On Tuesday, ICICI Bank launched an online portal named ‘Infinite India’ for foreign companies. This will allow them to set up or extend their business in India. “The platform, ‘Infinite India,’ offers banking solutions as well as value-added services. ” said the bank in a statement.
It eliminates the need to communicate with several contact points, contributing to a trouble-free market existence in India. Commenting on the launch, Ms. Vishakha Mulye, Executive Director, ICICI Bank said, “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 have boosted India’s economic outlook significantly. ICICI Bank, with the online platform Infinite India, is offering a lot of key value-added banking services.
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The key ‘value-added’ offered by ICICI Bank Infinite India platform
- Incorporation services: Specifically curated for the set-up process, it provides guidance on legislation and laws to incorporate companies in India as a joint venture.
- Licenses and registrations: International companies can apply for and obtain licenses and approvals in a timely manner on import/export codes, FSSAI licenses, trade licenses, copyright solutions, and patent registrations.
- Taxation and enforcement: Foreign companies can have access to a variety of tax and compliance-related resources, such as annual company reports, GST registration, income tax returns as well as corporate filings with the Ministry of Corporate Affairs (MCA) for registered office and amendment to the Association Memorandum.
- HR Services: Assistance in the execution of similar HR services, including payroll management, fund registration and return filing, is also available.
Multinationals industries like IT, ITES services, engineering, pharmaceuticals, automobile, textiles, among others will visit the Infinite India portal. They will also apply for the necessary service, said ICICI Bank.
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