Business Reforms in India

Positive= Doing Business reform making it easier to do business. Negative= Doing Business reform making it more difficult to do business.

DB2012:

Positive Paying Taxes:

India eased the administrative burden of paying taxes for firms by introducing mandatory electronic filing and payment for value added tax.


DB2011:

Positive Starting a Business:

India eased business start-up by establishing an online VAT registration system and replacing the physical stamp previously required with an online version.


Positive Paying Taxes:

India reduced the administrative burden of paying taxes by abolishing the fringe benefit tax and improving electronic payment.


DB2010:

Positive Resolving Insolvency:

Procedures under the 2002 Securitization Act have become more effective, easing the process and reducing the time required to close a business.


DB2009:

Positive Trading Across Borders:

An electronic data interchange (EDI) was implemented, allowing exporters to submit documents to customs online. The EDI system also enables customs to automatically assess export documents, making customs clearance more efficient. The new system reduced the time needed to export.


DB2008:

Positive Getting Credit:

An electronic registry was introduced that covers the rights granted by companies. The registry can be searched by name of debtor, and is linked geographically to cover the whole country. The private credit bureau has incorporated firms to its database and now provides credit information on corporate entities.


Positive Trading Across Borders:

Through introduction of an Electronic Data Interchange (EDI) system, customs declarations are now carried out through the internet. This system has also allowed the operation of a Risk Management System (RMS), an E-manifest system, and an E-payment system which facilitated the decrease in import time by 7 days.


Reform Summaries


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