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 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.
The only solace that India could get in the ranking is that its position is somewhat improved from 2006 index when it was positioned at the 138th position.
On ten parameters, India is ranked at 88th position when it comes to starting a business, 155th in terms of dealing with license, 112th on the parameters of employing workers, 10th on the indicator of registering property, 65th in getting credit, 33rd in protecting investors, 158th in paying taxes, 139th in trading across borders, 173rd in enforcing contracts and 133rd in closing a business.
