplies

Office Memo Pad (Red)

Office Memo Pad (Bright Yellow)

Weekly To Do List Notepad (White)

Iridescent Pearl Finish Business Card Template

Eggshell (Textured) Business Card

French Linen Business Card Template (White)

Real Estate Agent Business Card (White Linen)

Sorry, there are no results.

Weekly Planner Notepad (White)

Weekly To Do List Notepad (White)

Phone Message Pad