Archive 05
High Street Partners announces HSP Access India™ - New Service to help US and UK companies doing business in IndiaHigh Street Partners announces HSP Access India™ - New Service to help US and UK companies doing business in India |
| 4 April, 2005 - PR Newswire/Annapolis, MD - High Street Partners, an international consulting firm providing finance and accounting assistance to companies as they expand overseas, today announced the launch of HSP Access India™. The new service offers the finance team of venture-backed and recently public companies in the US and UK a streamlined way to establish and manage Offshore Development Center (ODC) subsidiaries in India. “India is a key global growth center,” said Larry Harding, President of High Street Partners, “and for many organizations, particularly those in the technology sector, a presence there is perceived as crucial. However, it’s difficult for companies to get their arms around a market half a world away. They need specific operational help.” HSP’s network of local service providers and its contacts with government agencies and representatives in the US, UK and India help ease client entry and maximize the benefits of offshoring. In addition to the requisite Accounting, Bookkeeping and Taxation (AB&T) requirements, the firm provides assistance with other legal, real estate, recruiting, IT and human resources issues associated with expansion. HSP also helps companies obtain approval for Software Technology Parks of India (STPI) tax incentive plans for the ODC. “As a consultant whose business is ensuring that our clients find success with their offshore operations in India, I recognize how important it is that the HQ finance team, working with the right partners, set things up correctly at the outset” said M. M. “Sath” Sathyanarayan, President of Global Development Consulting, Inc. in Cupertino, California. “Clients entering India will find HSP Access India very useful in getting their ODC subsidiaries started off on the right foot.” HSP’s Nigel Gurney recently returned from the region and will lead the India initiative. “The potential for US and UK companies in India is immense, but different organizational and compliance requirements, longer administrative time lines and unique taxation structures can present significant challenges for the companies setting up shop there,” he said. “This new service can help.” HSP Access India rolls out this month. Like the firm’s other services, HSP Access India ensures that the client’s headquarters finance team works with a single point of contact who also works closely with their legal, accounting, and other advisors. After an initial setup fee, HSP Access India is available for as little as US$500 per month for a subsidiary with up to five employees. About Global Development Consulting Global Development Consulting, Inc. (“GDCI”) is an offshore advisory and management firm headquartered in Cupertino, California. For companies with an existing offshore operation, GDCI will assess and help improve its business value, and for those considering offshoring, the firm provides end to end consulting to help them reach their business objectives. For more information visit http://www.gdcinc.biz/. |
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