Doing Business in India: A Challenge or Opportunities

Despite faltering after the great recession of 2008 and sustaining a GDP growth rate of 0.6 percent for over a decade, Ireland has been ranked at the top in the list of the “Best Countries for Business” recently released by Forbes.  Ironically, India—the country which has an average GDP growth rate of over 6% for over a decade— is ranked 98th among 145 nations graded by Forbes. Similarly, China has been ranked 94th among 145 nations; despite that fact that the country has maintained a consistent annual GDP growth rate of 9.2 percent since 1989. Other BRICS nations such as Brazil and Russia have been ranked at 80th and 91st positions respectively in the list of “Best Countries for Business.”  Therefore, it becomes pertinent to ask: Why despite performing so well in the near past and much better than many developed nations, India has been ranked so low in the list?