DOING BUSINESS IN INDIA – LEGAL ISSUES AND NUISANCES

Learn about advantages of doing business, opening incorporated and unincorporated entities, taxation system in India with Esplora Legal.

Esplora Legal is a full service international law firm advising clients across several jurisdictions to effectively meet their business goals and strategies. We are focused on providing our clients with acomprehensive and high-quality "one-stop service".

Our clients include reputed multinational companies, banks and financial institutions. We advise on virtually all legal matters, including issues in relation to corporate law,  mergers and acquisitions, energy law, employment law,  commercial disputes, intellectual property and real estate.

We  excel in providing unique solutions to our clients' problems and have a solid  reputation. Our international team has extensive knowledge and experience by virtue of which we are able to provide legal advice across differentpractice areas and geographies.

DOING BUSINESS IN INDIA

The Economy

• India retains world’s fastestgrowing economy rank, tying with China

• India ranks 63rd in the WorldBank’s ‘Ease of DoingBusinessrankings’

• India ranks 96th in ‘UnitedNations E-Government Index’

Key factors contributing to the growth

• Introduction of the unified indirect tax law system

• Reforms in the taxes on foreigninvestors

• Reforms in the Insolvency and Bankruptcy Code

• Liberalization in the legal framework for foreign investments

FOREIGN DIRECT INVESTMENT

Key Regulations

• ForeignExchange Management Act, 1999

• TISPRORegulations, 2017

• ConsolidatedFDI Policy, 2017

• IndianCompanies Act, 2013

Key Governing Bodies

• ReserveBank of India (RBI)

• Respective Government Ministry along with Department of Industrial Policy and Promotion (DIPP)

PROHIBITED SECTORS

• Atomic Energy

• Railway operations

• Gambling, lottery  and betting including casinos – Foreigntechnology collaboration in any form including licensing for franchise,trademark, brand name, management contract is also prohibited.

• Real estate business – “RealEstate Business” applies to dealing in land and immovable property with a viewto earning profit therefrom and shall not include development of townships,construction of residential/commercial premises, roads or bridges and REITS.

• Trading Transferable DevelopmentRights (TDRs)

• Manufacturing of cigars orcigarettes

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