World Bank has create an Ease of Doing Business Index/Economy Rankings and while Singapore tops the chart, India stands at a dismal 122nd position (Sri Lanka, Nepal, and even Pakistan is ahead of India).
The ranking has been done on the followingparameters:
- Starting a Business – Procedures, time, cost and paid-in minimum capital to open a new business
- Dealing with Construction Permits – Procedures, time and cost to obtain construction permits, inspections and utility connections
- Employing Workers – Difficulty of hiring index, rigidity of hours index, difficulty of firing index, firing cost
- Registering Property – Procedures, time and cost to transfer commercial real estate
- Getting Credit – Strength of legal rights index, depth of credit information index
- Protecting Investors – Strength of investor protection index: extent of disclosure index, extent of director liability index and ease of shareholder suits index
- Paying Taxes – Number of tax payments, time to prepare and file tax returns and to pay taxes, total taxes as a share of profit before all taxes borne
- Trading Across Borders – Documents, time and cost to export and import
- Enforcing Contracts – Procedures, time and cost to resolve a commercial dispute
- Closing a Business – Recovery rate in bankruptcy
Top 5 countries in the list are:
- Singapore
- New Zealand
- US
- HongKong
- Denmark
- UK
[check out the index here]
What’s your take on this report (‘Size does matter?’)
