Speed Post News Network
New Delhi : NITI Aayog on August 28, 2017, launched the Ease of Doing Business report based on an Enterprise Survey of 3,500 manufacturing firms across Indian states and union territories. The survey was conducted along with the IDFC Institute to assess the business regulations and enabling environment across the country from firms’ perspective.
The survey was released by the Union Minister for Commerce Nirmala Sitaraman and Minister of Law & Justice and Electronics and Information Technology Ravishankar Prasad at a function in the national capital. Vice Chairman of NITI Aayog Arvind Panagariya, his successor Rajiv Kumar who assumes office on September 1, 2017, CEO NITI Aayog Amitabh Kant,and Secretary, Department of Industrial Policy Promotion, Ramesh Abhishek, along with the representatives from the industry, academia and senior officials of NITI Aayog were present on the occasion, according to a PIB release.
The Ease of Doing Business report based on an Enterprise Survey of 3,500 manufacturing firms survey comes in the backdrop of the fact that India needs to create an environment that fosters globally competitive firms capable of driving and sustaining economic growth, according to the PIB release.
According to the report, new firms report a more favorable business environment as they take less time in obtaining approvals than older firms, suggesting an improvement in the business environment. Firms with more than 100 employees took significantly longer to get necessary approvals than smaller firms with less than 10 employees, the report said.