India Up 7 Ranks In �

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NEW DELHI: India's rank in the " [url="http://timesofindia.indiatimes.com/topic/Doing-Business-Index"]Doing Business Index[/url]" prepared by [url="http://timesofindia.indiatimes.com/topic/IFC-World-Bank"]IFC-World Bank[/url] climbed up seven notches indicating improvement in the business environment. However, spokesperson of the bank said that the attractiveness of doing business in a country did not depend solely on rank in the index.

India has been placed at 132nd position, up from 139th in previous year, in the Index. However, India's ranking remained well below those of the neighbours like [url="http://timesofindia.indiatimes.com/topic/Sri-Lanka"]Sri Lanka[/url] at 89th position,[url="http://timesofindia.indiatimes.com/topic/Nepal"]Nepal[/url] at 107th, [url="http://timesofindia.indiatimes.com/topic/Bangladesh"]Bangladesh[/url] at 122nd and [url="http://timesofindia.indiatimes.com/topic/Pakistan"]Pakistan[/url] at 105th. Even countries like [url="http://timesofindia.indiatimes.com/topic/Rwanda"]Rwanda[/url] and Samoa are place at 45th and 60th rank respectively.

Among the BRIC countries, again, India is placed at the lowest level as [url="http://timesofindia.indiatimes.com/topic/Russia"]Russia[/url] is at 120th, Brazil at 126th and China at 91st rank. [url="http://timesofindia.indiatimes.com/topic/Singapore"]Singapore[/url] continues to be at first rank, followed by Hong Kong, New Zealand, the US and Denmark.



The annual [url="http://timesofindia.indiatimes.com/topic/World-Bank-report"]World Bank report[/url] takes into account regulatory changes in 183 countries for starting and doing business by local firms. It ranks the economies in 10 areas of business regulation such as starting a business and resolving insolvency and trading issues across borders. This year, the ranking also include indicators on getting electricity.

The Doing Business Report said it takes 29 days to set up a business in India, 19 days in Bangladesh and 35 days in Sri Lanka. Interestingly, the report added that an entrepreneur can start a business in 7 days in [url="http://timesofindia.indiatimes.com/topic/Afghanistan"]Afghanistan[/url], 9 days in Maldives, and 21 days in Pakistan.

It said over the past six years, all eight economies in South Asia have made their regulatory environment more business-friendly, but Sri Lanka implemented the most reforms, thereby helping to create a better environment for entrepreneurs.

source: [url="http://timesofindia.indiatimes.com/business/india-business/India-up-7-ranks-in-doing-biz-index/articleshow/10434605.cms"]http://timesofindia.indiatimes.com/business/india-business/India-up-7-ranks-in-doing-biz-index/articleshow/10434605.cms[/url]