Why India is one of the worst countries for doing business according to International Finance Corporation (IFC)
Babu Ghanta
Sep. 6, 2006

Indians very quickly put businesses into two categories - domestic and foreign/expatriate or NRI owned. They try to facilitate the domestic business while trying to milk the Foreign and NRI owned enterprises.

According to media reports, doing business is not so easy in India as the country is way down at the 134th position in a list of 174 countries, ranked by International Finance Corporation (IFC) on various parameters of business environment.

The challenges of starting a business in India are far many with entrepreneurs expected to go through 11 steps over 35 days on an average to launch a business at a cost equal to 73.7 per cent of gross per capita income, according to a finding contained in a report on "Doing Business, 2007" by IFC, the private sector arm of the World Bank.

However, there is no minimum deposit requirement to obtain a business registration number in India.

Similarly, it takes 270 steps and 20 days to complete the process of complying with licensing and permit requirements for ongoing operations in India, according to the report.

Even among eight south Asian countries, India ranks sixth in the category of "ease of doing business" with only Bhutan and Afghanistan occupying the position behind it, according to the report.

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Babu Ghanta
Indians very quickly put businesses into two categories - domestic and foreign/expatriate or NRI owned. They try to facilitate the domestic business while trying to milk the Foreign and NRI owned enterprises.
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