India’s burgeoning market undoubtedly presents a plethora of opportunities for international and domestic businesses alike. As the economy continues to grow it becomes ever more attractive to entrepreneurs globally. The country’s commitment to fostering an open and competitive business environment is clearly reflected in its comprehensive reforms. Key legislation such as the Arbitration and Conciliation Act, 1996 and the Bankruptcy and Insolvency Code, 2016 provide a reliable framework for conflict resolution and financial security thus reinforcing the nation’s appeal as a business hub.
The Indian government’s consistent efforts to improve the ease of doing business coupled with initiatives to simplify regulatory hurdles, significantly enhance the nation’s commercial attractiveness. With a streamlined tax system through the introduction of Goods and Services Tax (GST), the process of setting up and operating a business in India has become more seamless. However, entrepreneurs are advised to seek local legal counsel to fully understand and navigate the nuances of the Indian business environment.