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How tough is it to start business in India compared to that in America or China?
Doing business in India is still tough compared to that in other countries. Small business owners are not a privileged class in any country. But Indian procedural delays and threats thwart it further.
According to World Bank's report ''Doing Business in 2005'', starting business in India takes nearly three months compared to just 5 days in US, 41 days in China and less than a months time in Pakistan.
The findings, which were presented in the Rajya Sabha by Minister of State for Commerce and Industry E V K S Elangovan through a written reply, said starting a business in India took nearly 89 days.
While India fared better than Brazil, where opening a business was said to take as many as 152 days, the country was behind Pakistan, where it takes only 24 days to set up a business.
In France it takes 8 days, Netherlands 11, Italy 13, England 18, Austria 29, and Belgium 34 days.
With a procedure of 152 days, Spain is only the second country where it takes longer than India to open a new business.
Closing a business in India takes 10 days as against less than a day in Belgium and Japan, one day each in Austria, England and Spain, 1.2 days each in Germany and Italy, 2.2 days in Sri Lanka, 2.4 days in China and 3 days in the US.
As per the World Bank findings, it takes as much as 1,390 days to enforce a contract in Italy, while the same takes 425 days in India.
Enforcing a contract is fastest in Netherlands (48 days), followed by Japan (60 days). It takes 250 days to enforce a contract in US and 241 days in China. In Pakistan, it takes 395 days, England 288, France 75, and Brazil 566 days.
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