ICICI Bank has launched ‘Infinite India’, an online platform that lets foreign companies to establish or expand operations in India.
The Infinite India platform offers banking solutions to businesses along with services such as incorporation of a business entity, corporate filings, licences and registrations, HR services, compliances and taxation.
Claimed to be an industry-first initiative, the new platform is expected to provide significant convenience to foreign companies by removing the need to co-ordinate with multiple touchpoints, leading to a hassle-free experience of doing business in the country.
It is part of a host of technology-enables services that the bank is offering to foreign companies or multinational corporations (MNC) coming to the country. These services are aimed at strengthening the bank’s position in the MNC segment, which it considers to be an important area.
As part of the initiative, a wide range of banking and value-added services will be offered to meet the requirements of foreign companies throughout their business lifecycle.
These services will be offered in association with a leading cloud based business accounting and corporate services firm. The bank plans to include more partners to expand the suite of services on the platform.
ICICI 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.
“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.”
