Credit comes easy but a lot else tough for biz in India
India continues to be a dodgy destination for anyone wanting to do business there, ranked 132 among 185 economies in the World Bank’s latest “Doing Business” report released on Monday.business Updated: Oct 23, 2012 22:31 IST
India continues to be a dodgy destination for anyone wanting to do business there, ranked 132 among 185 economies in the World Bank’s latest “Doing Business” report released on Monday.
The report said that starting a business in India is daunting — requires going through 12 procedures, which can take 27 days and can be expensive. Registering a property or building a warehouse are time-consuming.
The good news is: Getting credit is easy. It’s in fact the easiest of all the South Asian economies. India ranks 23, which is better than many developed countries. The report gave the credit for this to a “unified collateral registry, which is centralised geographically, became operational in India strengthening access to credit and the secured transaction regime”.
And, resolving a commercial dispute — “enforcing contracts” — remains tedious in India, which ranked 184. It can take up to 1,420 days —almost four years.
Neighbours Pakistan, Nepal and Bangladesh have done better, though not inspirationally better, coming in at 107, 108 and 129 respectively. Consolation prize: India beats Afghanistan.