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Doing Business in India Indian Business Environment

~ Pr atik Gandhi

Businessman/woman o r an Ent r ep r eneu r

It is a person who habitually creates and innovates to build something of recognized value around perceived (aware) opportunities. This is whatdrives human lives to change for the better because entrepreneurs put their theoretical innovations into practice. Successful new products are usually

associated with `idea-centric (Full of ideas) creativityThe action and result of imagination and ingenuity (cleverness or power of creative imagination)Creativity is not ability to create out of nothing but the ability to generatenew ideas by combining, changing, or reapplying existing ideas.

Abst r act

In the report, it will be exhibited that Doing Business in India is prevalent or non-prevalent and how the structure of the pyramid goes in establishing aCompany/Business of your own as an Entrepreneur. The major opportunities provided by the government and its real outcome and theconclusions over it.

Doing Business in India The Pr ocedu r e

1. Obtain director identification number (DIN) on-line2. Obtain digital signature certificate on-line3. Reserve the company name with the Registrar of Companies (ROC) on-line4. Stamp the company documents either at theSuperintendent or an authorized bank5. Present the required documents along with the

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Registration fee to the Registrar of Companies to get theCertificate of incorporation6. Make a seal7. Visit an authorized franchise or agent appointed byNational Securities Depository Services Limited(NSDL) or Unit Trust of India (UTI) InvestorsServices Ltd to obtain a Permanent Account Number (PAN)8. Obtain a tax account bumber for income taxesDeducted at source from the Assessing Office in theMumbai Income Tax Department9. Register with Office of Inspector, Mumbai Shops andEstablishment Act10. Register for VAT before the Sales Tax Officer of the

Ward in which the company is located11. Register for profession tax12. Register with Employees' Provident Fund Organization13. Register for medical insurance (ESIC)

India: the second fastest growing market in Asia

The Indian market with its one billion plus population, presents lucrativeand diverse opportunities for U.S. exporters with the right products,

services, and commitment. Indias requirements for equipments andservices for major sectors such as energy, environmental, healthcare, high-tech, infrastructure, transportation, and defense will exceed tens of billionsof dollars in the mid-term as the Indian economy further globalizes andexpands. India's GDP in 2008 was the 12th largest in the world, andfourth-largest in purchasing-power parity terms. India is estimated to havethe worlds second-fastest growing major economy in 2009, behind China.GDP growth exceeded 9 percent every year during 2005-2007, andexceeded 7 percent in 2008 and 6 percent in 2009. Indias Finance Ministryforecasts GDP growth of over 8 percent in the April 2010-March 2011 fiscalyear and 9 percent in the following fiscal year.

Ov e r v iew/Analysis

In the past decade, India has emerged as a rising star in theinternational business community. Whether you are interested in import or export, India is a place of almost unlimited possibilities. A booming middle

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class and a tech-savvy work force make India an appealing market for doing business.

Recent trade laws in India have been revised to allow greater investmentand trade with foreign companies and other nations. As a result, an affluentmiddle class is growing in India, as is a burgeoning demand for foreigngoods traded on opened markets. Furthermore, as Indians come to residein other countries, especially the United States, Canada, and the UnitedKingdom, strong international financial alliances are being formed. India'simmensity promises a challenge to the imagination and a boon to thebusinessperson. There are gaps in the infrastructure and culturaldifferences to navigate, but international business professionals believe thebenefits outweigh the challenges

Conclusion/Recommendation

It is high time that the government realizes that one doesnt become asuperpower by just having 8+% growth rates and by being a market for others, especially in strategic areas. O wne r ship of of key assets intellectual p r ope r ty, ma r kets, financial and socio-cultu r al anddeployment of those assets a r ound the wo r ld is c r ucial. Else, theres areal danger that India will remain not just an aspiring superpower but also aperspiring one as it struggles anxiously to make it.

One of measures from the Government of India is that they have started -Entrepreneurship Development Institute of India (EDIP)

The Entrepreneurship Development Institute of India (EDI), an autonomousbody and not-for-profit institution, set up in 1983, is sponsored by apexfinancial institutions, namely the IDBI Bank Ltd, IFCI Ltd. ICICI Ltd and

State Bank of India (SBI). The Institute is registered under the SocietiesRegistration Act 1860 and the Public Trust Act 1950. The Government of Gujarat pledged twenty-three acres of land on which stands the majesticand sprawling EDI campus.