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Rediff.com  » Business » Top 20 countries most suited for business, India is far behind

Top 20 countries most suited for business, India is far behind

Last updated on: June 10, 2014 13:40 IST

Image: India is at 57th position in a survey done by the Economist Intelligence Unit (EIU) on ' World's best countires to do business in'
Photographs: Sahil Salvi Rediff Business Desk

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

Image: An aerial view of high rise buildings at the financial district in Singapore.
Photographs: David Loh/Reuters

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

Image: A general view shows the city of Zurich, Lake Zurich and the eastern Swiss Alps.
Photographs: Arind Wiegmann-Reuters

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

Image: A view of Hong Kong's Victoria Harbour.
Photographs: Bobby Yip/Reuters

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

Image: A view of Old Quebec City, Canada.
Photographs: Mathieu Belanger/Reuters

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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Tags: Canada , India

Top 20 countries most suited for business, India is far behind

Image: Rowers train at dawn on the Yarra River in Melbourne.
Photographs: Toby Melville/Reuters

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

Image: People stroll in a Stockholm park.
Photographs: Daniel Munoz/Reuters

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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Tags: Sweden , India

Top 20 countries most suited for business, India is far behind

Image: A view of the New York casino in Las Vegas, Nevada, United States.
Photographs: Steve Marcus/Reuters

USA 

Rank:

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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Tags: USA , India , US

Top 20 countries most suited for business, India is far behind

Image: New Zealand is known for a high level of personal freedom and existing laws are very investor-friendly.
Photographs: Getty Images

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

Image: Tammerkoski, Tampere, Finland.
Photographs: Courtesy, Wikimedia Commons

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

Image: A dog sits as he waits next to his owner to cross a street in Copenhagen.
Photographs: Radu Sigheti/Reuters

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

Image: Gamle Vossebanen or The Old Voss Line, Norway
Photographs: Courtesy, http://images.mitrasites.com

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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Tags: Norway , India

Top 20 countries most suited for business, India is far behind

Image: Potsdamer Street in Berlin.
Photographs: Thomas Peter/Reuters

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

Image: A nocturnal view of the 'Artilleria' funicular railway in the port city of Valparaiso, 137km northwest of Santiago, Chile.
Photographs: Carlos Barria/Reuters

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

Image: Taiwan is the biggest market for consumer products.
Photographs: Getty images

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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Tags: Taiwan , India

Top 20 countries most suited for business, India is far behind

Image: A man cycles past posters in central Dublin ahead of a fiscal treaty referendum in Ireland.
Photographs: Cathal McNaughton/Reuters

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

Image: Many MNCs have set up shops in Netherlands.
Photographs: Courtesy, Wikimedia Commons.

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

Image: Guests enjoy a 'dinner in the sky' on a platform hanging in front of the Royal Palace in Brussels.
Photographs: Sebastien Pirlet/Reuters

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

Image: A traditional Fiaker carriage passes an election poster of Austrian Chancellor Werner Faymann of the social democrats (SPOe) in front of the parliament in Vienna September 4, 2013.
Photographs: Heinz-Peter Bader/Reuters

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

Image: A 20 hectare tropical landscape in the heart of Kuala Lumpur City Centre.
Photographs: David Loh/Reuters

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.

...

Top 20 countries most suited for business, India is far behind

Image: Isreal is home to global IT firms.
Photographs: Courtesy,DAvid Shankbone/Wikimedia Commons.

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.