In the mind of the West, India does some unusual things. Everyone has things to say about it. It is one of those “got-to-visit” places where students as well as bohemians go to become transformed, enlightened, and reborn. They will tell you about countless recommendations, itineraries, show you photographs, tell you the tales and you would be forgiven if you think you have already seen the crippling poverty, awe-inspiring temples and culinary reality from its street vendors. You will have done almost everything there is to do in India except visit it.
Present and future
But, the one thing that does not get reported back with the same gusto is the other, less-known side to this country. Not its history and heritage, but the new laws for its present and its future.
Any businesses foreign or domestic must go through a process of registration that involves various regulatory and tax laws that are advantages for these companies. These are laws that mandate that each company that is new must go through Company registration and foreign company registration. This involves a lot of paperwork but by law must be completed before a company can operate in India. And businesses are starting faster than the paperwork can be filled out. A lot of this is that India is the home of a lot of internet businesses.
Economy will be 3rd by 2050
The economy of India has been reincarnated – risen to a higher level of evolution and existence – and that is an understatement. Its status is as one of the fastest growing economies helped by a fast-growing consumer class. And the consumer classes make the material world go around. The wheel of virtue of Hindu has turned in India’s favour and if we are talking business cycles, India is projected to be the 3rdbiggest economy in the world by the year 2050 which is quite the karmic turnaround.
However, they are not distorted enough to affect its business, market, commerce, and most significantly, foreign investment. The fact is that when it comes to direct investment, India is one of the largest recipients, with a huge four billion each year. The laws on tariff rates are down, laws on trade barriers have lifted, and restrictions on imports have stopped. Yet, India’s foreign investment potential remains strangely unfulfilled.