Foreign firms should consider sourcing from India due to its cost-effective manufacturing, diverse supplier base, high-quality production capabilities, and strong supply chain networks. India's competitive pricing, skilled workforce, and growing industrial infrastructure make it an attractive sourcing destination.

Navigating taxation and regulatory compliance in India involves understanding local tax laws, adhering to compliance requirements, and leveraging support from experts. Foreign businesses must manage GST, corporate tax regulations, and regulatory frameworks to ensure smooth operations.