225. Getting new business loan

in India

Q: Hello, I am in UK and and am planning a business venture in Northern India. Will I get a business loan, from the bank - private and public sector banks? Are there any banks which are more favourable to such lending than others. Can you please refer me to a source of reliable business information for OCIs in Chandigarh and Delhi to rely on once I am there? Many thanks, Harmeet A. Business loans are available provided you have collateral and a sensible business plan that lenders feel is viable. For new industrial development in India there are several incentives offered by various State governments in India so as to attract new business ventures setup in their State. These incentives could be in the form of free land, tax exemptions for a number of years, reduced electricity cost etc The best place to start when planning a new investment in India is to visit the various state industrial development corporation websites and check out what incentives are offered. Just about every state in India has a Industrial development corporation website. Additional information with some contact addresses is included in my recent book, THE NRI GUIDE 2012/2013. I can't refer any sources for reliable business information but you should look for a business consultant. They can save you time and money provided you find someone reliable. Information from state government departments when it comes to investing, is always free and easily accessible from their websites.