Mumbai, Dec 22 (Agency) Private Sector lender ICICI Bank had launched an online platform for foreign companies looking to establish or expand business in the country called ‘Infinite India’. The platform offers them 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.
An industry-first initiative, the ‘Infinite India’ platform 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. 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. 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 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.” ‘Infinite India’, the most comprehensive programme in India, offers a wide range of banking and value-added services to meet requirement of foreign companies throughout their business lifecycle. Typically, the foreign entities would spend a lot of time and bandwidth to reach out to individual service providers in order to take care of matters which are not related to core of their businesses. With ‘Infinite India’, they get the convenience of single-point access to a host of services at an attractive price. These value-added services are now available in association with a a leading cloud based business accounting and corporate services firm. The Bank will induct more partners on board in order to expand its bouquet of services on the platform.