A survey, conducted for Regus, a global workplace and service provider, concluded that most people in India blame the country’s bloated bureaucracy for adverse growth prospects in the business sector. Lack of easily available finance was a big concern for small businesses.
The regional vice president of Regus South Asia, Madhusudan Thakur, said that the survey showed that Indian businesses are constantly worrying about red tape and inflation. The businesspersons want Indian bureaucrats and policymakers to pay more attention to making amends in their performance to help enhance business growth in the country.
The survey shows that 47 percent business decision makers blame red tape for retarded business growth. Inflation, political instability and state of the global economy were among the other top concerns, coming in at 42 percent, 33 percent and 26.5 percent respectively.
According to a Hindu Business Line report, the survey showed that India’s bureaucracy less affected larger companies where as 48 percent small businesses and 52 percent medium enterprises were largely affected by India’s policy inertia.