DOING BUSINESS IN INDIA -PART 2

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• How does India Fare when compared to Best practices followed globally?

India is has roughly 11 procedures, with most states having 12-13 processes if you want to start a company in India. This puts India at a very poor 137 rank when compared to other countries. Some European countries have just a couple of process if they need to start a business.

The area of “starting a business”seriously needs to see some reforms , if India has to promote Entrepreneurship and Innovation in India.

Even when it comes to number of days required, India is ranked outside of top 100 countries – In India it takes more than a month if you want to start a business (that too if everything goes well, which is rarely the case).

I think the only area in which India has able to create some reforms is the amount of time it requires to deal with construction permits where it has a ranking of 19.

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• In which Indian city is it easiest and fastest to start a Business?

The Indian capital – New Delhi – ranks the top where it is easiest to start your own business, where Bangalore fares the worst among the top cities in India.

..and when it comes to fastest in starting a Business it is the Financial capital of India, Mumbai along with another Industrial hub, Noida.

  
(click on the graph to view)

Take that – In New Zealand it takes just a single day to start a Business and just 0.4% of per capita income compared to 30 days and whooping 70% of per capita Income !

What would you say to that – Luckily we take slightly lesser time to start a business as compared to South East region !

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The Following report by World Bank talks in complete details on below given parameters of doing business in India.

1. Starting a business
2. Dealing with construction permits
3. Registering property
4. Paying taxes
5. Trading across borders
6. Enforcing contracts
7. Closing a business
8. Indian City wise Rankings