India
Financing a Business in India
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Financing a Business in India
One needs money to make money. A strong business plan for India is necessary and you will need a lot of patience and boldness. Finance is often available for start-up operations, however a successful research may take a long while. Obviously your contacts (or your accountants ones) and your bank in UK are the first options, but you may want to consider resources available in India.
Speaking about India, the reputation of the country about financing business from abroad is very strong. Since the privatisation process started in 1991, the Indian financial institutions recognise the importance of attracting capitals and business ideas. Therefore, a major advantage for foreign investors setting up in India is that they can enjoy funding to cover a substantial part of the project cost from local resources.
Larger projects are generally financed by national level financial institutions like IDBI (www.idbi.com), ICICI (www.icicibank.com) and IFCI (www.ifciltd.com). Foreign investor involved in smaller project should approach instead the state level financial institutions, namely, state financial corporations (SFCs) and state industrial development corporations (SIDCs).
SFCs and SIDCs can be found searching the website of the Council Of State Industrial Development and Investment Corporations Of India (www.cosidici.com), which act as a catalyst for rendering assistance/guidance through its network of 56 different corporations in charge of providing financial assistance which may be suitable for you.
The above institutions provide various facilities including long term rupee and foreign currency loans, underwriting support for public issues and equity support. Other long term financing facilities deferred payment guarantees, leasing, hire purchase and venture capital.
According to UK Trade and Investment, the UK government agency in charge of supporting business abroad, finance is also available through Unit Trust of India and Public sector insurance companies. The Indian capital market has become an important option for financing projects. Of late the debt instruments and private placement route has been gaining popularity.
Working capital facilities are normally provided by the commercial banks, while the non banking finance companies increasingly involve themselves in areas like leasing, hire purchase and bills discounting.
Useful contacts you may want to have a look at to find out more:
Confederation of Indian Industry (CII) www.cii.in
Associated Chambers of Commerce and Industry of India www.assocham.org Federation of Indian Chambers of Commerce and Industry www.ficci.com
PHD Chamber of Commerce & Industry www.phdcci.in
High Commission of India http://hcilondon.in/
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