For policy makers trying to improve their economy’s regulatory environment for business, a good place to start is to find out how it compares with the regulatory environment in other economies.

India is set to emerge as the world’s fastest-growing major economy by 2015 ahead of China, as per the recent report by The World Bank. India’s Gross Domestic Product (GDP) is expected to grow at 7.5 per cent in FY 2015-16, as per the report. – See more at: http://www.ibef.org/economy/indian-economy-overview#sthash.0p3oIXgL.dpuf

Recent Trends in Indian Economy India has undergone a paradigm shift owing to its competitive stand in the world. The Indian economy is on a robust growth trajectory and boasts of a stable annual growth rate, rising foreign exchange reserves and booming capital markets among others.

With Make in India initiative completing one year today, industry chamber FICCI said the initiative has helped attract investments and improved business environment.

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in India.

 Here is a simplified new step by step process on how to start a Business in India. This guide will be immensely helpful for people just starting …

A wide variety of business entity alternatives are available in India

Starting a business in India requires one to choose a type of business entity. In India one can choose from five different types of legal entities to conduct business. These include Sole Proprietorship, Partnership Firm, Limited Liability Partnership, Private Limited Company and Public Limited Company. 

Business licenses are permits issued by government agencies that allow individuals or companies to conduct business within the government’s geographical jurisdiction. It is the authorization to start a business issued by the local government. The business activity determines most license requirements. Other determining factors may include the number of employees, location of business and the form of business ownership, such as sole proprietor or corporation.

In India, incorporation of a company is governed by the Companies Act 1956. It is the most important piece of legislation that empowers the Central Government to regulate the formation, financing, functioning and winding up of companies. 

Company whether Indian or foreign is liable to taxation, under the Income Tax Act,1961. Corporation tax is a tax which is levied on the incomes of registered companies and corporations.

The Personal Income Tax Rate in India stands at 33.99 percent. Personal Income Tax Rate in India averaged 30.73 percent from 2004 until 2014, reaching an all time high of 33.99 percent in 2013 and a record low of 30 percent in 2005. Personal Income Tax Rate in India is reported by the Ministry of Finance, Government of India.

The Corporate Tax Rate in India stands at 34.61 percent. Corporate Tax Rate in India averaged 35.02 percent from 1997 until 2015, reaching an all time high of 38.95 percent in 2001 and a record low of 32.44 percent in 2011. Corporate Tax Rate in India is reported by the Ministry of Finance, Government of India.

The Government of India Income Tax Department Website

The Sales Tax Rate (VAT) in India stands at 12.36 percent. Sales Tax Rate in India averaged 12.44 percent from 2006 until 2015, reaching an all time high of 12.50 percent in 2007 and a record low of 12.36 percent in 2012. Sales Tax Rate in India is reported by the Ministry of Finance, Government of India.

One of the important components of tax reforms initiated since liberalization is the introduction of Value Added Tax (VAT). VAT is a multi-point destination based system of taxation, with tax being levied on value addition at each stage of transaction in the production/ distribution chain.

See “Exit, Entry & Visa Requirements”

Overview. All foreign nationals entering India are required to possess a valid international travel document in the form of a national passport with a valid visa obtained from an Indian Mission or Post abroad.

See “Exit, Entry & Visa Requirements”

Non-nationals planning to work or conduct business in India need to apply for an appropriate visa before entering the country. 

India’s transport sector is large and diverse; it caters to the needs of 1.1 billion people. In 2007, the sector contributed about 5.5 percent to the nation’s GDP, with road transportation contributing the lion’s share.

Information on all forms of public transportation

An overview of the telecom industry from the India Department of Telecommunications

India’s telecommunication network is the second largest in the world based on the total number of telephone users (both fixed and mobile phone)

Government Labour Website

As an employer you are responsible for providing adequate social security coverage to all your workers. Background information on Social Security.

 India’s social security system is composed of a number of schemes and programs spread throughout a variety of laws and regulations.

India is a place of exotic food, beautiful architecture and Bollywood! But, it’s also a developing country with the world’s second largest labor force and an economy that is taking over many others, and becoming one of the best places for global companies to invest. One important observation – Indian Labour and Employment Law is among one of the most complex in the world, so while I know the outline that follows is a good start, it is always a great idea to consult a lawyer

Traditionally Indian governments at federal and state level have sought to ensure a high degree of protection for workers, but in practice, legislative rights only cover a minority of workers. 

Cost of living information includes price indices for rent, food, utilities, transportation, restaurants, clothing and more

In a sign that shows India has a lot of catching up to do, the country’s ranking in the Human Development Index (HDI) remained unchanged at 135 in 2013, reflecting little improvement in the living standard of its people, said a United Nations (UN) Development Programme report

The weather is mainly hot most of the year with significant variations from region to region. The coolest weather lasts from around the end of November to the beginning of March, with fresh mornings and evenings, and mostly sunny days.

Education in India is provided by the public sector as well as the private sector, with control and funding coming from three levels: central, state, and local. Under various articles of the Indian Constitution, free and compulsory education is provided as a fundamental right to children between the ages of 6 and 14.

According to the 2009 Right to Education Act, schooling is free and compulsory for all children from the ages of 6 to 14. However, improvements are slow being implemented and disadvantaged groups may still not have adequate access to education.

Schedule of gazetted and restricted holidays and observances

Public Holidays and Bank Holidays in India.

Demographic information includes population, quality of life, health, sports, technology, energy and the environment

The dos and don’ts of business etiquette in South Korea

US Department of State – Go to Safety and Security for updates from the South Korean government

India’s climate can be classified as a hot tropical country, except the northern states of Himachal Pradesh and Jammu & Kashmir in the north and Sikkim in the northeastern hills, which have a cooler, more continental influenced climate.

India Business – Ministry of External Affairs

This Ministry of Commerce & Industry site is a summary of trade agreements that have been concluded and those in progress.

In India, exports and imports are regulated by the Foreign Trade (Development and Regulation) Act, 1992, which replaced the Imports and Exports(Control) Act, 1947, and gave the Government of India enormous powers to control it. 

Expats can add finding accommodation in India to the already-extensive list of adventures they’re going to have when they move. Housing options vary greatly between areas, but expats moving to cities like Delhi, Mumbai and Bangalore can expect a smaller selection and more competition than in other locations.

There are 750,000 unsold apartments in seven cities alone, including those in Mumbai, the National Capital Region (NCR) and Bengaluru.

Expert picks for your India vacation, including hotels, restaurants, entertainment, shopping, top attractions, and more.

The Ministry of Tourism, is the nodal agency for the formulation of national policies and programmes and for the co-ordination of activities of various Central Government Agencies, State Governments/UTs and the Private Sector for the development and promotion of tourism in the country.