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India, the burgeoning economic powerhouse, poised to reach a staggering GDP of $5 trillion by 2025 and $8.4 trillion by 2030, is capturing the world’s attention. Within its diverse business sectors, the tech industry shines as one of the most promising talent reservoirs globally. In this dynamic landscape, Rapid, an avant-garde Employer of Record (EOR) platform, is orchestrating a seismic shift, propelling India’s tech evolution forward while providing global enterprises unprecedented access to this treasure trove of talent.
Founded by the visionary serial entrepreneur Navin Rungta, Rapid is redefining the paradigm for Global startups to scale up tech giants alike. Its mission: is to streamline and amplify access to India’s unparalleled talent pool while eliminating the burdensome need for establishing a local legal entity.
India’s tech industry is undeniably a global hotspot, attracting businesses across the spectrum – from AI and ML innovators to SaaS disruptors, Fintech trailblazers, and pioneers of Web 3 and emerging technologies. They all seek to harness India’s high-caliber, cost-effective talent, world-class infrastructure, and strategic time zone advantages.
Amid this tech renaissance, EOR platforms like Rapid have emerged as the linchpin in this transformative narrative. Rapid liberates global enterprises from the complexities of local legal intricacies and compliance, allowing them to channel their energies towards innovation and expansion. The company takes on the responsibility of HR, payroll, local benefits, legal compliance, and more, granting businesses the agility to scale rapidly and expedite fundraising due diligence.
The global Employer of Record market is poised for a meteoric rise, set to reach USD 3,745.43 million by 2030, boasting a remarkable CAGR of 12.07% from 2023. Navin Rungta, Founder of Rapid, remarked “India’s multifaceted legal landscape poses significant challenges for global corporations seeking to seamlessly tap into its talent pool. Rapid’s cutting-edge digital onboarding, rigorous eKYC procedures, and meticulous background checks create a secure work environment. With options for customizable HR policies, a service marketplace brimming with innovation, and a focus on privacy, Rapid offers replication of a company’s own entity experience without the need for a local presence. Rapid is your passport to India’s tech future.”
Rapid’s arsenal of unique value propositions encompasses Compliant Office Spaces, Equipment Procurement, Tax Benefits, Customized HR Policies, and an Innovative Services Marketplace. These offerings position Rapid as the trusted guide navigating India’s ever-evolving tech terrain.
Rapid’s commitment to unlocking innovation and sculpting a profitable tech landscape for global enterprises is unwavering. As it leads the charge in reshaping the future, Rapid stands as a beacon of transformation in India’s thriving tech ecosystem.
