ICICI Bank is all set to launch its online platform for foreign companies that want to set-up or stretch their business in India. This platform would provide them various banking solutions as well as value-added services.

In a statement, ICICI Bank states, Infinite India platform presents banking solutions as well as value-added services such as the incorporation of corporate filings, business entity, HR services, licenses and registrations, compliances, and taxation amongst others.

The private sector lender has also stated that it is an industry-first initiative that gives significant convenience to foreign companies, as it eliminates the need of coordinating with multiple touchpoints leading to a hassle-free experience of doing business in India.

As part of the bank’s technology-enabled-services, Infinite India is aimed at strengthening the position of the lender in the multinational corporation (MNC) segment, an important area, it said, adding ICICI Bank will continue to build strong relationships with MNCs in India.

Among the key value-added services under this, the company would also offer incorporation services at setting up stages such as laws as regulations advisory, branch office, liaison office, project office, or Limited Liability Partnership (LLP) advisory.

Furthermore, it would also offer services on licenses and registration, taxation compliance, and human resources assistance. Multinational from industries that include IT, ITES services, manufacturing, automotive, pharmaceuticals, textiles among others can visit the Infinite India portal and apply for the required service, states ICICI Bank.

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 have boosted India’s economic outlook significantly." She further adds, "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."