Ease Of Doing Business: Modi Firm Favourite, But Cong Top Business-friendly Party, says BW-Decode Survey
Prime Minister Narendra Modi may remain as popular as ever with business leaders, but it’s the Indian National Congress that is rated as “most-business friendly” by Corporate leaders. Modi, of course, remains Corporate India’s top favourite.
But Modi’s ambition to take India to Top 50 in terms of ease of doing business fails to find many takers in Corporate India. As many as 80 per cent of industry leaders feel that India will not be able to break into Top 50 in terms of ease of doing business, in the next two years. Also, starting a business has not become easy at all, feels Corporate India.
These are some of the key findings of a BW Businessworld-Decode Survey of Corporate India in the context of ease of doing business.
Asked to name the top freedoms Corporate India must have, the industry leaders said: Freedom to start a business; freedom from permits and clearances; freedom from poor infrastructure, antiquated labour laws and complex tax laws.
Interestingly, Corporate India doesn’t find the politician as a hindrance to businesses and ease of doing business. As many as 56 per cent of business leaders feel that the politician is not a hindrance to ease of doing business.
Quite predictably, the bureaucracy is the villain here, with 76 per cent of industry leaders holding that the bureaucracy and ease of doing business don’t go well together.
While the Congress is rated as “Most-business friendly”, followed by the BJP, the CPI is the least business-friendly.
Interestingly, the corporate leaders feel that enforcing contracts is still too much of a problem, with 64 per cent of respondents holding the view. Also, there is a view in Corporate India that surprise moves like demonetization don’t really hamper progress.