Doing Business in India – World Bank paints a sad picture

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?’)

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