How easy is doing business In India

923 Views Updated: 12 Oct 2016
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How easy is doing business In India

How easy is doing business in India?

Since the BJP led NDA government has come into the power it is offering lots of facilities to encourage people to start new businesses in India. The government's "Make in India" move is one of its policies to offer a favorable atmosphere for doing businesses in the country.

As a part of its efforts in this direction, India might have been considered a better destination for starting a new business.

According to the World Bank's 'Doing Business 2016' report, India is ranked at the 130th position out of 189 countries in terms of doing business with ease.

There are several measures introduced by the government due which it is possible to set up a new business easily. First, elimination of the paid-in minimum capital requirement. Second, eliminating the requirement to get a certificate to start business operations, the report said adding the reform is applicable to both Delhi and Mumbai.

Besides, there are three important factors which have helped India to become a better place for doing businesses- receiving construction permits, accessing electricity and protecting minority interest of shareholders.

India has made the greatest improvement in terms of ease of "access to electricity" which is important for any kind of business.

The World Bank said in its report that the process of getting a power connection in Delhi is simpler and faster as there is no need of the internal wiring inspection by the Electrical inspectorate. Similarly, getting electricity connection for a new warehouse is easy in Mumbai too due to less complicated procedures and less time to connect to electricity because of enhanced internal work processes and coordination, the report said.

Moreover, the introduction of Special Economic Zone (SEZ) Act 2005 also offers several facilities and incentives to the units in SEZ such as duty-free import, exemption from Central Sales Tax, exemption from Service Tax, single window clearance for central and state level approvals, and much more.

Posted by: sushmita Posts: (87) Opinions: (24) Points: 6,988 Rank: 11

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