UPDATED Guide to Doing Business in India for 2024
“In 10 years, India has moved from the 10th largest economy of the world to the 5th largest economy of the world. In 10 years, India is now seen as a country with immense potential which is backed by impressive performance.”
Shri. Narendra Modi, Prime Minister Of India
If you have clients looking to do business in Asia, don't miss the updated Guide to Doing Business in India. Gujarat-based member firm CRS Consulting, has published a 2024 edition of its guide for all MGI Worldwide accounting network members who may have interests in the region - it provides valuable insights into the investment-friendly conditions offered by the Indian government.
Why India?
During the WEF Annual Meeting 2023 World Economic Forum's Founder and Executive Chairman Klaus Schwab said, “India remains a bright spot amid global geoeconomics and geopolitical crises.”
Some of the top attractions to foreign investment in the country include:
- Make in India: the flagship program of the Government of India (GoI) that aims to facilitate investment, foster innovation, enhance skill development, and build best in-class manufacturing infrastructure, completed its 8 years of path-breaking reforms in September 2022. The program is transforming the country into a leading global manufacturing and investment destination.
- PM GatiShakti: a National Master Plan for Multi Modal Connectivity, essentially a digital platform to bring 16 Ministries, including Railways and Roadways, together for integrated planning and coordinated implementation of infrastructure connectivity projects will surely attract foreign investors.
- PLI Scheme
Incentives of Rs. 1.97 trillion have been announced for 14 sectors. Heavy incentives for foreign companies manufacturing in India. - Export Promotion
Special Economic Zones Act to be replaced by new legislation to facilitate states to become partner in ‘Development of Enterprise and Service Hubs.’ - Liberal FDI Norms
Several sectors open to 100% FDI under automatic route. 13 FTAs and 6 preferential trade agreements are signed with several countries.
Doing Business in India 2024
View and download the Doing Business Guide PDF HERE
Access the full content of valuable information about the Indian business environment and how CRS Consulting. can assist you should you have clients with business interests in the country.
About CRS Consulting
Having a legacy of more than 70 years, our firm provides specialised services in the areas of Outsourcing, Direct Tax, Audit and Assurance, Indirect Tax, and Financial Advisory, serving a diverse range of clients in industries as well as services sectors. Our clientele encompasses various segments of the market i.e. software, education, chemicals, NGOs, Government bodies, outsourcing services, engineering, pharmaceuticals, health & medical services, restaurant chains, hotel chains, power & mining, gems & jewellery, real estate and a host of others. We support all types of businesses who find it difficult to have their own finance and accounting teams. We also serve CPA or CA firms in the USA, Canada, Australia and the UK.
For further information visit CRS Consulting or their website.
MGI Worldwide, is a top 20 ranked global accounting network and association with over 8,000 professionals, accountants and tax experts in some 400 locations in almost 100 countries around the world.