Business Contracts in India
India has a population of more than a billion and a fast growing economy. It is attracting interest from companies around the world that are looking to do business there.
Our new collection of contracts governed by Indian law is designed for use both by Indian nationals and by foreign companies wanting to invest in or export to the country.
India adopted its legal system from the English and English is the principal language of business. There are, nonetheless, legal and cultural differences and local legal advice is always recommended.
Whilst it is true that India adopted its legal system from the English and the principles and rules of common law as known in England prevail to a large extent in India, several adaptations in the law and an idiosyncratic business culture unique to India make it imperative that care is taken when entering into a contract for sale to ensure adequate protection exists in case of breach.
For a company seeking to export goods to India, any contract for sale and export would be governed by The Sale of Goods Act, 1930 (“Goods Act”) and the general principles of The Indian Contract Act, 1872 (“Contract Act”). These Acts are predominantly based on principles of English Law but there are differences which you can read more about in the free briefing paper available from our website.
Topics: Business Development and Contracts