02-11-2020 | 11:52 AM
Doing Business in India Report, 2020
Context:
The Doing Business in India Report, 2020 was recently released by the UK-India Business Council (UKIBC).
Key Highlights
This is the sixth edition of the report being published since 2015.
The report has been prepared on the basis of an in-depth survey of 106 UK firms belonging to services, manufacturing and Higher Education sectors that are operating in India.
As per the report, the business environment in India is improving and therefore there is a greater opportunity for UK-India collaboration in the business field.
The report highlights that 66% of the surveyed organisations believed that the ease of doing business in India is increasing. The changes were observed in the availability of support, skilled labour, service providers and supply chain.
India’s score of doing business has improved to 22.9 in 2020 from 2.74 in 2019.
Maharashtra has emerged as the state with maximum incremental improvement for the third consecutive year, followed by Karnataka, Delhi, Gujarat and Tamil Nadu.
Key Concern
The Report also highlights that the frequent obstacles in doing business with India are GST issues, high import tariffs, foreign exchange regulations, and lack of alignment with international standards.
Suggestions
The council suggests some measures to improve business between India and UK, which are:
(i) Simplifying GST processes
(ii) Making bureaucratic processes more accountable
(iii) Making single window clearance for projects
(iv) Improving the quality of infrastructure, etc.
