India is one of the most important emerging markets in the world. It is famously one of the BRIC economies with a population of over 1.3 billion people, with the largest democracy on Earth.
India is a key part of the global economy providing a huge, low-cost and increasingly skilled workforce. Many US tech companies are highly reliant on Indian labor.
India is growing in importance as a sales market and it is becoming easier to do business there. The country has recently introduced major reforms which are digitizing the economy and reducing corruption.
What you should know before you go
Why setup a business in India?
It is becoming increasingly difficult to recruit skilled Indian workers to work in the U.S. Tighter immigration controls this year have effectively made it harder for US companies to obtain the H-1B visas normally used for Indian specialty workers.
You can secure access to Indian labor and get a presence in the Indian market by employing staff locally and setting up an Indian entity.
How Global Payroll and Consulting Services helps you succeed
Expanding into a new country like India can be extremely complicated. There are language and currency barriers making it difficult to begin operations. Utilizing a payroll and consulting services company ensures all of the payroll regulations and compliance are managed remotely from the U.S. From devising solutions to implementation, it is much more cost-effective to outsource some of these functions than securing visas, and having a partner who knows the local laws, regulations, and language is vital to success in a new country.