This refers to the editorial “Global challengers” (February 3).
India should fare well on important indicators such as enforcing contracts, paying taxes and dealing with licences.
The government should ease the tax payment process. This will help the informal sector become better organised.
Further, the importance of enacting a sound contract law cannot be neglected. A well-established contract law will speed up the process of doing business and also prevent any dispute or delay in closing business deals. Also, the central and state governments should announce loans, sops and incentives for the Indian business community.
India should learn from China and Japan, which have good infrastructure and sufficient power supply. Further, there are little administrative delays in the way of starting businesses in these countries. Also, the governments in these countries are offering incentives to businesses.
Besides, the government would do well to address power shortages, high tax regimes, administrative delays and corruption, which are the stumbling blocks for industry.
P Senthil Saravana Durai, Hyderabad
Readers should write to: The Editor, Business Standard, Nehru House, 4, Bahadur Shah Zafar Marg, New Delhi 110 002, Fax: (011) 23720201; letters@bsmail.in
