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Ease of doing business: Approvals simpler for start-ups than older firms | Business Standard News

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Ease of doing business: Approvals simpler for start-ups than older firms | Business Standard News

Ease of doing business: Approvals simpler for start-ups than older firms | Business Standard News

It took a manufacturing start-up 83.6 days on average to get land, 58.7 days for construction permits, 44 days to get an electricity connection, and 30.2 days to get a water connection, while the firm faced an average of 33.6 hours of power shortage and 33 hours of water shortage a month, found the first ‘Ease of Doing Business Report’ compiled by the NITI Aayog, the government’s think tank and IDFC institute, a Mumbai-based public policy think tank.

“If India is to enter the “double digit” economic growth club, clearly it will need to continually streamline and improve the business environment,” the report said.

The survey, which included both start-ups–firms that started during or after 2014–and older firms, found that the process of getting approvals was easier for new firms, which suggests that setting up a business has become faster over recent years, the report said.

 

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