Private lender ICICI Bank has launched an online platform for foreign companies who are looking forward to set-up business in India. Named ‘Infinite India’, the platform promises to offer the foreign companies with banking solutions as well as value-added services such as incorporation of a business entity, corporate filings, licences and registrations, HR services, compliances and taxation among others.
Accoording to the official communiqué, this is an industry-first initiativeand it offers significant convenience to foreign companies, as it eliminates the need of co-ordinating with multiple touchpoints leading to a hassle-free experience of doing business in India.
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 has boosted India’s economic outlook significantly. 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.
In these improved scenario, we are launching the ‘Infinite India’ portal, that brings together various banking and value-added services on one platform for foreign companies. It frees up their bandwidth from time-taking procedures and thus boosts their business growth by improving overall productivity and efficiency. The ‘Infinite India’ initiative is part of our strategy to further strengthen our technology-enabled offerings aimed to partner with foreign companies coming to India. We believe that our dedicated strategy for this segment will further simplify the journey of foreign companies looking to start or expand their business in India.”