UKIBC’S 6th Annual Doing Business in India Report: The UK Perspective
This is the UK India Business Council’s sixth annual ‘Doing Business in India’ Report, in which we outline the point of view of UK businesses and higher education institutions on India’s business environment and the ease of doing business.
This report details why companies want to do business in India, the challenges they face in doing so, priorities for the future, and rating of India’s business environment. This is done with the aim of uncovering the existing ease of doing business in India and shaping its progression.
The Government of India has identified digital technology, manufacturing, healthcare, education, infrastructure, agriculture and rural development as priorities for the country’s development.
The UK and other countries are well placed to support India in these and other areas. Accordingly, it is vital that India continues to improve its business environment to attract and facilitate external support, investment and partnerships.
In the World Bank’s Ease of Doing Business (EoDB) rankings, India has made extraordinary – and indeed unprecedented – progress in recent years, rising from 142nd globally in 2014 to 63rd in 2019.
The Government of India has rightly set the goal of reaching the top 50 in the near future and into the top 25 thereafter. So, while India has experienced great success, this report uncovers how this macro-level achievement has translated in reality and what must be done in the future if India is to emerge amongst the top 25 EoDB nations.
Discrepancies between states on regulations, laws, culture, and language are just some of the challenges that the Indian market poses to any active organisation or would-be investor. For this year’s edition, UKIBC has also included a section on four Indian states to show the developments taking place at the state-level to facilitate business.
This report highlights the existing challenges and priorities presented in India before concluding with several recommendations to improve the ease of doing business in India.
Authors: Kevin McCole & Kealan Finnegan