Employer Of Record in India

India Country Facts

India is a country with an impressive culture and heritage. It has something to offer everyone, and is known to have welcoming people from all across the world. India has a famous landmark, the Taj Maha, and rich food which is deliciously flavored, with ingredients and recipes which are unique in all of India’s states.

India is a large country in south Asia surrounded by the Indian Ocean with many topographical features such as the Ganges River valley and Himalayan Mountains.

The Economy

India is the world’s sixth-largest economy. Developing into an open-market economy, India is on a high growth trajectory. But the Indian economy is in an early recovery stage where consumer demand and industrial production is improving. To assist in full recovery, manufacturers can undertake capital expenditure to expand production.

The Importance of Small and Medium-sized Companies

Small and medium-sized enterprises play an important role in the Indian economy. They are a major source of entrepreneurial skills, innovation, and employment. In India and other countries around the globe, SME businesses are the largest contributor to the economy.

Population Characteristics

India lands in the second spot for most populated country in the world with nearly a fifth of the world’s population, which is approximately 1.4 billion people. It’s reported there are 125,344,736 English speakers in India, making India the country with the second largest number of English speakers.

Economic Opportunities

Beginning in the 1990s, India has deregulated several industries. It’s also privatized many state-owned enterprises, and opened doors to foreign direct investment. India is an attractive country for outsourcing and an inexpensive source of imports.

Key Sectors of the National Economy

The best key sectors in this country are:

• Fintech & Financial Services
• Biotechnology
• Auto Components
• Automobile
• Agriculture & Forestry

Human Talent
US companies profit from hiring an Indian workforce to work in the country, as they can save a lot of money without compromising on quality. Employers can also get that same work done at a fraction of the price they would have to pay a US employee with the same skills.

Prominent Cities for Business

• Bangalore
  Bangalore is a city that does well in software engineering and many consider it to be the Silicon Valley of India. This is the country’s top Information Technology (IT) exporter.
• Delhi
  The major commercial center in Northern India is Delhi. Here companies who work in IT, telecommunications, banking, media, hotels, and tourism will do well.
• Mumbai
  Every segment of the automobile sector (including two and three wheelers, passenger cars and commercial vehicles) is represented in the city. Many big automobile companies have corporate branches in Mumbai.

Technological Ecosystem

In India technology companies drive growth by creating jobs and increasing access to resources such as education and healthcare, which all results in less poverty and an improved quality of life.

India has already undergone a technological transformation. Its population has moved along an exponential technology curve from barely any connectivity in 2014 to being the second most connected nation in the world, with 560 million internet users, as of this year, surpassed only by China.

Facilities for Foreign Investment

India is an investment-friendly nation and has attracted the attention of leading multinational organizations, such as Amazon, Unilever, Samsung, Adidas, Toyota, Garnier, Panasonic, LG, Microsoft, IBM, Nestlé and Coca- Cola.

India is a large land of many opportunities. Availability of skilled labor and close geographical proximity to markets in southeast Asia and the Middle East,make it incredibly attractive for foreign investment.

Business Culture in India

• What a Bargain
  A layer of British formality is noticeable in India, which is a positive remnant of their history. However, Indians love to bargain, they consider it an enjoyable event.
• Know how to greet others properly.
  Indians are very formal upon the first meeting, and if one is elderly, they are respected and deferred to, especially in business. When Indian people bow to another it is a sign of respect for someone’s age or rank.
• Do not address Indians by their first names or without any higher academic titles.
  This is a sign of informality in the traditional Hindu culture and you may offend someone by doing it.
  Always use last names especially if you are meeting them for the first time.
• While eating, use a fork and spoon and NOT a knife.
  If you want to impress, use your hand to eat in the way that others around you are. But be sure your left hand is never used on the dining table while eating. Also, do not thank your host after the meal is over, that is frowned upon

India Gastronomy: regional and traditional cuisines

Indian cuisine is well known throughout the world as an experience of spices and diversity. They use more vegetables than many other known cuisines, making their food unique, but there are many local styles.

• Daal-baati-churma.
  This hearty and iconic dish consists of daal a lentil preparation, baked round baati, a type of bread, then crushed and fried in ghee.
• Xacutti
  Is a coconut-based curry, or if you like spicy curries vindaloo is for you, which is a fiery curry marinated with garlic and vinegar or wine.

More examples of their cuisine are, Thukpa a hearty noodle soup, momos which is steamed or fried stuffed dumplings, and gyakho, which is another stew. If you ever find yourself in Sikkim, it’s recommended you try tongba, a famous Himalayan millet beer.

General Highlights

What you need to know about employing personal in India:

Key Tax and Labor Authorities

Labor Contracts

Payroll

Employers Contribution or Labor Cost

Annual Taxable Income

Corporate Tax Rates

If you are a non-resident company, you are taxed on income that is received in India.