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Today, India appears to be the most attractive market for foreigners when it comes to ease of doing business or expanding the business. Emerging corporate houses to big corporate houses are all set up and preparing for India entry. According to the recent report, India is among the top 20 countries that have developed the ranking of ‘Ease of Doing Business’, however, the final world rankings will be released on October 24 by the World Bank.
The USA is also planning to shift around 200 companies from China to India (Announced in Hoody Dispora). This motivates at least 1000 corporate houses who would most possibly shift/expand the business to India as a result of income tax reduced to 15% in India that is less than Malaysia, Singapore, China, etc.
India has given prior importance to both ease of doing business and ease of living. The four major improved areas calculated by the annual bank survey are resolving insolvency, starting a business in India, trading across borders, and construction permits.
The World Bank top 20 reformers list has published world top performers in regards to the business climate. The top 20 rankings have been made based on the progress, reform implementation for small, medium and big enterprises for setting up a business in India.
Cross-border trade & transaction is followed by the amalgamation of government agencies and policies into the system, port infrastructure & equipment. Ease of doing business is also determined by the compliances of labor inspection commencement and notification via one-way clearance system to obtain construction permits easily in limited time.
Every year, India is rising its ranking in ease of doing business which is combination and achievement of multi-lateral effort and reform over the years. India has implemented over 48 huge reforms since 2003-2004, however, this doesn’t denote full-fledged attractiveness for companies for India entry, since the improvement is based on 10 regulatory areas.
In 2018, India jumped 23 positions by holding a record by obtaining 77th position among 190 countries against 100 position in 2017 (World Bank ranking). In 2017, India jumped by 30 positions that motivation/ attracted many international companies for India entry or doing business in India.
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