FOREWORD

As they say in business, sharing experiences along with continuous improvements leads to excellence, and so is the origin of this intriguing book that derives from the need of unlearning and learning continuously in the ever-changing environment in which businesses operate. India is a promising business destination due to a large domestic market and favourable FDI policies. It has improved remarkably in the ‘ease of doing business’ in the business climate and continues to strive towards being an attractive destination for foreign investment. This overall improvement in the business environment is drawing the attention of global players.

While India provides various promising conditions with a large domestic market, availability of low-cost skilled labour, announcements of ‘Digital India’ and ‘Make in India’ schemes and other reforms such as the regulatory set up, multiple tiers of governance, a complex tax regime, interpretation of laws and regulations, can often be perceived as daunting for a foreign company exploring the Indian market. Under such circumstances, it becomes imperative for the businesses already operating in the country and those looking for setting up their business in India, to have an overall understanding of the latest provisions of various legislations applicable to them.

With this in mind, the Finland Chamber of Commerce in India (FINNCHAM India) undertook the initiative to create this comprehensive business guide and ready reference for foreign companies looking to set up a business in India, to provide a holistic overview of the corporate, financial, legal
and regulatory landscape in the country.

This book provides a valuable window of information on perspective to enter the Indian market and how businesses operate in India. It will help them get an overall view of what lies ahead. There are certain requirements that need to be followed in case a foreign company wants to start operations in the country. This book explains in detail how foreign companies can invest and start operating in
the country.

My heartfelt thanks to the co-authors of this book, KPMG in India and Dua Associates for their expert insights to put together this body of work which we are pleased to share with the readers. However, we could not have accomplished this endeavour without the cooperation and support from H.E. Ritva Koukku-Ronde, Hon’ble Ambassador of Finland in India and her team, as well as FINCHAM India’s Board Members and Honorary Board Members.

It is our sincere hope that our readers find the information in this publication beneficial while setting out to explore India as a business destination.

Sincerely,
Amit Gossain
Chairperson, Finland Chamber of Commerce in India
Managing Director, KONE Elevator India