The main attraction for anyone thinking of 'Starting a Company in India' can be attributed to – 'huge opportunity' that India Inc. offers. In the last 15 years India Inc. has posted huge growth in each and every Industry verticals. Stupendous double digit and even triple digit, growth has been registered in verticals like IT, Telecommunication, Pharmaceutical & Biotechnology, Retail, Finance, R&D, Infrastructure and Out-sourcing business.
Although, the environment is exactly right for making investment and reap huge profits but, w hile 'Starting a Company in India' deep inspection into the followings should be made -
• Type of company and its -
- Project Selection.
- Technology and Machinery.
- Unit Development.
- Registration.
- Approvals.
- Clearances.
- Quality Certification.
• Competitors and collaborators.
• Workforce availability.
• Infrastructural set-ups.
• Legal compliances.
• Finance.
• Subsidies offered by State and Central government.
Moreover, during 'Starting a Company in India' 'Project Selection' needs further classification of Product, Process and Place. Due regards should be given to agreements for technology transfer in case 'Technology and Machinery' is imported.
Alternatively, technology can sourced from CSIR, Defense Research Labs and host of other government and private labs. Further, indigenously developed technology can also be used. A thorough consideration should also be given to skill-sets of the workers ; requirements of water, power and other basic requirements; IPR issues; pollution or environmental regulations. 'Unit Development' with infrastructural supports and utility connections are satisfactory and consumer friendly. 'Registration', 'Approvals' and 'Clearances' are less bureaucratic, legally binding yet flexible. Regulatory compliances are important and necessary to avail benefits, incentives or support offered either by the Central or State Governments and also to be within the ambit of law of the land. 'Quality Certification' is extremely important in competitive markets and also for ' Starting a new Company in India' . Certification from ISO, SCMMI or Six Sigma can help reach global customers.
Opportunities are enormous and ever growing. Today India produces most numbers of Technical, Science and Business graduates. An energetic English speaking young workforce with high standard of work ethics and professionalism is an asset for the 'New Company in India' community. The 'Process of Starting a New Company in India' was never so easy. An investor friendly Government at the center, strong legal and administrative set-up, bullish financial market are ever growing consumerism, India is the ideal place to be in for long term business goal.
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