India ranks high in building business

Photo ©thehindubusinessline.com

With more regulatory reforms and less time required to get building permits, India has thrown open its doors to global business.
The study was done jointly by International Finance Corp (IFC) and World Bank which ranked India 132 out of 185 for business ease. The report says that India is the first economy in the region to make construction permits faster for entrepreneurs, making start up enterprises, paying taxes and international trade easier.
Singapore rates as number one in the global ranking for the seventh consecutive year. Over all South Asia has introduced 65 regulation reforms to improve business conditions. The business conditions in India have climbed up steadily since 2005 said the Global Indicators and Analysis Director of the World Bank Group. Despite all the efforts, he also stressed that further progress is mandatory in the coming years to make India’s private sector bigger and stronger.

(Based on India.nydailynews.com)