Amazing of Modi government, India is included in the top-5 countries of the world in terms of ease of starting a new business
In the last few years, the Modi government has given special attention to the ease of doing business. Presenting the budget on February 1, Finance Minister Nirmala Sitharaman had said that her government is making it easier to do business in the country by abolishing about one and a half thousand non-essential laws. In the last two years, more than 25,000 compliance rules have been withdrawn. The impact of these decisions is now visible. According to a report, India has joined the top-5 economy in the world in terms of ease of starting a new business. A coalition of 500 researchers has given this information in a report on Thursday. India is at the top in low income economy. The Global Entrepreneurship Monitor 2021/2022 report presented at the Dubai Expo gathered these data based on the opinions of 2,000 participants from 47 high, middle and low-income economies.
Indian participants answered questions related to their entrepreneurial activity, attitude towards enterprise and local entrepreneurial ecosystem. About 82 percent of the participants said that starting a business in India is easy. In this case, India has been ranked fourth globally.
About 83 percent of the participants believe that there are good opportunities for starting a business in their area. This figure ranks second globally. Further, 86 per cent of the participants in India said that they have the skills and knowledge to start a business. This figure ranks fourth globally. Most of the entrepreneurs said that due to the Corona epidemic, they have started working on a plan to do business in search of new opportunities. Recently, there was a report from King's College, London, according to which Corona will have a positive effect on their business in the long term. Apart from this, there has also been a boom in startup culture in India in the last few years. This ecosystem is growing rapidly.
