Indian private sector lender ICICI Bank has introduced an online platform to help foreign businesses seeking entry or expansion in the Indian market.
The new ‘Infinite India’ platform provides a range of banking solutions and value-added services.
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These services include incorporation of a business entity, corporate filings, licences and registrations, HR services, compliances as well as taxation.
The value-added services will be offered in collaboration with a cloud based business accounting and corporate services firm. Plans are on to onboard more partners in the future.
Multinationals worldwide across various sectors such as IT, ITES services, manufacturing, pharmaceuticals, automotive, textiles can access the ‘Infinite India’ portal.
The platform aims to make it convenient for foreign firms to do business in India by ending the need to co-ordinate with various touchpoints.
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By GlobalDataICICI Bank executive director Vishakha Mulye 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.”
Recently, ICICI Bank transformed its iMobile banking app into a payments app for customers of any bank.
Dubbed iMobile Pay, the app enables customers to pay to any Unified Payments Interface (UPI) ID or merchants, make bill payments and do online recharges.
