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BUSINESS AND ECONOMICS IN INDIA

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Exploring ease of starting a business in India

EASE OF STARTING A BUSINESS IN INDIA

Time required to start a business in India (in days)

Parul Nirmal, Surabhi Tripathy

Observations:

It requires 18 days to start a business in India, where as other developing countries like Iran and South Africa takes 73 days and 40 days respectively.

India and Brazil can be considered to be at similar levels when it comes to starting a new business.

Pacific nations, New Zealand and Australia is the fastest among all the nations, where it takes only 1 and 2 days respectively.

Cambodia takes 99 days and Venezuela takes 230 days which can be considered the slowest nations, says the data of World Bank.

World Bank

EASE OF STARTING A BUSINESS IN INDIA

Time required to start a business in India (over the years)

Parul Nirmal, Surabhi Tripathy

Observations:

This Trend Analysis shows that India has improved its process of starting a business over the years.

In the year 2014, India takes 35 days to start a business.
The process became better by 2019, it only takes ~17 days to start a new business in India.

India is still working on further improving the procedure to be less time consuming and effective under its "Ease of doing business scheme" says Ministry Of Corporate Affairs.

World Bank

EASE OF STARTING A BUSINESS IN INDIA

Cost of starting a business

Parul Nirmal, Surabhi Tripathy

Observations:

Cost of business start-up procedures (% of GNI per capita) is almost same in India and Japan with 7.2% and 7.5% respectively.

Uk, tops the list of least costly countries to start a business with 0%.

It costs 211.8% of GNI per capita in Venezuela which can be considered the most costly nation to start a business, says the data of World Bank.

India is doing quite good in terms of reducing the cost of business start-up. In other developing countries like Sri Lanka and Bangladesh it costs 8.7% of GNI per capita.

World Bank

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