In the era of globalization, the world has witnessed rapid economic growth, massive industrialization, technological advancements, global mergers & acquisitions, international collaborations, and more, leading to ever increasing cross-border trade & commerce and high volume of foreign direct investments. Despite all these positive factors for the international business, there can be significant roadblocks for businesses when entering a new market primarily owing to factors like red tape, cultural and language barriers, complex taxation, legal/regulatory challenges of the land, labour issues, challenges related to IPR protection.
Such challenges, if not diffused timely, could pose serious risk to the businesses in the nascent stage itself. Here comes the role of an experienced and committed market entry consultant who could preempt the inherent or impending challenges and work on a plan in advance to mitigate such risks. CORPELSERVE is one such Market Entry Company in India that can assure the India-bound overseas investors that their businesses are legally well placed and sound and investments are safe.
Established in the year 2009 by two visionary legal professionals, Sunil Singh & Pankaj Hasija, as the Market Entry arm of LAW FORTE (a well-known corporate law firm in India founded by the duo), CORPELSERVE is a leading Market Entry Consulting Company in India that specializes in facilitating overseas companies to enter into the Indian market and establish their businesses with utmost ease.
The duo combined all their expertise and experience to take the Market Entry business of the firm to new heights and then hived off CORPELSERVE from LAW FORTE to CORPELSERVE India Pvt. Ltd. to create a dedicated and one-stop market entry platform as it is today. With PAN-India operational presence and solid in-house bandwidth, CORPELSERVE offers a ‘one-stop solution’ to India Market Entry and provides 360-degree business support services that cater to all crucial phases of doing business in India.
As a full-service Market Entry company, CORPELSERVE has developed remarkable in-house bandwidth to offers a wide range of services categorised into three phases which beautifully characterise and encapsulate the entire lifecycle of a business. The first is LOOK-UP - the pre-entry phase under which CORPELSERVE offers ‘Market Research, Feasibility Study, and Business Partner Search services to help overseas companies, with credible market intelligence and other relevant information, to explore the market potential in India and understand the business environment & regulatory framework before they decide on India as their next business destination.
Then comes SET-UP - the entry phase under which CORPELSERVE offers Business Setup & Licensing Support to help overseas companies register their subsidiaries in India or collaborate with Indian partners; obtain relevant business licenses, industry-specific regulatory licenses/approvals and complete other necessary formalities related to business setup in India. And finally, SCALEUP- the post-setup phase under which CORPELSERVE offers Ongoing Advisory, Representation, & Compliance Support to enable clients to focus on their business and expand in the Indian market, while CORPELSERVE manages and takes care of all support functions and compliances of their Indian entities including Accounting, Payroll, Taxation, Legal, Secretarial, HR, Statutory Compliances.
Asia Business Outlook Magazine team interviewed the Co-Founders of CORPELSERVE to understand more about CORPELSERVE and its positioning in the Market Entry domain. The interview threw a great amount of light on Doing Business in India and its journey as a Market Entry Consulting Company. Here are the excerpts from the interview.
How different is the India Story now and how would you describe the attractions of India as a place to establish a business?
India has emerged as a major economic power on the global stage and this has not happened just by chance. Rather, India has evolved as one of the fastest-growing economies in the world due to its progressive policies and sustained reforms undertaken by successive governments. There are many irresistible attractions that make India one of the most preferred destinations to establish business, and that includes: Massive market it has for any business; Fastest growing economy; Vibrant & largest democracy; Young demography (with around 50 percent of 1.42 billion population below the age of 25 years);
Access to large working and aspirational population; Large geography (36 states and union territories rich with natural resources); Brilliant minds & a skilled workforce; Largest Englishspeaking population in the world; Rapidly improving infrastructure; and many more.
How easy is it for an overseas company to do business in India? Do tell us how CORPELSERVE helps overseas companies establish a business in India and fulfils their full-scale support service requirements in here.
Well, there was a time when doing business in India was an uphill task but that’s not the case anymore. With a greater focus on ‘Ease of Doing Business in India’, successive governments have worked tirelessly over the years to improve the overall business environment in India. All these efforts have resulted in a pro-investment setting evidenced by Liberalized FDI Policy; Rationalized & lower tax structure; Liberalized and predictable regulatory framework; Leaner licensing regime; Simplified & balanced employment laws; Encouraging Production Lined Schemes (PLI); and more.
As an experienced player in the field of international business advisory, we understand the requirements and cultural ethos of overseas clients coming from diverse backgrounds. We advise clients with simplified solutions to their complex business needs/challenges and provide them with solid hand-holding and on-the-ground assistance, both crucial for a smooth, successful and sustainable business journey in India.
Our clients find CORPELSERVE as a long-term and dependable partner and a one-stop-shop capable of providing all that they need. Our services range from Pre-entry Market Research & Feasibility Study, Business Partner Search to Company Incorporation & Business Setup, Company Acquisition, Business & Regulatory Licensing, Transfer Pricing Setup to Accounting, Taxation, Payroll, Legal Support, Secretarial Services, Statutory Compliance Management, Contract Management, HR, Recruitment, Compensation & Benefits Administration, Employment Law Compliances, Immigration Support, Employer of Record (EOR) Services, Liaising & Representation Services and much more.
India has been known for its complex licensing regime. How easy is the licensing in India now and what licences and approvals will an overseas company require to set up a business in India?
As I said before, India has transitioned into a much leaner licensing regime. Most of the registrations & licenses are available online. Though all of them can’t be discussed here, I would like to touch upon some high-level licensing requirements in India. Apart from incorporating a company, below registrations/licenses are normally required to be secured for doing business in India and that includes: Basic setup related mandatory registrations and licenses including PAN, TAN, GST, EPF, ESI, IEC; State Tax & Municipal Registrations; Employment Law Registrations; IPR Registrations & Licensing (Trademarks/Copyrights/Patents/ Industrial Designs); Industrial Licensing & Environmental Clearances depending on the nature of the industry; Industry-specific Regulatory Licenses depending on the sector and the regulatory authority.
What are the X factors that differentiate CORPELSERVE from other market entry advisory companies in India?
CORPELSERVE is well-placed to assist all types of overseas companies looking to enter into the Indian market. If we have to highlight the USPs, that differentiate CORPELSERVE from other market entry players in India, they would be its first its Strong Legal Base – CORPELSERVE is backed by a corporate law firm which gives much needed confidence to overseas clients looking to enter into a new jurisdiction like India. Second is its Ability to provide 360° Support services under One roof – As a consulting group, CORPELSERVE has the bandwidth, expertise and experience of providing 360° support services effectively, all of which are normally needed in India for an overseas client to focus on their business. Third is Hand-Holding Approach – CORPELSERVE is known for its pro-active support and dependable handholding to the local teams of overseas clients to help them navigate through different phases of their business. Last is the Open Service Architecture – CORPELSERVE’s open service architecture, which covers support on anything and everything even if not written, is liked and preferred by the overseas clients in India.
If you are an international organization and are looking to explore or step into the Indian market or you want to scale up your operations in India, CORPELSERVE could be your ideal partner given the wide range of services and experience we have in the market entry domain. Our promise is to make your market entry and onward business journey in India hassle-free and successful through our pragmatic advisory, guidance, and hand-holding support.
CORPELSERVE is known for its pro-active support & dependable hand-holding which it lends to local teams of overseas clients to help them navigate through different phases of their business
Who are your target clients? Do you focus on business opportunities from any specific country/region or sector?
Clients of any size or scale are most welcome. However, CORPELSERVE is preferred by medium, lower-medium, and small-sized international companies looking to enter the Indian market or have already established their business in India.
We embrace clients from all countries/regions and sectors without any inhibition. But yes, we do focus on certain business-friendly countries offering more business opportunities for CORPELSERVE. As market entry experts, we were quick to sense the magnitude of the ‘Make in India’ campaign championed by the Hon’ble Prime Minister, Narendra Modi, and started to focus on the India-bound foreign investments, particularly from the US, Canada, the UK, France, Germany, Israel, Australia, Japan, South Korea, Singapore, Mauritius, and the Netherlands.
How has been the company’s growth journey so far?
Well, to mention CORPELSERVE’s growth journey has been remarkable. Having mastered the art, science and law of the market entry business, it is our relevant expertise and experience in the India-bound market entry that has enabled us to provide high-quality though affordable services to our clients today.
Furthermore, there are many more things to come as we are building constantly on our capabilities to better serve the clients in the coming times.
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