Doing Business in India, South Asia’s Top Reformer
February 26th, 2007 - by Sumita GhoshThe World Bank recently released its ‘Doing Business in South Asia 2007′ rep
ort http://www.doingbusiness.org/southasia, ranking India the top reformer in the South Asia region. The country’s efforts to carry out five major reforms in 2005-2006 (to simplify business registration, cross-border trade and payment of taxes, to ease access to credit and strengthen investor protection) makes it the best business destination in the region. Hyderabad, Bangalore and Jaipur 3 of the 12 Indian cities covered by the report, are said to have the most business-friendly regulations, Mumbai and Kolkata ranked last due to the complexity in their business regulations. It is said to now take only 35 days to register a business in Mumbai (71 days in early 2006, 89 days in 2004) and only 35 days to register property in Hyderabad (138 days in New Delhi, 155 days in Kolkata). Though the reforms helped make doing business in India much easier, the country is still low on the scale (ranked 134) and is 41 places behind China. The author of the report, Ms. Caralee McLiesh believes that India could do much better and says that it could even “jump significantly in the global ‘Doing Business’ rankings, well ahead of other emerging markets like China”. After the country expands the best practices in business which it has already adopted in some cities, it could surpass China and several other countries as one of the best destinations for doing business.
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