Changing Perception of Doing Business in India: a Shared Vision of Stakeholders

Abstract

India has shown significant improvement the business sector which reflects in the Ease of Doing Business Index rank India was able to achieve in the year 2018. The World Bank placed India at the 77th rank in this index. This study is aimed at understanding the business environment in India, the Ease of Doing Business Index of India, and all its sub-indexes. This study also contains a survey based analysis of the Doing business Index and Growth of businesses in India. The sample size consists of 100 individuals (47 females and 53 males). The survey form was prepared specifically for this research study. The data was analysed using ANOVA and regression functions on the basis of Education, Occupation, Gender, Code of Ethics and the Facilities favourable for the business sector in India, and a model was prepared with the help of SEM-PLS software. The findings of this study suggest that the improvement in India’s rank of the Ease of Doing business index was due to 2 major parameters i.e. the Dealing with Construction Permits Indicator and the Trading across the Borders indicator. Major findings of the study through the survey based analysis are – 3 indicators are statistically significant based upon the gender wise analysis, 2 indicators are significant based upon the education wise analysis and only one indicator is significant based upon occupation wise analysis. The model generated through the SEM-PLS model suggest that facilities are absolutely necessary for the growth and development of the business sector in India and to further improve the Ease of Doing Business index.