Bangalore most difficult city for startups
International Finance Corporation (IFC), an arm of the World Bank conducted a research in Indian cities and had put Kolkata last in terms of business friendliness. Whereas report puts Delhi, Mumbai and Chennai on 6th, 10th and 15th positions respectively.
According to the report titled 'Doing Business in India 2009', India's ranking has been dropped six places to 122 among 181 countries. India is still not very favourable for doing business and starting new ventures in the country is a 'time consuming affair'. The country faces several bottlenecks, including bureaucratic hurdles, in making its environment attractive for businesses.
Penelope Brook, The acting vice-president of the financial and private sector development, World Bank Group said, "Red tapism and multiplicity of authorities are few bottlenecks that need to be addressed to do business in Indian cities more effectively." To start a business in shortest time in Mumbai and U.P.'s Noida, in just 30 days, wheras Bangalore takes 40 days to start business by obtaining all kinds of permissions.
Despite the drop in ranking, the study says the ease of starting and operating a green-field project in India has improved owing to significant reforms.
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