Doing Business in India For Dummies®

Chapter 9. Counting Your Rupees and Paise

In This Chapter

Getting familiar with Indian money Taking a look at India’s banking structure Financing your business in India Comprehending India’s tax system Familiarizing yourself with audit and compliance issues

Money and the movement of money are two of the most important aspects of doing business in any setting. India is no exception. If you’re going to be successful with your fledgling business venture in India, you need to be familiar with the country’s currency and how it can work for you and against you. Many of the elements of currency and finance in India are the same as you’ve seen in other parts of the world, but some differences can be a pain in your neck (and your wallet) if you don’t grasp them early in your endeavors.

In this chapter, I explore India’s money and how it moves through the country’s economy. I also examine a few financing options, and touch on India’s current system of taxation. Finally, I impart a bit of wisdom on audit and compliance concerns, which may help you avoid some major headaches as you get your start in India.