http://www.financialexpress.com/fe_full_st...ntent_id=139653

NEW DELHI, SEPT 6: India has managed to cut red tape and match China in ensuring speedy approvals for starting a business.

A new report, “Doing Business 2007”, by International Finance Corporation (IFC) reveals that setting up shop in India today takes as much time as it takes in China—35 days.


A year ago, 71 days were required to start a business in India and 48 in China.

Though India’s overall ranking had moved four notches up to 134 in 2006, and China improved its ranking to 93, up 15 notches from the previous year, the report,which was released on Wednesday, pointed out.

Singapore has displaced New Zealand to be the numero uno.

But the cost of doing business in India continues to be high at 73.7% of the country’s gross per capita income and the country remains at 173 in a list of 175 countries when it comes to enforcing contracts.


India is ranked 88 when it comes to starting a business, 112 for employing workers, 155 in terms of dealing with licences, 10 on the indicator of registering property, 33 in protecting investors, 158 in paying taxes, 139 in trading across borders, 65 in getting credit and 133 in closing a business.

In India, 270 steps and 20 days are required to complete the process of complying with licensing and permit requirements for ongoing operations.

Doing business must be a \'cake walk\' in China. All you have to do is sell about a million mcDonald Happy Mael todays to fat American kids and you are set up for life.

Go India!

I always laugh when Fareed Zakaria types try to make it sound like starting a business in India is like commoner try to get a chit approved.

Go India and China.

The world is a better place when India and China help each other.