ID :
18847
Wed, 09/10/2008 - 21:15
Auther :
Shortlink :
http://m.oananews.org//node/18847
The shortlink copeid
India slips 2 notches in Doing Business Index
Washington, Sep 10 (PTI) India slipped two notches to
122nd rank, below neighbours including Nepal, Bangladesh and
Pakistan in the 'Doing Business Report 2009' prepared jointly
by the International Finance Corporation and the World Bank.
The report which ranks the country on the basis of ease
of doing business has placed Nepal above India at 121st
position, Bangladesh at 110th place and Pakistan at 77th place
in the overall ranking.
The 2008 report had ranked India at 120th position, while
Pakistan was at 74th place.
Singapore retained the first place in ranking, which
covered 181 countries of the world that provides quantitative
measure of regulation for starting a business, getting credit,
paying taxes, enforcing contracts and closing a business.
Among south Asian countries, India was ranked the lowest
as far as procedure to start a business is concerned. In terms
of number of days to set up an enterprise, the country has an
advantage over Bangladesh and Sri Lanka.
The Doing Business Report said it takes 30 days to set up
a business in India, 73 in Bangladesh and 38 in Sri Lanka.
Interestingly, the report added that an entrepreneur can start
a business in 9 days in Afghanistan and Maldives, and in 24
days in Pakistan.
The top slot in the category was occupied by New Zealand
where one can operate a business within 24 hours.
Closing a business enterprise in India continues to a
difficult job. The report said the insolvency procedure in
India may take 10 years as compared to 5 in Nepal and 2.8 in
Pakistan.
The report further said that it could take up to 1,420
days (about fours years) to enforce a contract in India as
compared to less than six months in Singapore.
The cost of enforcing a contract in India could be as
high as 39.6 percent as against 23.8 percent in Pakistan and
22.8 percent in Sri Lanka.
Procedures to enforce a contract, the report said, are
equally cumbersome in Pakistan, Bhutan and Bangladesh.
India, however, fared better in trade policy. According
to the report, it takes 17 days to export as compared to 24 in
Pakistan, 41 in Nepal and 74 in Afghanistan.
Similarly, it takes 20 days to import goods into India
as against 32 in Bangladesh and 35 in Nepal. It may take 77
days to import goods in Afghanistan, the report said.
122nd rank, below neighbours including Nepal, Bangladesh and
Pakistan in the 'Doing Business Report 2009' prepared jointly
by the International Finance Corporation and the World Bank.
The report which ranks the country on the basis of ease
of doing business has placed Nepal above India at 121st
position, Bangladesh at 110th place and Pakistan at 77th place
in the overall ranking.
The 2008 report had ranked India at 120th position, while
Pakistan was at 74th place.
Singapore retained the first place in ranking, which
covered 181 countries of the world that provides quantitative
measure of regulation for starting a business, getting credit,
paying taxes, enforcing contracts and closing a business.
Among south Asian countries, India was ranked the lowest
as far as procedure to start a business is concerned. In terms
of number of days to set up an enterprise, the country has an
advantage over Bangladesh and Sri Lanka.
The Doing Business Report said it takes 30 days to set up
a business in India, 73 in Bangladesh and 38 in Sri Lanka.
Interestingly, the report added that an entrepreneur can start
a business in 9 days in Afghanistan and Maldives, and in 24
days in Pakistan.
The top slot in the category was occupied by New Zealand
where one can operate a business within 24 hours.
Closing a business enterprise in India continues to a
difficult job. The report said the insolvency procedure in
India may take 10 years as compared to 5 in Nepal and 2.8 in
Pakistan.
The report further said that it could take up to 1,420
days (about fours years) to enforce a contract in India as
compared to less than six months in Singapore.
The cost of enforcing a contract in India could be as
high as 39.6 percent as against 23.8 percent in Pakistan and
22.8 percent in Sri Lanka.
Procedures to enforce a contract, the report said, are
equally cumbersome in Pakistan, Bhutan and Bangladesh.
India, however, fared better in trade policy. According
to the report, it takes 17 days to export as compared to 24 in
Pakistan, 41 in Nepal and 74 in Afghanistan.
Similarly, it takes 20 days to import goods into India
as against 32 in Bangladesh and 35 in Nepal. It may take 77
days to import goods in Afghanistan, the report said.
