News: UK India Business Council(UKIBC) has released the sixth edition of Doing Business in India Report 2020.
Facts:
- About the report: The report is based on an in-depth survey of 106 UK organisations operating in India spanning manufacturing, services, and higher education sectors.
Key Takeaways:
- Nearly two-thirds of the UK businesses believe it is getting easier to do business in India due to progressive reforms and improvements in the availability of support and service providers, skilled labour and supply chain.
- State wise Analysis: Maharashtra has emerged as the state with maximum incremental improvement for the third consecutive year. Maharashtra is followed by Karnataka, Delhi, Gujarat and Tamil Nadu.
- Top Regulatory Irritants: Legal and regulatory barriers, Foreign exchange regulations, GST process issues, high import tariffs, lack of alignment with international standards.
- Suggestions: The survey suggests that improving bureaucratic processes with greater accountability, increasing regulatory certainty, simplification of the GST processes, improving quality of infrastructure and making single window clearance effective were the most sought-after reforms.
Additional Facts:
- UKIBC: It is a membership-based, non-profit organisation founded in 2007 to foster trade and business relations between the United Kingdom and India.The organisation works with businesses in both countries as well as the UK and Indian governments to promote and increase bilateral trade.
