World Bank and International Finance Corporation have released a report “Doing Business in 2006”, which provides ease of doing business ranking of 155 countries. The ranking is based on 10 parameters.
• Ten parameters are — starting a business, dealing with licenses, hiring and firing workers, registering property, getting property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business.
• New Zealand has emerged as the top most country in the ranking, which implies that it is easiest to do business in there.
• India is positioned at 116th, which comes after China (at 91st), Pakistan (60th), Sri Lanka (75th) and Nepal (55th)
• It took 11 procedures, 71 days and cost 61.7% of per capita income on an average for starting a business in India in January 2005, according to the report.
East Asia and Pacific performs well on the ease of doing business
Time to start a business (days)