INSUBCONTINENT EXCLUSIVE:
PM Narendra Modi has targeted a spot in the top 50 in World Bank's ease of doing business list.China is closing the gap with its chief
economic rival the US as a hassle-free place to do business.In the World Bank's annual ranking of bureaucracy-busting economies, New
Zealand again claimed the top spot after making it cheaper to set up a company
But China, as well as India, vaulted up the rankings with wide-ranging reforms designed to give businesses and entrepreneurs fewer
headaches.The Doing Business 2019 report showed a new order emerging near the top: Currently locked in a trade war with China, the US was
one of the few countries where creating and running a business grew more wearisome
The UK, negotiating an exit from the European Union, also lost ground
It's now easier to do business in the former Soviet republic of Georgia than in Britain or America.Singapore and Denmark once again
rounded out the top three slots
There was no shift either at the bottom
There remains only one place where it's tougher to do business than Venezuela and Eritrea: Of 190 economies the World Bank ranked, Somalia
again came last.(: In World Top 20 Of GDP Growth Share, Good News For India - Report)What Was MeasuredThe 16th edition of the flagship
report assessed the ease and difficulty of almost every facet of operating a business, from incorporating a new entity and getting a
building permit to turning on the power.Highs and LowsNew Zealanders can set up a business in a few hours
In Lao PDR, it takes 174 days
Slovenia is the cheapest place to get a business up and running
Afghanistan improved its score more than any other country after beefing up protection for minority investors
China slashed electricity-connection times from close to 150 days in Beijing and Shanghai to little more than 30.AsiaChina and India were
Indian Prime Minister Narendra Modi has pledged to make it easier to do business and has targeted a spot in the top 50
The nation jumped to 77th position from 100th place last year after slashing border compliance times
China leaped to 46th from 78th to break into the top 50 for the first time.EuropeThe region accounted for half the slots in the top 10
Georgia hopped over the UK and the US to claim sixth position
Along with New Zealand, Georgia requires just one procedure to start a business, the least worldwide
Gains by Georgia and Norway pushed the UK down two places to ninth.Middle East and North AfricaThe region continues to trail on gender
issues, with barriers for female entrepreneurs in 14 economies, the report said
The United Arab Emirates, in 11th place, is the Middle East's sole entry in the top 20.USThe US slipped to eighth from sixth as it ceded
ground to Georgia and Norway
The US and Korea were the only countries in the top 10 with a lower score than last year
Among the biggest hurdles in the US were the volume of red tape involved in starting a business and delays connecting to the grid.
