What are the forms in which business can be conducted by a foreign company in India?
A foreign company planning to set up business operations in India has the following options:
As an incorporated entity by incorporating a company under the Companies Act, 1956 through:  Joint Ventures; or  Wholly Owned Subsidiaries
As an office of a foreign entity through Liaison Office / Representative Office, Project Office, Branch Office
Such offices can undertake activities permitted under the Foreign Exchange Management (Establishment in India of Branch Office or other place of business) Regulations, 2000.