What Is The Current Legal Environment Of Business In India?
Basically India is an emerging economy and it promotes Foreign Direct Investments in the country. That’s why the legal system for businesses in India is very flexible. The implementation of the legal system starts right from your decision to start a business in India. You have to take an online Director Identification number and then you obtain an online Digital signature certificate. It is a legal requirement to register the name and nature of the business in Registrar of Companies or ROC. Then you have to stamp the company documents from a superintendent. Medical insurance is also required for all sorts of businesses. There is an employee provident organization, where registration of companies are carried out. It is a legal requirement for all of the businesses to register for profession tax. Although India encourage business opportunities over there but still the legal environment requires a lengthy process to start or carry on a business.
