This refers to “Doing business still tough in India, Singapore the best: World Bank” (October 24). The World Bank-International Finance Corporation study shows that India continues to be among the most difficult countries to do business in — ranking 132nd among the 185 countries in which the study was conducted. In India, there is much talk about reforms. But they seem to be limited to raising the diesel price or opening sectors like retail trade to foreign investment. Their impact, if any, on growth will be insignificant.
In this context, the solution lies in improving administrative systems and procedures to facilitate the launch and expansion of business projects. Otherwise, even those limited reforms might be thwarted in the bureaucratic maze of rules and regulations. South Korea is among the top 10 countries for the ease with which business can be done. A speaker from a multinational company once said at a conference held in Mumbai that although South Korea had a plethora of regulations, decisions on project start-ups were generally given within seven to 10 days.
A Seshan, Mumbai
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