{"id":37246,"date":"2018-11-20T17:35:59","date_gmt":"2018-11-20T12:05:59","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=37246"},"modified":"2018-11-21T13:09:09","modified_gmt":"2018-11-21T07:39:09","slug":"corruption-no-longer-among-top-3-hurdles-to-doing-business-in-india","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/corruption-no-longer-among-top-3-hurdles-to-doing-business-in-india\/","title":{"rendered":"\u2018Corruption no longer among top 3 hurdles to doing business in India\u2019"},"content":{"rendered":"<p><a href=\"https:\/\/www.thehindu.com\/business\/Economy\/corruption-no-longer-among-top-3-hurdles-to-doing-business-in-india\/article25541379.ece\">\u2018Corruption no longer among top 3 hurdles to doing business in India\u2019<\/a><\/p>\n<p><strong>News:<\/strong><\/p>\n<ol>\n<li>The latest edition of the U.K. India Business Council\u2019s Ease of Doing Business Report was released recently.<\/li>\n<\/ol>\n<p><strong>Important Facts:<\/strong><\/p>\n<ol start=\"2\">\n<li><strong>Findings of the report:<\/strong><\/li>\n<\/ol>\n<ul>\n<li>The perception among U.K. businesses that corruption is a major barrier in doing business in India has halved compared with what it was in 2015.<\/li>\n<li>There has been a considerable<strong> year-on-year fall <\/strong>in the number of companies that viewed \u2018corruption\u2019 as a major barrier from 34% in 2016 to 25% in 2017, halving since 2015, where it stood at 51%,<\/li>\n<li>Those identifying \u2018corruption\u2019 as a major barrier has declined far more dramatically over the four-year course of this survey among those currently doing business in India [decline of 27% in the last two years] where it is no longer considered a \u2018top-three\u2019 barrier compared to those not currently active in India.<\/li>\n<li>\u2018Taxation issues\u2019 and \u2018price points\u2019 overtook \u2018corruption\u2019 as<strong> major barriers<\/strong> identified by 36% and 29% of respondents, respectively, the report said.<\/li>\n<li>However, the proportion of respondents identifying \u2018taxation issues\u2019 was 3% lower in 2018 than 2017, which suggests that businesses may be starting to adjust to the GST.<\/li>\n<li>The extent of digitalisation, however, varies markedly across sectors, as does corruption, eg., those engaging in infrastructure projects still reporting significant issues relating to corruption.<\/li>\n<\/ul>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-37234\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/11\/fewer.jpg?resize=450%2C291&#038;ssl=1\" alt=\"\" width=\"450\" height=\"291\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/11\/fewer.jpg?w=450&amp;ssl=1 450w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/11\/fewer.jpg?resize=150%2C97&amp;ssl=1 150w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/11\/fewer.jpg?resize=300%2C194&amp;ssl=1 300w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><\/p>\n<ol start=\"3\">\n<li><strong>Issues:<\/strong><\/li>\n<\/ol>\n<ul>\n<li>Those currently doing business in India cite<strong> \u2018taxation issues\u2019<\/strong> as a consistent barrier, whilst those looking to enter the Indian market understandably rate \u2018identifying a suitable partner\u2019 as their most salient issue after a considerable decline in reports of \u2018legal and regulatory impediments\u2019 from 2017 to 2018,\u201d the report said.<\/li>\n<li>The key issue for those outside India is increasingly <strong>market demand<\/strong> for their products and services relative to government and bureaucracy-related barriers.\u201d<\/li>\n<li>The government\u2019s<strong> \u2018e-biz\u2019 initiative<\/strong> towards faster clearances would improve the business environment, but the lack of transparency around business approvals, particularly in the case of statutory approvals for investments remains a major impediment.<\/li>\n<\/ul>\n<ol start=\"4\">\n<li><strong>Initiatives reducing corruption:<\/strong><\/li>\n<\/ol>\n<ul>\n<li>The report noted that initiatives such as Aadhaar, electronic submission of government documents, acceptance of electronic signatures, and the push to file taxes online, have all reduced face-to-face interactions where corruption is most likely to take place.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u2018Corruption no longer among top 3 hurdles to doing business in India\u2019 News: The latest edition of the U.K. India Business Council\u2019s Ease of Doing Business Report was released recently. Important Facts: Findings of the report: The perception among U.K. businesses that corruption is a major barrier in doing business in India has halved compared&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/corruption-no-longer-among-top-3-hurdles-to-doing-business-in-india\/\">Continue reading <span class=\"screen-reader-text\">\u2018Corruption no longer among top 3 hurdles to doing business in India\u2019<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[926,221,217],"class_list":["post-37246","post","type-post","status-publish","format-standard","hentry","category-test-1","tag-ease-of-doing-business-report","tag-economy","tag-gs-3","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704889532},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/37246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=37246"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/37246\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=37246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=37246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=37246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}