India-based banking group ICICI Bank announced earlier this week the launch of, Infinite India, which is an online platform for foreign companies looking to establish or expand business in the country. According to ICICI Bank, the platform offers them banking solutions as well as value-added services such as incorporation of a business entity, corporate filings, licenses and registrations, HR services, compliances, and taxation among others.
“The ‘Infinite India’ initiative is a part of the host of technology-enabled-services that the Bank is offering to foreign companies/MNCs coming to India. These technology-enabled-services are aimed at strengthening the Bank’s position in the MNC segment, an important area. Driven by its dedicated team of relationship specialists, a comprehensive suite of technology-enabled services and leveraging on its global footprint to drive India-linked business, ICICI Bank will continue to build strong relationships with MNCs in India.”
Speaking about Infinite India’s launch, Vishakha Mulye, Executive Director of ICICI Bank, stated:
“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.”
Mulye went on to add:
“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.”
