India has the distinction of being one of the fastest growing economies in the world. In the past two decades, liberalization has transformed India from being an inward looking state-based economy, into a globalized market-based economy, now identified as one of the most attractive investment locations globally. With Gross Domestic Product (GDP) growth rate of about 5.7% in the first quarter of 2014-15 and a sustained 7-8% average growth for the past decade, the Indian economy has shown itself to be robust and remarkably resilient during the global economic slowdown. The success of Indian economic reforms is evidenced by high GDP growth, high growth rate in manufacturing sector, comfortable foreign exchange reserves, improved short-term debt profile and buoyant exports.
The handbook seeks to enable readers to have an overview of the systems and legal rules and regulations that are essential for business operations in India. The publication was prepared by Amarchand Mangaldas on behalf of OIFC.
The OIFC was set up by the Ministry of Overseas Indian Affairs’ (MOIA) in 2007, in partnership with the Confederation of Indian Industry (CII), and provides facilitation services to the Overseas Indians, especially assisting them in deepening their economic and intellectual engagement with India.
The OIFC-Amarchand Mangaldas publication was released against the backdrop of the 24th OIFC Diaspora Engagement Meet India and the Diaspora: Partners in Growth held at London on 16 October, 2014.