Formation of an Indian Limited Liability Partnership (LLP) requires minimum 2 partners and 2 designated partners, with at least 1 Indian resident designated partner. The partners and designated partners can be the same. Contributions from each partner are required. Digital signatures and Designated Partner Identification Numbers (DPIN) for all partners are also needed. The process involves applying for a DPIN, checking name availability, filing incorporation forms, drafting an LLP agreement, uploading forms, and paying fees - resulting in an incorporation certificate issued within 7 working days if all requirements are met.