An Introduction to Doing Business in India 2024
Published: December 2023An Introduction to Doing Business in India 2024 highlights the country's robust economic growth, with a projected third-largest global economy status by 2030. Despite global challenges, India's stable political environment and business-friendly policies have propelled its economy. Key industries received a boost in 2023 through initiatives like the PLI schemes and state-wise industrial policies, which lay the foundation for the country's ambition to become an integral part of global value chains. This publication, compiled by the experts at Dezan Shira & Associates, covers essential aspects of investing in India, including corporate establishment, investment climate, tax, audit, accounting, human resources, payroll, and the trade environment.
Welcome to the 2024 edition of our Introduction to Doing Business in India guide.
As India’s economic prowess captures global attention and the country is poised to become the world’s third largest economy by 2030, this guide will assist businesses seeking to navigate this vibrant market.
India’s GDP growth is predicted to reach 6.5 percent in 2024-25 and hit 7 percent in 2026. Amid another year of global turmoil underpinned by war and conflict and uneven post-pandemic recovery, India’s economy has stood out as a bright spot. Anchored by political stability and a continued focus on business facilitation, 2023 saw key industries getting a boost through PLI schemes and competitive state-wise industrial policies.
The G20 Summit was also successfully hosted in the country and presented the Indian market as a forward-looking base that can serve as a key point in global supply chains. The semiconductor industry and green sector are two areas where India has engaged with key global partners for support in terms of investments and technology transfer. As these evolve, they will support India’s sustainable development targets and moving up the industrial value chain.
Designed to introduce the fundamentals of investing in India, this publication is compiled by the experts at Dezan Shira & Associates, a specialist practice providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence, and financial review services to multinationals investing in emerging Asia.
Doing Business in India 2024 covers the following:
- Corporate establishment
- India’s investment climate
- Tax, audit, and accounting
- Human resources and payroll
- Trade environment