Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2014-09-27

India a profitable place to do business: Govt official

India has been ranked 134th on World Bank list of ease of doing business.

Asserting that foreign funds are very bullish on investment opportunities in India, a senior government official said today the country was a profitable place to do business and would soon become an easier place for business, according to a PTI report.

 

"India has been ranked 134th on World Bank list of ease of doing business and Prime Minister Narendra Modi has said he wants to bring it up to at least 50," Manoj Joshi, Joint Secretary in Finance Ministry, told a group of US investors.

 

Speaking at India Investor Round-table organised by BNY Mellon and BSE, Joshi said that steps are being taken to improve India's ranking.

 

"It is a profitable place to do business, although not an easy place. So, government has given it top priority to make it an easier place to do business," he said, adding that "steps are being taken at various levels including at individual private sector project levels, on bank NPA front, on land acquisition and at state levels," he said.

 

According to him, government also needs to increase its spending on infrastructure, for which is needs to cut subsidies and lower many other expenditure.

 

"We have also taken steps for further liberalisation of FDI regime and many changes are being made in financial markets to allow foreign investors to directly participate in our markets. The revival of corporate bond market is also a key focus area," Joshi said.

 

He also noted that there are also efforts to bring in reforms in public sector banking space to address concerns like NPAs.

 

Global rating agency S&P today raised India's outlook to stable from negative after two-years, but has retained the rating at 'BBB-'.

 

The agency also said that the rating could be raised if the economy reverts to a real per capita GDP trend growth of 5.5 per cent per year.

 

Related opportunities
  • Cosmetics & Beauty Product Stores
    About Us: Founded in 2002, in India, KAMA Ayurveda is a..
    Locations looking for expansion Delhi
    Establishment year 2002
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • CAD/CAM/CAE & Multimedia
       About Us : Frameboxx Animation & Visual Effects offers skill-based curricula..
    Locations looking for expansion Maharashtra
    Establishment year 2008
    Franchising Launch Date 2008
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Cosmetics & Beauty Product Stores
    Gulnare Skincare offers skin care solutions for the socially conscious...
    Locations looking for expansion Haryana
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 270
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Quick Service Restaurants
    About Us: Doner & Gyros is a casual fast food restaurant..
    Locations looking for expansion Delhi
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts