India moved up 30 places in the latest World Bank ease of doing business rankings. Yet, starting and running a business here remains an ordeal, signalling the need for bold regulatory reforms
IN 2015, NAKUL KHANNA LEFT A CUSHY JOB AT GOOGLE TO FOCUS ON three of his start-ups—Instago, an aggregator app that lists taxi services, InstaClean, a laundry service, and another that makes customised T-shirts. He tasted initial success when Instago had over 1,000 downloads in the first two weeks of its launch. Khanna, however, needed funds to improve the app and approached the Department of Science and Technology under the Union government, which, he heard, allowed a grant of Rs 15 lakh for start-ups. After a year’s wait, he was extended just Rs 75,000, which he politely refused. “It was a year wasted,” says Khanna, now a student of business administration at the Kellogg School of Management in the US. “It is not just enough that the Indian government talks of funds. It needs to take action to dispense them.” At Kellogg, Khanna, 26, believes he will be able to scale up his dream project with a $10,000 (around Rs 6.5 lakh) fellowship. While it’s credible that India climbed 30 places to reach 100 in the Doing Business 2018 report—the World Bank’s latest ease of doing business rankings for 190 countries—the fact is it’s still cumbersome to set up and do business here.
This story is from the December 11, 2017 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 11, 2017 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
THROW ME ANOTHER TEQUILA, SHEILA
Move over tequila sunrise, it's time to sunset into the tequila world at the swanky new Agave Bar at Aasmana at the Ritz-Carlton Pune
INDUS CREED
The freshly minted Ziya at the Oberoi Gurgaon, simply 'shines', much like its name implies.
THE GREEN MILE
SUSTAINABLE MOBILITY HAS BEEN AN INTEGRAL PART OF VOLVO'S PAST AND THE CURRENT PUSH FOR ELECTRIFICATION IS SHAPING ITS FUTURE
WALK ON THE WILD SIDE
Live your version of Man vs Wild in the Australian Outback. Kakadu National Park offers unrivalled natural wonders, more crocs and birds than humans and secrets and legends of the oldest living culture on earth.
All that Sparkles
FINE LIVING - Style, Hot Launches, Books, Watches
TO THE MANOR BORN
OFFERING AN INTIMATE STAY AND SUPERLATIVE SERVICE, KINWANI HOUSE IN RISHIKESH IS QUITE POSSIBLY THE MOST STUNNING BOUTIQUE HOTEL OPENING OF THE YEAR
WHERE FLAVOURS CURRY FAVOUR
WITH DOLLOPS OF AUTHENTICITY, SMEARED WITH REAL FLAVOURS AND OLD WORLD INDIAN HOSPITALITY, BUNGALOW, IN NEW YORK CITY, STIRS UP PASSIONS WITHOUT THE HOOPLA AND HISTRIONICS.
Old meets Bold
Longines Conquest Where vintage charm meets modern precision
The Devil is in the Details
One of the rare watchmaker-turned-CEOs, Breguet's Lionel a Marca has a sharp eye for details
THE NARRATIVE OF DESIRE
HAUTE JOAILLERIE STYLES THAT ARE ALL SET TO SHINE FOR THE UPCOMING SEASON OF FESTIVITIES