Starting a business in the sub-continent ‘requires (a completion) of 12 procedures, (which takes) 27 days, and costs 49.8 percent of income per capita and requires a paid-in minimum capital of 140.1 percent of income per capita,’ according to data published in Doing Business 2013.
‘India stands at (a miserable) 173 in the ranking of 185 economies,’ surveyed by the World Bank and the International Finance Corporation for ‘the ease of starting a business.’
The embarrassing fact is that the South Asia 'regional average' rank, at 86, is much higher than India’s 173.
India’s neighbors – Sri Lanka, Maldives, Pakistan, Nepal, Bangladesh, Bhutan and Afghanistan – all fare better when it comes to ‘starting a business,’ dealing with construction permits’ and ‘enforcing contracts’, the report said.
Singapore comes first with respect to the ease of doing business on our planet, the report said.
‘A high ranking on the ease of doing business index means the regulatory environment (in that country) is more conducive to the starting and operation of a local firm,’ according to Doing Business 2013.