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The broad steps involved in setting up a joint venture company in India are outlined as under:

Step 1 - Locate an Indian partner
Step 2 – Form a Joint Venture Agreement setting out the rights and responsibilities of the Parties
Step 3 - In case the Joint Venture Company is a new company, incorporate a new company (public or private) and invest in agreed ratio. However, in case the investment is being made in an existing company by acquisition of shares by the foreign company, complete the share acquisition procedure.
Step 4 – Commence Joint Venture Business.

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