Indian bureaucracy is the worst in Asia with a 9.21 rating out of 10, according to a report by a prestigious consulting firm based in Singapore.
India fared worst than Vietnam (rated at 8.54), Indonesia (8.37), Philippines (7.57) and China (7.11), said the report released on Wednesday by Hong Kong-based Political & Economic Risk Consultancy Ltd.
Singapore remained the best with a rating of 2.25, followed by Hong Kong (3.53), Thailand (5.25) Taiwan (5.57), Japan (5.77), South Korea (5.87) and Malaysia (5.89).
The report said India’s inefficient bureaucracy was largely responsible for most of the biggest complaints that business executive have about the country.
The complaints included inadequate infrastructure and corruption, where officials were willing to accept under-the-table payments and companies were tempted to pay to overcome bureaucratic inertia and gain government favours, the report claimed.
The report also highlighted onerous and fickle tax, environmental and other regulations that could make business in India “so frustrating and expensive”.
12 Asian countries and their bureaucracy ratings (from worst to best).
- India (9.21)
- Vietnam (8.54)
- Indonesia (8.37)
- Philippines (7.57)
- China (7.11)
- Malaysia (5.89)
- South Korea (5.87)
- Japan (5.77)
- Taiwan (5.57)
- Thailand (5.25)
- Hong Kong (3.53)
- Singapore (2.25)
Opportunities for Indian Manufacturers in ASEAN
Indian exports largely mirror those of ASEAN states, such as rice, electrical equipment, and clothing and accessories. However, there are still sectors where Indian exporters can potentially exploit market needs – wheat exports, the digital economy, and healthcare.
The economic partnership between India and the Association of Southeast Asian Nations (ASEAN) has continued to strengthen since the economic relationship began in 1992 and with the ASEAN-India Free Trade Agreement (AIFTA) coming into effect in 2009.(more…)
India, ASEAN Agree to Review FTA Scope, Address Uneven Market Access
Chief among India’s concerns is that Indian exporters have been denied a level playing field in the Southeast Asian market. Moreover, New Delhi believes that China has taken undue advantage of the ASEAN-India FTA (AIFTA) due to weak rules of origin.
Subscribe via Email
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...