Are you a foreign company looking to set-up or expand its businesses in India? You must know this important development coming from the stable of India’s second largest private sector bank – – ICICI Bank. ICICI Bank on Tuesday announced the launch of an online platform for foreign companies that are looking for various banking solutions and value-added services.
The ICICI Bank has announced this feature on its official twitter handle.
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The name of this platform is ‘Infinite India’ which is offering banking solutions as well as value-added services including incorporation of a business entity, corporate filings, licences and registrations, HR services, compliances and taxation among others, the lender claims.
The private sector also said that it is an industry-first initiative that offers significant convenience to foreign companies, as it eliminates the need of coordinating with multiple touchpoints leading to a hassle-free experience of doing business in India.
See Tweet Here:
#ICICIBank presents ‘Infinite India’, a first-of-its-kind platform for foreign entities looking to set up or expand business in India. It offers a unique & comprehensive suite of banking & value-added services for MNCs. Watch to know more. #ICICIBankInfiniteIndia pic.twitter.com/12Ky3yZRMb
— ICICI Bank (@ICICIBank) December 22, 2020
As part of bank’s technology-enabled-services, Infinite India is aimed at strengthening the position of the lender in the multinational corporation (MNC) segment, an important area, it said, adding ICICI Bank will continue to build strong relationships with MNCs in India.
“Over the years, India has emerged as a preferred destination for foreign investment. We believe that a young demographic profile, strong consumer demand and supportive government initiatives has boosted India’s economic outlook significantly,” Vishakha Mulye, Executive Director, ICICI Bank said and PTI quoted.
Also, India’s position in the World Bank’s survey on ‘ease of doing business’ improved significantly over the past few years, attracting foreign companies to set up operations here, she said.
Among the key value-added services under this, it will offer incorporation services at set up stage such as laws as regulations advisory, liaison office, branch office, project office or Limited Liability Partnership (LLP) advisory.
It will also offer services on licences and registration, taxation and compliance and human resources assistance.
Multinational from industries including IT, ITES services, manufacturing, pharmaceuticals, automotive, textiles among others can visit the Infinite India portal and apply for the required service, ICICI Bank said.