Doing Business in India Report, 2020: Key Facts
The “Doing Business in India Report, 2020” was released by the UK India Business Council. According to the report the business of you came believe that the business environment in India is improving and there is a greater opportunity for UK India collaboration.
The businesses in UK find atma nirbhar Bharat mission as an opportunity to do more business in India according to the report. The report is being published for the sixth time since 2015. This year the report has been prepared based on an in-depth survey of 106 UK firms that are operating in India. These firms belonged to services, manufacturing And Higher Education sector.
The report says that 66% of the surveyed organisations believed that the ease of doing business in India is increasing. According to the report this change is mainly due to the progressive reforms and improvements in the business environment of India. The changes are predominantly found in availability of support, skilled labour, service providers and supply chain.
Key findings of the report
India’s score of doing business has improved from 2.74 in 2019 22.9 to in 2020. The most frequent obstacles in doing business with India is its legal and regulatory boundaries. The other irritants according to the report in doing business in India are GST issues, foreign exchange regulations, high import tariffs and lack of alignment with international standards.
State wise report
According to the report, for the third consecutive Year Maharashtra emerged as the state with maximum incremental improvement. It was followed by Karnataka, Delhi, Gujarat and tamilnadu.
The following solutions were suggested by the council to improve business between India and UK
- to increase regulatory certainty.
- to improve bureaucratic processes with the greater accountability
- to simplify GST processes.
- to improve quality of infrastructure
- to make single window clearance.
Category: Reports & Indexes Current Affairs
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