A Guide to Doing Business in India – IMC Group
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Doing Business in India





1) Indian Economy – Opportunities and Challenges

India is a growing economy which offers unprecedented business opportunities. Indian markets are considered as one of the key markets from where future growth is likely to emerge. But this multi-cultural and multi-faceted market also poses a lot of challenges in terms of complex accounting, tax, and regulatory environment. These risks associated with venturing into a new territory become the primary cause of concern for international companies looking to enter the Indian markets.

 

Challenges faced by Foreign Companies for Doing Business in India

  • Complying with the various legal, accounting and tax regulations
  • Understanding the way the Indian markets work and the local practices observed within the market
  • Insufficient understanding of the policies governing the destination country
  • Acquiring permits from various governmental agencies for business set-up
  • Coordinating with multiple vendors, suppliers, logistics, etc.
  • Land acquisitions and registering properties
  • Investor protection and enforcing contracts
  • Intellectual property protection
  • Working with multiple consultants for multiple services/tasks.

2) IMC Services for India Market Entry

We tailor-make our services to suit the requirements of our clients, based on their entity size and needs. We can be your trusted partner to ease your entry into the Indian markets by sharing our local expertise for your benefit. Our India entry team consists of professional experts and associates who possess deep knowledge of Indian regulations and policies. We can become your one-stop solution for planning and implementation of your entry in Indian markets.

 

Company Formation: This is the most crucial aspect of any business – to select the right type of entity. This could mean a Wholly Owned Subsidiary, Limited Liability Partnership, Joint Venture Company and so on. We can assist you in incorporating the right entity as per your business needs. We can also help establish Liaison Office, Branch Office and Project Office for you.

 

Market Research and Entry: This is one of the primary challenges that any international company looking to penetrate the Indian market faces. Our efficient team can help you to understand the Indian market dynamics and the various regulatory pre-requisites. This will help you to take an informed decision while establishing your company in India. We also help identify and evaluate potential locations across the destination country where you can set up your company.

 

Merger and Acquisition: If you want to foray into the Indian markets through the M&A route, we can support you to find genuine acquisition or alliance targets. Our customer-driven approach includes targeted screening that can gauge the investment potential of a target company. We also devote our time in arriving at the value of a company through trading and transaction comparable.

 

Due Diligence: We provide a thorough and fact-based analysis of the potential target’s critical issues so you can take a sound decision. Our pre-deal due diligence includes financial, operational as well as taxation aspects of a prospective business deal. We leverage our extensive knowledge of the Indian market to offer you feasible solutions on different pricing structures and market strategies.

 

Corporate Restructuring: Restructuring through amalgamations can allow international companies to jump into the Indian markets almost overnight. We can help our clients identify sources of value creation in a corporate restructuring event. Our team can comprehend the challenges involved in such a deal and provide practical resolutions for the same.

 

Secretarial Services: After your company has been set up, we can look after your regulatory compliances like ROC and RBI compliances and Annual Filings. Our systematic and structured work processes will ensure that you stay legally updated and don’t default on any governmental compliances. We can also assist you with event-based compliances like alterations in AoA / MoA or change of registered office.

 

Registration Services: A company is required to obtain multiple approvals and registrations as soon as the land allotment is complete. We can provide support in getting all the necessary approvals and permits from the governmental agencies so your business can begin smoothly. We provide end-to-end support in getting the preliminary registrations under various laws like Income Tax, GST, etc. We aim to reduce the gap between land acquisition and the start of commercial activities for your company.

 

Accounting and Payroll Services: A lot of resources get tied to the manpower in handling routine and administrative tasks like accounting and payroll services. We can cater to these administrative needs as part of our single window package offering a wide gamut of services. This would not only ensure better management of back-office functions but also provide you with accurate results.

 

Taxation Services: As part of our ongoing services, all your taxation compliances can be taken care of by us. Indian Taxation system can get quite complicated with a plethora of rules, regulations and constant amendments. We can keep a track of all the tax benefits and incentives that apply to your company. Our specialised team possesses high-level knowledge and expertise on various tax treaties and regulations under DTAA, Transfer pricing, etc. We can customise tax strategies specific to your business needs.

 

3) IMC’s Credentials

Registration Services

  • Executed multiple registrations for companies including international companies in different areas of work
  • Presently executing pre-construction and post-construction registrations, and governmental approvals for an African company in Mumbai.

 

Due Diligence

  • Dubai manufacturer company
  • Singapore-based automobile company
  • A US-based Digital and Social Media Marketing services provider

 

Market Research and Entry

  • Realigned a brand portfolio of a company based in Qatar
  • Assisted a Singapore company with a new product offering with resounding success
  • Multiple land acquisition projects executed across India for several international companies

 

Administrative Services

  • Provided accounting services to a UK-based manufacturer company looking to expand in India
  • We helped an electronic distributor company to manage its payroll services across its multiple branches

4) IMC’s Case Study

Assignment:Efficient Manufacturing Set Up in India for a company headquartered in Kenya.

 

Engagement:Our client was seeking an entry into Indian markets to expand its pharmaceutical business. It was engaged in the manufacturing and marketing of branded pharmaceutical products. The client required our services right from the market research and due diligence to helping out with the implementation of their overall India entry strategy. The requirements of the client were discussed in detail to form an in-depth understanding of their goals and objectives.

 

Preliminary Mandate

  • Location Planning, Land Acquisition and Market Research
  • Business Set-Up Services, Registration and Other Secretarial Services

 

Challenges Faced

  • The client had no prior operational experience in the Indian market.
  • The language barrier made it difficult to liaise with multiple vendors for different services.
  • The client had difficulties in getting various approvals and permissions for the project because of the absence of a reliable local partner.

 

Solution Delivered

IMC Group worked as the Indian project partner to create a strong foothold for the company in the Indian market by delivering the following services:

  • Preliminary Business Set-up Services:Our team worked in close coordination with our client to provide a detailed framework and business plan. We evaluated potential locations across the country to set up the manufacturing units of the client based on multiple parameters. We then assisted in getting all the necessary approvals after the land allotment for a smooth start of the business.
  • Project Support Management:We reviewed all the contracts the client entered into with various vendors to give them our professional feedback. During the course of the project, we also supported the client in dealing with contractors for releasing the monetary funds, and other cost and time overruns.
  • Advisory and Other Ongoing Services:IMC Group also provided critical advisory services in relation to tax compliances and implications on the business of the client. We chalked out a detailed plan listing out all the tax incentives the client could avail. Our efficient team also took care of inter-company transfer pricing set-up. Our services also included preliminary registrations under various Indian laws for the client like Income Tax and GST.

5) India Entry Services by IMC

IMC Group provides a complete solution to help such foreign companies expand their businesses in India. We provide business development opportunities that can assist the companies to build their business from scratch. Not only will this help the company in gaining a competitive edge but also maximize its profits in a minimum time period. Once your business is set up we can also look after your post entry services. These include registration services in India, accounting and payroll, taxation, secretarial services and much more.

 

We are an independent India Entry consulting firm that has helped many strong brands in the past to enter and establish their businesses in India. We can cater to all your needs right from the conceptualisation of the plan to the post entry services with our cost-effective single window packages. We prefer to get engaged with our clients from an early stage so we can start on a solid footing. We then apply our understanding of the local regulations, forex policies and other tax treaties to develop an entry strategy.

 

IMC Group’s Established Ecosystem

  • Long-term relationships with leading law and taxation firms.
  • A reliable team of qualified professionals.
  • Strong connections with banks, industry experts and other service providers.
  • A strong network of specialised professionals in sectors like engineering and construction.
  • Expertise in handling governmental communications on behalf of the clients.

 

Advantages of Hiring IMC Group

  • Our strong sense of identification with the projects of our clients helps us in providing innovative solutions tailor-made to their business needs.
  • Our decades of experience has provided us with the expertise across a number of sectors as well as the protocols to be followed.
  • We provide a wide range of services under a single umbrella. So, our clients don’t have to take the stress of managing multiple service providers.
  • We understand the work culture differences of our international clients and constantly strive to keep everyone on the same page.
  • Multiple team members handle diverse aspects of the project under a single point of contact. Thus, we can expedite the process of business set-ups.
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