The Art Of Doing Deals In India
India gets the highest spot in A. T. Kearney's latest listing of Global Services Locations. "China and India jockey for the top most attractive foreign direct investment destination globally while the U.S. is challenged by these rapidly evolving economies," reports the management consulting firm. India, seen as a leader in information technology services and business process outsourcing, has a fast-growing consumer market with strong long-term potential. On the other hand, from a list of 175 economies around the world, India ranks 134 in business-friendly regulations, as per a 2007 report released by the World Bank Group. This low ranking may not surprise those who're familiar with the country's notorious Red tape Raj. The bulk of commercial profits from standard companies go towards taxes, apparently, and India's cumbersome regulations drive many into the underground economy. It's also relatively harder to hire and fire workers in India. On a more positive note, India ranks 33rd in protecting investors, scoring 6 out of 10 for all cities. Doing business now takes less time than even a year ago. To register a business in Mumbai, it took 89 days in 2004 and 71 days last year; now it takes 35 days, the shortest time among Indian cities. Still, to put things in perspective, it takes just two days to register a business in Australia. The ease of doing business in India is also improving. Here's a list of the cities, from best to worst: (1) Hyderabad (2) Bangalore (3) Jaipur (4) Chennai (5) Bhubaneshwar (6) Lucknow (7) Chandigarh (8) New Delhi (9) Patna (10) Ranchi (11) Mumbai (12) Calcutta.
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