Diplomacyindia.com

India leads South Asia in ease of doing business : World Bank

India leads South Asia in ease of doing business : World Bank
October 29
18:35 2014

Washington, Oct 29 A new World Bank Group report finds that has India set the pace for regulatory reform in South Asia since 2005 with 20 measures – the largest in the region.

India was followed by Sri Lanka with 16 reforms while three countries – Bangladesh, Nepal, and Pakistan – focused their efforts on adopting modern electronic systems to facilitate business activity.

The “Doing Business 2015: Going Beyond Efficiency” report released Wednesday found that four of eight economies in South Asia implemented at least one regulatory reform making it easier for local entrepreneurs to do business since 2005.

“Doing business is easier in economies with administrative efficiency and strong regulatory protections,” said Rita Ramalho, Doing Business report lead author, World Bank Group.

The report noted that in India a little over a decade ago, an entrepreneur seeking a loan to grow his business would have had little luck, because financial institutions lacked access to information systems to assess creditworthiness.

“Today, thanks to the creation and expansion of a national credit bureau offering credit scores and coverage on par with those in some high-income economies, a small business in India with a good financial history is more likely to get credit and hire more workers,” it said.

Three of India’s regulatory reforms benefiting local entrepreneurs were in the areas of starting a business, getting electricity, and protecting minority investors, including through the adoption of the new Companies Act of 2013.

India made starting a business easier by considerably reducing the registration fees, but also made it more difficult by introducing a requirement to file a declaration before the commencement of business operations, the report said.

These changes apply to both Delhi and Mumbai. In addition, the electricity utility in Mumbai made getting electricity less costly by reducing the security deposit for a new connection.

Finally, India strengthened minority investor protections by requiring greater disclosure of conflicts of interest by board members, increasing the remedies available in case of prejudicial related-party transactions, the report said.

It also introduced additional safeguards for shareholders of privately held companies. This reform applies to both Delhi and Mumbai.

This year, for the first time, Doing Business collected data for a second city in economies with a population of more than 100 million.

In India, it now analyses business regulations in Delhi and Mumbai; in Bangladesh, in Chittagong and Dhaka; and in Pakistan, in Lahore and Karachi.

The report covering 189 economies worldwide, found that Singapore tops the global ranking on the ease of doing business.

Joining it on the list of the top 10 economies with the most business-friendly regulatory environments are: New Zealand, Hong Kong, China, Denmark, South Korea, Norway, the US, Britain, Finland and Australia.

About Author

admin

admin

Related Articles

Dr Meena Singh Roy speaking on Uzbekistan Constitutional Reform Referendum 2023

On the Eve of 30th Years of Independence of Republic of Uzbekistan, H.E. Dilshod Akhatov, Ambassador of Uzbekistan to India in conversation with Ameya Sathaye, Editor-in-Chief.

Denmark Ambassador to India Freddy Svane in conversation with Amb Pradeep Kapur & Ameya Sathaye, Editor-in-Chief

Italy india will work closely together for G20 : Italy Envoy to India

Do you know why FINLAND is ranked number ONE in Happiness index, watch this interview with Finland Ambassador to India

Exclusive Interview : H.E. Jasem Ibrahem Al Najem Ambassador of Kuwait to India speaks on India Kuwait bilateral relations

ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा 0 comment Read Full Article

H.E. Reuben Gauci, Ambassador of Malta to India speaks on India-Malta Bilateral Relations

Portugal supports India in covid crisis : Portugal Ambassador Carlos Pereira Marques speaks with Ameya Sathaye, Editor-in-Chief

Vietnam Ambassador to India, Pham Sanh Chau speaks on Vietnam support to India in tackling covid crisis

Netherlands supports India in covid crisis : Netherlands Ambassador Marten van den Berg speaks with Ameya Sathaye

Envoy Speaks : Gopal Baglay, Indian High Commissioner to Sri Lanka speaks on Bilateral relations, business opportunities, Tourism & people to people to people contacts

Kuwait reciprocates, we stand with India in this hour of crisis : Kuwait Ambassador to India

Canadian High Commissioner, Nadir Patel speaking on support to India in covid crisis

Italian Ambassador to India, Vincenzo de Luca speaking on Italy support to India in covid crisis

H.E. Mr. Reuben Gauci, Malta High Commissioner to India speaks with Ameya Sathaye, Editor-in-Chief of Malta support to India in covid crisis

Danish Ambassador to India Freddy Svane speaking on Denmark aid to India

Video Interview with Vinod Daniel, CEO, India Vision Institute, Board Member, International Council of Museums & Chairman, Ausheritage

DENMARK AMBASSADOR FREDDY SAVNE VISIT TO CORONOVIRUS VACCINE FACILITY AT HYDERABAD, A TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVT OF INDIA FOR FOREIGN ENVOYS BASED IN INDIA.

MALTA HIGH COMMISSIONER TO INDIA, H.E. REUBEN GAUCI SHARING HIS IMPRESSION ABOUT HIS VISIT TO HYDERABAD : TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVERNMENT OF INDIA FOR ENVOYS BASED IN INDIA TO UPDATE ON CORONAVIRUS VACCINE

H.E. Mr. Dinesh Bhatia, Ambassador of India to Argentina in conversation with Ameya Sathaye, Editor-in-Chief

Pictures of Formal Launch of Website Diplomacyindia.com

Exclusive Interview with Prime Minister of Guyana, H.E. Mr. Moses Veerasammy Nagamootoo during his recent visit to India.Highlights of the interview were Indian Cultural Connect, Vibrant Bilateral Ties and Cultural Connect and India’s Economic Prowess.

Video Message from Shri Prakash Javadekar, MoS (IC) for Forest, Environment & Climate Change on eve of Formal Launch of Website Diplomacyindia.com

Message from Gen. V K Singh, (Retd.) Hon’ble MoS, External Affairs to Diplomacyindia.com