ABOUT INDIA 

Amongst all the countries globally, India, officially the Republic of India, is a vast and diverse nation located in South Asia. It is the world’s most populous country and the largest democracy, known for its ancient civilization, rich cultural heritage, and remarkable economic transformation. India is rapidly emerging as a global economic powerhouse, a key player in international trade, and a leading nation in technology and innovation. The capital of India is New Delhi, which is the seat of the Union government. Mumbai is the largest city by population and the financial capital, playing a crucial role as a major economic driver. According to the World Bank, India is classified as a Lower-Middle Income Economy, with ambitious goals to achieve Upper-Middle Income status and become a developed nation in the coming decades.

The currency of India is the Indian Rupee (INR). As of today’s exchange rates (June 2025), 1 US Dollar is approximately 83.50 Indian Rupees, and 1 Euro is approximately 90.00 Indian Rupees. The population of India is estimated at approximately 1.44 billion in 2024, making it the world’s most populous nation. India shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east. It has extensive maritime borders, sharing sea boundaries with Sri Lanka and the Maldives to the southwest, and Indonesia and Thailand to the southeast. Its coastline extends along the Arabian Sea, the Bay of Bengal, and the Indian Ocean. The official languages of the Union are Hindi and English, alongside 22 other constitutionally recognized languages. English is widely used in business, education, government, and urban areas, making India one of the largest English-speaking nations. Hinduism is the dominant religion, coexisting with significant populations of Islam, Christianity, Sikhism, Buddhism, Jainism, and other faiths. India has numerous international airports, including Indira Gandhi International Airport (DEL) in Delhi, Chhatrapati Shivaji Maharaj International Airport (BOM) in Mumbai, Kempegowda International Airport (BLR) in Bengaluru, and Chennai International Airport (MAA), among many others. Its major commercial seaports include Jawaharlal Nehru Port (Nhava Sheva), Mundra Port, Chennai Port, Kolkata Port (including Haldia), Kandla Port, Visakhapatnam Port, and Paradip Port, all vital for facilitating its extensive international trade.

The standard corporate income tax rate in India is 30% for domestic companies, with concessional rates available. For instance, domestic companies with a total turnover or gross receipts not exceeding INR 400 crore in the immediately preceding financial year are taxed at 25%. Additionally, new manufacturing companies incorporated on or after October 1, 2019, that commence manufacturing by March 31, 2024, can opt for a lower corporate tax rate of 15% (effective rate 17.16% including surcharge and cess), provided they do not avail any other incentives. India offers a robust framework of investment incentives to promote various sectors. Key incentives include the Production Linked Incentive (PLI) schemes across 14 key sectors (e.g., electronics, automotive, pharmaceuticals, textiles) to boost domestic manufacturing and exports, benefits for Special Economic Zones (SEZs), and sector-specific policies for renewable energy, infrastructure, and IT. Gujarat International Finance Tec-City (GIFT City) offers a competitive tax regime and regulatory framework for financial and IT services. Opesh Group of companies will be helping you in completing the Due Diligence process which includes financial planning, registration process, business options, and if required, even helping you find a Rental property for your office.

Establishing a business in India has become significantly easier and more attractive due to continuous government reforms focused on improving the ease of doing business, liberalizing foreign direct investment (FDI) policies, and enhancing the overall investment climate. The “Invest India” agency acts as the national investment promotion and facilitation agency, providing comprehensive support to investors. The Department for Promotion of Industry and Internal Trade (DPIIT) is central to policy formulation. For both domestic and foreign investors, common business structures include Private Limited Companies (Pvt. Ltd.), Public Limited Companies (Ltd.), Limited Liability Partnerships (LLPs), and Branch Offices or Representative Offices of foreign companies. India permits 100% FDI under the automatic route in most sectors, eliminating the need for prior government approval, making it one of the most open economies globally for foreign investment.

In case an investor is planning to establish a Private Limited Company or a corporate business setup in India, Opesh Group will be helping you in taking the right decision for setting up your business in India and we will also guide you about how to follow the procedure while formulating your company in India.

Types of Business which can be started in India:

• Manufacturing: With initiatives like “Make in India” and PLI schemes, opportunities abound in electronics, automotive (electric vehicles), pharmaceuticals, textiles, food processing, chemicals, and defense manufacturing.
• Infrastructure Development: Massive government spending and private sector participation in roads, railways (high-speed rail), metro systems, ports, airports, smart cities, and logistics infrastructure.
• Digital Economy & IT/ITES: India’s vibrant tech ecosystem offers opportunities in software development, IT services, BPO, FinTech, EdTech, AgriTech, AI, and cybersecurity.
• Renewable Energy: Ambitious targets for clean energy capacity (solar, wind, green hydrogen) create significant investment opportunities.
• Healthcare: Growing demand for hospitals, medical devices, diagnostics, and health insurance.
• Financial Services: Expansion in banking, insurance, asset management, and the emerging FinTech sector.
• Agriculture & Food Processing: Modernizing agriculture, cold chain logistics, and value-added processing for domestic and export markets.

Advantages of Starting Business in India:

• Large and Growing Domestic Market: Over 1.4 billion people with increasing purchasing power.
• Strong Economic Growth: One of the fastest-growing major economies globally.
• Demographic Dividend: A young and skilled workforce.
• Robust Digital Public Infrastructure: Aadhaar, UPI, and other platforms enable rapid digital transformation.
• Favorable Investment Policies: Liberalized FDI regime, investment incentives, and ease of doing business reforms.
• Strategic Location: Gateway to South Asia, Southeast Asia, and the Middle East.
• Diversified Economy: Strengths across services, manufacturing, and agriculture.

Imports & Exports: India has a highly diversified trade portfolio, rapidly expanding its global footprint.

Major items which are exported from India:

• Petroleum Products (refined fuels)
• Pearls, Precious, Semi-Precious Stones, and Jewellery
• Drug Formulations & Biologicals (Pharmaceuticals)
• Electronic Goods
• Machinery and Mechanical Appliances
• Automotive Products
• Iron and Steel
• Textiles and Apparel
• Agricultural Products (e.g., rice, spices, marine products)

Major items which are imported in India:

• Crude Petroleum
• Gold
• Electronic Goods
• Pearls, Precious, Semi-Precious Stones
• Coal, Coke & Briquettes
• Machinery and Mechanical Appliances
• Organic Chemicals
• Plastic Material

Major Trade Partners & Blocs: India’s largest trade partners include the USA, China, UAE, Saudi Arabia, Singapore, and European Union member states. Key trade blocs include ASEAN, SAARC, and its robust bilateral relationships.

Manufacturing: Manufacturing is a critical sector for India’s economic growth and job creation, bolstered by government initiatives like “Make in India” and the Production Linked Incentive (PLI) schemes. Key manufacturing industries include automotive (a global hub for two-wheelers and tractors, growing passenger vehicle production), electronics (smartphones, components), pharmaceuticals (world’s largest generic drug producer), textiles and apparel, chemicals, machinery, and food processing. India is rapidly enhancing its capabilities in high-tech manufacturing and defense production.

Mining: India is rich in mineral resources, and its mining sector is a significant contributor to the economy. It is a major producer of coal, iron ore, bauxite, chromite, copper, zinc, lead, and limestone. India is also a significant producer of mica and manganese. Efforts are underway to modernize mining operations, enhance exploration, and attract investment to boost domestic production and reduce import dependency for key minerals.

• GDP = $4.41 trillion (nominal, 2024 est. IMF)
• GDP Growth = 6.8% (2024 forecast), 6.5% (2025 forecast by IMF/World Bank)
• Ease of doing business rank = The World Bank’s ‘Doing Business’ report has been discontinued. In its last published report (2020), India ranked 63rd out of 190 economies, having made significant strides and being recognized among the top global improvers for three consecutive years (2017-2019) due to sustained reforms.
• GDP per Capita = $3,050 (nominal, 2024 est. IMF)

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