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| Doing Business Report 2007 - India Highlights |
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The Doing Business report provides a global ranking of 175 world economies on the ease of doing business and reforms. The report is co-sponsored by the World Bank and the International Finance Corporation (IFC), the private sector arm of the World Bank Group. |
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India, as leading reformer in South Asia, has taken over the top spot from Pakistan. It has implemented reforms to simplify business registration, cross-border trade, and payment of taxes, as well as easing access to credit and strengthening investor protection. |
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Although the reforms improved India's ranking over last year's report, it still ranks relatively low at 134 and lies 41 places after China-which is reforming at a faster pace than India. |
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India cut the time to start a business from 71 to 25 days and reduced the corporate income tax rate from 36.59% to 33.66%. |
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A Supreme Court decision made enforcing collateral simpler-easing access to credit. |
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New risk management procedures in customs lowered import time by two days and exports by nine days. |
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And reforms to stock exchange rules toughened investor protections |
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