Prime Minister, Narendra Modi, wants to push through a comprehensive package of reforms. The two most important: the introduction of a land transaction tax and a single unified value-added-tax (Goods and Services Tax). Further measures needed include a reduction in bureaucracy, cuts in corporate taxation, investment in digitalization and in the dilapidated infrastructure of the country. Road networks, public transport systems, sewers, power supply grids and refuse disposal all are to be modernized.
There are several good reasons why a company should get involved in India’s emerging economy:
Modi’s plan offers the prospect of enormous potential for foreign investors.
The first projects in India were conducted by EAC in the late 1990s. Since 2005, EAC has had its own office in Mumbai, the country’s most important economic and financial hub.
EAC has supported leading MNC’s and SME’s in the development of their India strategies, in the search for potential acquisition targets and subsequent M&A implementation, as well as the formulation of location, distribution and personnel concepts and the realization of investment projects. Extensive industry-specific know-how and familiarity with the local ‘rules of the game’, experience in negotiating M&A transactions with Indian enterprises and with their particularities, as well as ongoing experience with Indian authorities in company set-up and implementation projects (greenfield and brownfield) are our core competencies. In addition, EAC has an excellent network in the Indian industry, from companies, industry associations and market experts to government authorities at the central, provincial and local level.
After Prime Minister Narendra Modi had called for backing for the ‘Make in India’ initiative at the Hanover Trade Fair in 2015, the Indian Embassy in Berlin launched a program specially developed for the German Mittelstand (SMEs) and family-owned companies. ‘Make in India Mittelstand’ (MIIM) is a business support program to assist companies both in entering and expanding their position on the Indian market.
EAC is now for the 5th year Knowledge Partner of the Indian Embassy in Berlin for the implementation of the program and is coordinating this effort in close cooperation with numerous program partners in Germany and India. The network of partners includes tax advisors and law firms, technology partners and banks, as well as several Indian Federal States. Companies which are accepted into the MIIM program receive an attractive service package and access to this extensive network of experts.
More information about MIIM under: http://www.makeinindiamittelstand.de