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Top 20 countries most suited for business, India is far behind
Global investors have high hopes from India after Narendra Modi took over as the Prime Minister.
Currently, India may not be so popular as an investment destination due its complicated tax structures and for investment restriction in various sectors like infrastructure, defence and print media. But, this scenario is likely to change, believe corporate honchos from world over.
According to a recent survey done by the Economist Intelligence Unit (EIU) on ‘ World’s best countries to do business in’ and India is at 57th position.
Find out which are top 20 countries considered most suited for dong business for the next five years and why...
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Top 20 countries most suited for business, India is far behind
Singapore
Rank:1
Score: 8.65/10
Singapore is considered to be the world’s most investor-friendly location for the 2014-18 period. The city is not only known for its global business strategies, but it is also considered to be the best place to set up business in a hassle-free environment. The country is best known for maintaining its competitive edge across sectors.
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Top 20 countries most suited for business, India is far behind
Switzerland
Rank: 2
Score: 8.52/10
Switzerland is a gateway to European Union markets. Business friendly policies make it a country that offers a lot of opportunities for new companies. It is also popular for maintaining close economic ties with other countries.
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Top 20 countries most suited for business, India is far behind
Hong Kong
Rank: 3
Score: 8.39/10
It is easy to start any small or mid size business in Hong Kong due to quick government approvals and lower taxes.
Business permit and credit sanctions, both are cleared at one-stop window.
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Top 20 countries most suited for business, India is far behind
Canada
Rank: 4
Score: 8:30/10
Canada’s has a very efficient banking system where fund accessibility is easier than its neighbouring countries.
Tax rates are low which certainly lures global companies to invest in the country.
Its cities are clean and multi-cultural in nature, which motivates global firms to shift their base here.
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Top 20 countries most suited for business, India is far behind
Australia
Rank: 5
Score 8.29/10
Australia has a proven record of world class innovation and hence start-up firms are keen to set up business in this country.
Its strategic location, highly educated workforce and strong trade agreements with other countries are strong enough reasons to attract global investors.
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Top 20 countries most suited for business, India is far behind
Sweden
Rank: 6
Score: 8.26/10
Sweden has a non-corrupt and transparent environment where business houses are not given undue favours.
Its legal framework is simple and the authorities do not delay credit sanctions. These factors are strong enough for global business houses to set up shops in the country.
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Top 20 countries most suited for business, India is far behind
USA
Rank: 7
Score 8.25/10
A diverse economy, strong work force and business-friendly policies make most cities in the US ideal locations for setting up businesses.
High growth prospects and quality of life are am added advantage.
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Top 20 countries most suited for business, India is far behind
New Zealand
Rank:8
Score: 8:18/10
New Zealand has a very stable business environment which is quite encouraging for new entrepreneurs.
The country is known for a high level of personal freedom and its existing laws are investor-friendly.
Those who are already doing business in the country find prevalent foreign investment policy quite attractive.
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Top 20 countries most suited for business, India is far behind
Finland
Rank: 9
Score 8.18/10
A highly skilled workforce in Finland makes it an ideal place for foreign companies to start business here.
The country is committed to investing in research and development which has enabled it to become a highly industrialised economy.
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Top 20 countries most suited for business, India is far behind
Denmark
Rank:10
Score 8.16/10
World Bank says, Denmark is one of the easiest place in the world to do business .
One can set up a shop in a day and can get residence and work permits within one month.
This reason is strong enough to make Denmark one of the favoured investment destinations.
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Top 20 countries most suited for business, India is far behind
Norway
Rank: 11
Rank 8.01/10
Norway is also high on the list of corporates who want to expand their business globally.
Along with a skilled workforce, the country boasts of a simple tax structure.
Also, business and property registration do not take much time here. Insolvency related matters also get resolved in short duration.
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Top 20 countries most suited for business, India is far behind
Germany
Rank: 12
Score: 7.98/10
Being Europe’s biggest economy, Germany is popular for its technological achievements and flourishing export business.
Despite being hit by the global economic slowdown in 2009, the country has returned to glory in no time with the highest growth rate among other European markets.
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Top 20 countries most suited for business, India is far behind
Chile
Rank: 13
Score: 7.89/10
Chile is the most preferred business destination in Latin America. The country has liberal trade policies and its legal framework is also not complicated.
It has signed free trade agreements with most countries, hence has a strong hold on import-export business.
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Top 20 countries most suited for business, India is far behind
Taiwan
Rank: 14
Score: 7.85/10
The Taiwanese government provides adequate grants to start-up ventures.
The country has relaxed norms for foreign direct investment too.
Taiwan is also one of the biggest market for consumer products.
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Top 20 countries most suited for business, India is far behind
Ireland
Rank: 15
Score: 7.79/10
Currently, around 1,000 multi-national companies are doing business in the country due to its lower tax regime and extremely business friendly environment.
The Ireland government is pro-active in providing the required support to set up a company.
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Top 20 countries most suited for business, India is far behind
Netherlands
Rank: 16
Score: 7.78/10
Netherlands is one of the few economies which has a robust financial system and it is one of the most open and forward looking nations in the world.
This is the reason why global firms like Unilever, Philips and Heineken have set up shops in the country.
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Top 20 countries most suited for business, India is far behind
Belgium
Rank:17
Score: 7.69/10
Belgium is a modern country with a highly developed infrastructure for any kind of business.
The country has an extremely talented and focused workforce in almost all sectors.
Also, the federal and regional authorities are very supportive of foreign investment into the country.
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Top 20 countries most suited for business, India is far behind
Austria
Rank: 18
Score: 7.62/10
Austria is popular for its dynamic policies for the export sector.
Around 350 US firms have subsidiaries and franchisees in Austria.
Along with being a strong base for export companies, the country also encourages small and medium domestic business houses.
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Top 20 countries most suited for business, India is far behind
Malaysia
Rank: 19
Score:7.56
Malaysia can boasts of a transparent and well-regulated business environment. Most global firm prefer to invest in Malaysia as getting government permits is relatively easier.
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Top 20 countries most suited for business, India is far behind
Israel
Rank: 20
Score: 7.50/10
Israel is home to a large number of engineers and scientists and hence many IT firms like Microsoft, Motorola, Intel, HP, Siemens, GE has set up shops on the country.
Also, its political and business relation with the United Kingdom is very sound. And hence, Israel is a preferred investment destination for European business leaders.