Setting Up Business in India
India is not only the world’s largest democratic country but is also slowly emerging as a preferred location for the foreign companies to set up business. The procedure to do so is now relatively simpler. Apart from the registration process, setting up an office with all the facilities and recruiting locals is also solved because of the number of business service centers and job portals that are now available in India.
Business Centers can be used for
o Permanent Office
o Temporary Office
o Branch office as well as
o Virtual Office
A few popular business service centers in India are:
Regus – Apart from having many locations in Mumbai they also have business centers in Bangalore, Hyderabad, Chennai and Delhi. They also provide virtual offices in these cities.
New Bridge Office – Bangalore, Delhi, Mumbai
Avante – Serves Mumbai and Delhi and in other countries like London and Scotland.
ServeCorp – Serves Hyderabad and Mumbai and many cities all over the world.
Alliance Business Center, Spade Business Centre – Delhi
Golden Square, DBS Business Center – Bangalore, Mumbai
Parshav Business Centre – Mumbai
Apeejay Business Centers – Mumbai, Delhi, Chennai
The advantages of a business center are
o Plug and Play Offices
o Ranges from an office for a single person to independent office blocks
o Support like Receptionists, Office assistance etc
o Conference Rooms & Meeting Rooms
o Good Internet access
o Refreshments, Catering services etc.
A business center solves the problem of furnishing it with all facilities needed for the office especially for the start-ups.
The next important thing after the office space is recruiting. In India there are many popular job sites which solve this purpose. Web portals that are popular are timesjobs.com, naukri.com, monster.com, clickjobs.com and careerindia.com.
Apart from the above there are also few well know recruiting agencies that helps hire people. The popular ones being: ABC Consultants and Ma Foi.
For multinational corporations, India represents a significant opportunity. The pay scales here are not only less but the quality of work also often matches or exceeds other places. But, the costs of doing business in India is also rising, due to the supply – demand imbalance, particularly in IT, breeds higher salaries and decreased employee loyalty. For foreign companies who understand the local labor market and compensation and retention, India will remain an attractive market for expansion.