The Republic of India is composed of 29 federal states and 7 Union states.
India has an increasing position into global governance. Its foreign policy is based on political stability and regional peacekeeping aiming at maintaining favorable conditions to its growth. The country is also implementing regulation to improve its environment and living quality.
India has a population of 1.3 billion people with a growing purchasing power. Indeed, the country has an impressive annual growth of more than 7%. Its GDP is up to 2,264 billion dollars, it is the 3rd highest GDP in the world after the United States and China.
In the nineties, India implemented an economic reform to liberalize and open its market. Since the 2000s, the growth of the country has been sustained and India has been recognized as a driving force of the global economic growth. India has implemented numerous programs to promote the modernization of the economy, including the “Make in India” program which aims at developing the national manufacturing industry. More recently, in July 2017, India reformed its tax system by implementing the Good and Services Tax (GST), a uniform tax which should raise the annual GDP by 2% and boost India’s domestic and international trade.
India economic strategy bores fruits as FDI went up to 44,9 billion dollars in 2015-2016, raising by 27% from the previous year.
There are around 10,000 French people currently living in India and more than 100,000 Indian people currently living in France.
In 2016, 4.57 billion euros of goods and services have been exported from France to India and 5.08 billion euros have been imported from India to France.
In this context, Simon Associés entered into a strategic alliance agreement with Majmudar & Partners law firm, established in Mumbai and Bangalore.
Majmudar & Partners is specialized in business law, including, but not limited to, M&A, banking and finance, capital market, investment funds and insurance.
The law firm has continuously been ranked as an Indian top-notch law firm by Asia Pacific Legal 500 and its managing partner, Akil Hirani is listed as one of the Leading Lawyers in the country.