It is reported that at least 12 procedures are required to set up a business in India. These apply in most of India but may vary due to differences in rules at the State level. The World Bank estimates that it takes 29 days at a cost of some 56.54% of GNI per capita to start a business in India. In 2010, India ranked 165 out of 183 economies for ease of starting a business, up from 168 in 2009.
Does India have any plans to simplify the procedures, in order to reduce business set up time and attract foreign investment?
Reply: The report of the World Bank is not representative of the business environment across the country. The sample size and the statistical universe are very limited in size. Government is reviewing the FDI policy and regulations, on a continuing basis, with a view to their further liberalisation and increasing their investor friendliness.
