India's International Finance Corporation's report, "Doing Business 2007" has bad news for India.
When it comes to starting up or shutting down a business India is far far behind...in time and in cost.
It takes over 35 days to launch a business in India. The cost in lost time according to www.business-standard.com equals nearly three-fourths of the country's per capita income.
It takes another 20 days to comply with licensing requirements, 1,420 days to enforce a contract and and...Yep, seems awful cumbersome to me.
India is ranked 134 our of 175 countries in doing business, 41 places behind China.
China tied India in the time it takes to set up a business.
But, you can file taxes in India faster (264 hours) than you can on average in Asia (290.4 hourse) I'll bet Indians are dancing in the street about that.
Another survey by World Economic Forum's Business Competitiveness Index says India is 50th and China is 49th.
Rankings are rankings, however, and in people can find what they want.
A more appropriate question would be how much money can be made in Bangalore if I invest a couple of million compared to investing the same amount in Guangdong or Shanghai?
Where would the money be better invested by city?
What do you think?
