Doing Business in India is not easy, and the recent Forbes report suggests that it is getting even tougher ! India is ranked at lowly 64, a fall of 13 places over last year.
To find the top business economies, the Forbes survey analyzes business climates in each of more than 120 national economies, focusing on degrees of personal freedoms, like the right to participate in free and fair elections, or freedom of expression and organization.
Denmark has taken the top position (rise of 4 places) in the survey with Ireland and Finland coming at 2nd and 3rd position respectively.
According to the report, India (No. 64, down 13) and China (No. 79, down two) fell in this year’s ranking as political instability demonstrated resistance to increasing personal freedoms. Higher inflation from food and other commodity costs, as well as increased burdens on entrepreneurs also held the world’s most populous nations back as business destinations.
I think the ranking is fair – Just take the example of Singur Tata Nano plant. An ambitious project that would have propelled India into the big league has been hampered by mindless people trying to gain political mileage. Where else would you see this?
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We just have to wait for the new bill to be passed in the parliament. I think India would be ready by the time Forbes does its next survey. This new bill has almost halved the number of norms required by a company (new or old). It will also expedite the start of a new company. Also, it has a provision for one many company (which is not allowed right now). With these changes India is moving in the right direction, alas a bit slow compared to China. The ‘elephant paradigm’ holds good for India all the time. The growth is slow but irreversible.
http://www.indianomics.com/2008/08/new-bill-to-make-doingbusiness-in-india-easier/
I am prepared to agree on "An ambitious project that would have propelled India into the big league", but I take exception to "has been hampered by mindless people trying to gain political mileage"!!
Whom are you referring to as mindless people? The farmers who lost their land by forceful eviction or activists who are fighting for their cause? Or somebody else?
I wouldn’t call either of the former as "mindless". If tomorrow some company forcefully bulldozed your ancestral house, and grabbed the land of all your near and dear neighbours, in the name of progress (and for making a ‘modest’ profit too) I would love to see the proud smile on your face as you welcome "the propulsion into the big league"
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