Ludhiana Is Identified As The Easiest Indian City For Business

The International Finance Corporation(IFC) has revealed in its study that Ludhiana, the major hub of Punjab, is the easiest place of doing business in India. Ludhiana, which was earlier called Manchester of India, was successful in grabbing top ranking because of the various helpful policies which allow ease of taxation, closing of business. Meanwhile, Patna, capital of Bihar, India's one of the least developed states, is also recognized as least expensive place for starting any business. The financial capital of country, Mumbai, is ranked as the city which is the fastest location for starting any new business. The said research has covered India's 17 cities including all 4 metros-Delhi, Chennai, Kolkata and Mumbai.   However, overall India has slipped down by six places to reach at 122 among 181 nations, studied by IFC in its yearly report, 'Doing Business in India', which was conducted by the World's Bank's commercial lending arm in collaboration with the commerce ministry and Confederation of Indian Industry(CII). In spite of the fact that there is a drop in rankings, the study says that the ease of starting and doing operation in a green field project in India has showed quite improvement owing to high business reforms in the policy domain from the last 3 years. According to the report, business environment reforms as per the report include the computerization of the Customs and excise gateway, introducing of online filing by the Ministry of Corporate Affairs and of value added tax. India is placed among the top regional reformers in South Asia, whereas China has topped the ranking from the East Asia and the Pacific regions in terms of 'Doing business reformers' since 2004. The said report is formulated on the basis of varied parameters on setting up of industrial and commercial activity such as permits, notifications and inspections. It includes dealing with construction permits, registration of property and the contentious taxing issue. Mr. Ajay Shanker, Secretary Department of Industrial Policy and Promotion, asserted that 'The timing of this study is just right-it comes even as the government is working on e-governance to facilitate growth in business.” About International Finance Corporrtaion(IFC)   IFC is directed towards fostering sustainable economic growth in development of nations by providing finance to private sector investment and is directed towards mobilizing capital in the global financial marketplace and provides varied advisory services to businesses and governments. http://www.biztradeshows.com/

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