NEWS

Business in India is easy as INC-29:

Effective May 1st 2015 India has taken another step in the right direction for setting up a business. Gone are the days of filling out 8 different forms to incorporate a new business in India. With the new form INC-29 it is possible to undertake the main stages requires to set up a business.

Towards the end of last year the World Bank issued its ‘Doing Business’ report which is where it assess countries across the world on a number of elements including how long it can take to register to set up a business. Last year’s rankings showed India had dropped a further two points from the previous year and was languishing at 142 out of 189.

These changes clearly demonstrate the mood of India to eliminate some of the long-winded and tedious reams of paperwork which are often required to undertake anything associated with a business. The government has acknowledged the fact that many other countries in the world make it easy for new businesses to come in and have benefited from the investment and job creation, and we needed to do the same. The introduction of a single form to start a business should make a huge difference to companies considering a move to India.