Doing Business In India - A Guide To Business, Tax, And Regulatory Environment

• Published date: 05 August 2021
• Subject Matter: Corporate/Commercial Law, Government, Public Sector, Tax, Inward/ Foreign Investment, Corporate and Company Law, Sales Taxes: VAT, GST
• Law Firm: Nexdigm Private Limited
• Author: Nexdigm Private Limited and Manoj Gidwani

The post-pandemic era will define how we conduct business and inherently shape our economy. With nations battling the largest healthcare crisis of recent times, the global economy has suffered. The suspension of global trade highlighted the gaps in the supply chain, and the need to diversify sourcing and production. Despite the challenging time, India appears as an optimistic hotspot for investment.

The Indian Government has relaxed certain reforms to enable higher Foreign Direct Investment (FDI) in varied sectors and digitally optimized the business environment for ease of doing business. After the successful introduction, establishment and subsequent amendments of Goods and Services Tax (GST), indirect taxes have now been streamlined to bring in greater transparency and simplification. The country continues to follow the initiative of 'Make in India' and 'Aatmanirbhar Bharat', a self-reliant blueprint that encourages consumption of home-grown brands (Indian or foreign).

India has also witnessed sustained growth over the past few years. The United Nations Conference on Trade and Development (UNCTAD) reported that India was among the top 10 recipients of FDI in 2019, attracting USD 49 billion in inflows, a 16% increase...