Do you want to set up business in India? - Fusion - WeRIndia

Do you want to set up business in India?

Do you want to set up business in India?

India is attracting plenty of people with huge population and natural resources.

Moreover, the purchasing power of the average Indian has increased these days compared to the past.

In this regards, several potential entrepreneurs are looking unto India.

Even many youth of country are interested to establish their own startups. But if you want to set up a business in India, it takes many days to get permissions and other infrastructure.


Furthermore, it depends on the place or region where you want to establish your business.

The survey of Niti Aayog and Mumbai-based IDFC Institute revealed that it takes 118 days on an average to set up a business in India.

However, the survey results are different from the report of World Bank which was published in 2016.

As per that report, just 26 days are enough to set up a business in India.

This may be due to the difference in survey regions.

The World Bank report was prepared on the survey in the regions of Delhi and Mumbai whereas the survey of Niti Aayog – IDFC Institute covered almost the entire country except Arunachal Pradesh, Andaman and Nicobar, Mizoram and Lakshadweep.

Do you want to set up business in India?

Do you want to set up business in India?

Another reason for the variance between both reports is difference in parameters that were used for study.

Among all the regions. Tamil Nadu stood as the best-performing state as it took only 63 days for a business to set up. The allotment of land on average took 156 days nationally whereas it is 28 days in Himachal Pradesh. Similarly, environmental approval took 91 days nationally whereas it is just 25 days in Chhattisgarh.

According to the vice-chairman of Niti Aayog, many startups are not aware of the facilities in the regions where they want to set up a business. For instance only 20 per cent of startups that were established three years ago were aware of the existence of single-window facility.

 

Image Reference: The Economic Times, Business Standard

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