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Among 30 developing countries, India now ranks at Number 2 position in <a href="http://www.businessinsider.in/searchresult.cms?query=ease+of+doing+business&amp;sortorder=effectivedate">ease of doing business</a> index. 
 As per a study, ‘2016 <keyword id="451693" type="ORGANIZATION" weightage="20" keywordseo="Global-Retail-Development-Index">Global Retail Development Index</keyword> (GRDI)’, which ranks top 30 developing countries for <a href="http://www.businessinsider.in/searchresult.cms?query=retail+investment&amp;sortorder=effectivedate">retail investment</a> worldwide, India jumped 13 places up at number two post. 
 
The study, which is topped by China, also took <a href="http://www.businessinsider.in/searchresult.cms?query=GDP&amp;sortorder=effectivedate">GDP</a> growth and better clarity regarding <a href="http://www.businessinsider.in/searchresult.cms?query=FDI&amp;sortorder=effectivedate">FDI</a> regulations into considerations and these have helped India achieve a second ranking. 
 "India's strong ranking reflects foreigner retailers' increased optimism in its retail market and its vast growth potential. India has relaxed several key Foreign Direct Investment (<keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword>) regulations in single-brand retail and this has paved the way for multinational firms to enter the market," said Debashish Mukherjee, a partner with A T Kearney and co-head of the Consumer Industries &amp; Retail Products Practice for India and Southeast Asia. 
 
According to A T Kearney, a London-based business consultancy, India's retail sector has expanded at a compound annual growth rate of 8.8 per cent between 2013 and 2015, with annual sales crossing the USD 1 trillion mark. 
 
India has also become the world's fastest growing economy. That coupled with a large population base and the easing of FDI regulations in the sector has made it an even more attractive market, it said in the ranking. 
 
"We expect to see e-commerce to propel India's growth and make it a more attractive proposition. However, there are some challenges as well. India remains a challenging and complex market for foreign retailers, where understanding dynamics at the state level is important," Mukherjee said. 
 
(Image: Thinkstock)

India is now Number 2 in ease of doing business index

India improved its ranking in <a href="http://www.businessinsider.in/searchresult.cms?query=ease+of+doing+business" target="_BLANK￿￿￿￿">ease of doing business index</a> and jumped 12 ranks to 130th spot, the <a href="http://www.businessinsider.in/searchresult.cms?query=world+bank" target="_BLANK￿￿￿￿">World Bank</a> said it is not impossible for the country to be in the top 100. 
 <keyword id="6354424" type="ORGANIZATION" weightage="20" keywordseo="World-Bank">World Bank</keyword> Chief Economist and Senior Vice President Kaushik Basu said if India continues with its economic reforms, like the <a href="http://www.businessinsider.in/searchresult.cms?query=goods+and+services+tax" target="_BLANK￿￿￿￿">Goods and Services Tax</a>, and erases bureaucratic cost of doing business, it would not be impossible for India to rank in top 100. 
 
"There are countries which have moved 30-40 places at one go, but usually these are small countries. For a big economy like India, it is difficult, but from what we have seen thus far, it is not impossible," Basu. 
 
While Basu lauded the reforms in India and said India had a reasonably substantial movement in the first year itself, he felt the country has a long way to go. 
 
"There is a lot of serious interest in India to cut down bureaucratic costs of doing business for small and medium-sized firms. It is important however to recognise that this is just a start. There is still a long way to go," he said. 
 
So what are the areas where India needs improvement? 
1. According to Basu, India needs to trim transactions costs and the bureaucratic hurdles it places on individuals and small enterprises. 
2. The top economist said India required better infrastructure-roadways, railways and ports and the improvement, which has begun, should be continued. 
3. Basu says India needs inclusiveness as it is a diverse society and policies should be there so that all groups feel included. "In the World Bank's table of growth projections for major economies in the world India is topping the list for this the next year. Something similar is true of IMF projections. I do not think this has happened before. The <keyword id="6356076" type="UNKNOWN" weightage="20" keywordseo="indian-economy">Indian economy</keyword> has some deep strengths and must continue to build on them," he said. 
 
Basu also weighed on the importance of GST. 
 
"If, India can move so that by next year, after the budget, you have a GST in place, which can make a very big difference. It will not be a perfect GST to start with but it should be possible to make amendments and improve it over time," he said. 
 
(Image: Thinkstock)

Here’s why World Bank thinks India can make it in top 100 of ease of doing business index

New Delhi, Jan 7 () The Commerce and Industry Ministry is likely to release the next index to rank states and union territories (UTs) in terms of ease of doing business in March, a senior official said.
 "It will be released in end of February or March. Due to elections, the release got delayed," the official said.
 The exercise is aimed at triggering competition among states to improve business climate in order to attract domestic and global investors.
 State governments are taking several steps such as setting up single window system for approvals to improve ease of doing business.
 The parameters include areas such as construction permit, labour regulation, environmental registration, access to information, land availability and single window system.
 The Department for Promotion of Industry and Internal Trade (DPIIT) in collaboration with the World Bank conducts an annual reform exercise for all states/UTs under the Business Reform Action Plan (BRAP).
 In the last ranking released in July 2018, Andhra Pradesh topped the chart. Telangana and Haryana were at the second and third positions, respectively.
 Others in the top ten were Jharkhand (4), Gujarat (5), Chhattisgarh (6), Madhya Pradesh (7), Karnataka (8), Rajasthan (9) and West Bengal (10).
 The ranking is based on a combined score consisting of reform evidence score that is based on evidence uploaded by states/UTs and feedback score that is based on response garnered from actual users of services provided to businesses.
 The report to be released this year will rank states for 2018.
 In the World Bank's latest 'Doing Business' report, India's position improved to 63rd from 77th out of 190 economies.
 The Commerce and Industry Ministry has prepared a blueprint to further improve India's ranking in the World Bank's ease of doing business index with a focus on six parameters, including enforcing contracts and starting a business.
 The government is targeting to take India among top 50 in the index in coming years. RR
RVK

Next ranking of states for ease of doing business likely to be released in Mar

New Delhi, Jan 5 () Following are the top business stories to be released on Sunday:-
 
BIZ-SWISSBANKS-TRUSTS
Black money probe: Tax haven trusts come under scanner for Swiss bank accounts
New Delhi/Berne: A number of trusts set up in overseas tax havens using a complex maze of entities have come under the scanner of Indian and Swiss authorities for suspected tax evasion by parking of illicit funds in Switzerland-based banks, as per notices issued to those entities.
 
BIZ-FINMIN-BANKS
Govt unlikely to announce capital infusion for PSU banks in Budget
New Delhi: The government is unlikely to announce capital infusion for the public sector banks (PSBs) in the upcoming Budget and will rather encourage them to expedite recovery of bad loans and raise funds from the market.
 
BIZ-UNLISTED COMPANIES
Govt plans quarterly, half-yearly fin statement reporting norm for unlisted cos
New Delhi: Unlisted companies might soon be required to submit their financial statements to the government on a quarterly or half-yearly basis, an official said.
 
BIZ-WORLDBANK-EASE-BUSINESS
World Bank's ease of doing biz: DPIIT focusing on 6 parameters to push India's ranking
New Delhi: The Commerce and Industry Ministry has prepared a blueprint to further improve India's ranking in the World Bank's ease of doing business index with a focus on six parameters, including enforcing contracts and starting a business, an official said.
 
BIZ-SMEV-FAME
Electric 2-wheeler makers learning to survive without subsidy,FAME II not worked:SMEV
New Delhi: Mass segment electric two-wheeler makers are learning to "live without government support" as FAME II scheme to promote electric mobility has not met its objective, according to industry body SMEV. MKJ MKJ

Business advisory

New Delhi, Nov 14 () The fourteen-day India International Trade Fair opened here on Thursday albeit with lesser availability of space this year owing to Pragati Maidan's ongoing make-over.
 Union Transport and MSME Minister Nitin Gadkari inaugurated the fair and suggested that the ITPO (India Trade Promotion Organisation) should explore public-private-partnership model to build 30 to 40 mega exhibition-cum-convention centres across the country.
 "By supporting government as a facilitator we can make atleast 30 to 40 centres like Pragati Maidan in the country. This country needs and the government's capacity is limited, budgetary constraints are there but this activity by supporting some government equity, we can make it economically viable," Gadkari said adding that this type of activity is going to create more employment opportunities.
 Besides, Gadkari highlighted that the World Bank, ADB and KfW are ready to provide a credit line for MSMEs at a low interest cost and, he wants to provide this credit line to the poor and economically backward entrepreneurs in backward areas.
 Organisers of the fair ITPO expressed confidence that the redevelopment of Pragati Maidan into a state-of-the-art integrated exhibition cum convention centre (IECC) shall be completed before the end of next year.
 The ITPO is the nodal agency under the administrative control of the Commerce Ministry entrusted with the redevelopment of Pragati Maidan.
 In his address, ITPO CMD L C Goyal gave an assurance that the IITF 2020 would be five times bigger than the scale on which the fair is being held this year.
 "I am quite confident that before the end of next year would deliver this project (IECC)," Goyal said.
 Several countries, including Australia, Iran, the UK and Vietnam will participate in the 14-days fair.
 The theme for the 39th edition of the fair (November 14-27, 2019) is 'Ease of Doing Business' inspired by the unique achievement of India for rising to the 63rd rank on the World Bank's Ease of Doing Business Index from 142nd rank in year 2014.
 This year the status of 'Partner Country' has been accorded to 'the Islamic Republic of Afghanistan' and 'the Republic of Korea' will be the 'Focus Country'.
 Bihar and Jharkhand will be the focus states in this edition of the fair. Entry tickets for business days per person will be available for Rs 500 and season ticket for Rs 1,800.
 For all visitors during public days (November 19-27, 2019), ticket charges will be Rs 60 (adult) and Rs 40 (child) on working days and on Saturday or Sunday or Public Holiday the tickets will be Rs 120 (adult) and Rs 60 (child). RSN SHW
SHW

India International Trade Fair opens with ease of doing business theme

New Delhi, Jan 13 () Gross leasing of office space increased by 25 per cent to an all-time high of 61.6 million sq ft across nine major cities during last year on better supply and demand conditions, according to property consultant CBRE. 
Earlier, Knight Frank India reported 27 per cent jump in office space leasing in 2019 at record 60.6 million square feet gross across eight cities, while JLL India had said that net office space leasing rose by 40 per cent last year across seven major cities to an all-time high of 46.5 million sq ft.
 "The office sector remained buoyant in 2019, driven by demand from global multinationals, domestic firms and a healthy supply infusion in cities such as Hyderabad and Bangalore. By the end of 2019, gross leasing activity crossed 60 million to touch a historic high of 61.6 million sq ft, growing by more than 25 per cent year-on-year," CBRE said in a report released Monday.
Bengaluru, followed by Hyderabad, National Capital Region (NCR) and Mumbai dominated office leasing on an annual basis, together accounting for almost 75 per cent of the overall leasing of office space. Absorption of space increased across all cities except Kochi, it added.
Anshuman Magazine, Chairman &amp; CEO (India, South East Asia, Middle
East &amp; Africa), CBRE said, "in 2019, policy reforms across various sectors acted as a business sentiment booster, leading to tremendous improvement in India's Ease of Doing Business Ranking. According to the World Bank, India ranks 63rd among 190 countries on the Ease of Doing Business index".
 In the coming years, the real estate sector is expected to offer vast development and investment opportunities as the Indian economy transitions and its workforce expands, he added.
According to the data, the share of the technology sector in overall space take-up rose from about a third in 2018 to almost 40 per cent, with overall leasing by such firms rising by more than 45 per cent on an annual basis. 
The share of research, consulting and analytics firms has increased to 5 per cent in 2019 from 4 per cent in 2018. The collective share of sectors such as engineering and manufacturing, BFSI, e-commerce and research, consulting &amp; analytics, dropped from 36 per cent in 2018 to 31 per cent in 2019. 
Meanwhile, corporates continued to opt for flexible spaces, with the share of the segment rising from 12 per cent in 2018 to about 14 per cent last year.
In 2019, supply addition rose by about 50 per cent year-on-year to touch 52.4 million sq ft. 
"The growth in supply additions in 2019 was a result of buildings receiving much-awaited occupation certificates across cities, as well as pre-commitments made in the prior years which came to fruition through 2019. The supply is likely to normalise in 2020, resulting in absorption growth in the coming year to plateau and be in line with the supply," said Ram Chandnani, MD (Advisory &amp; Transaction Services), India, CBRE South Asia. MJH DRR

Gross leasing of office space up 25 pc in 2019 at record 61.6 mn sq ft in 9 cities: Report

New Delhi, Jan 21 () The FMCG industry is expected to be 'stable' in 2020 with a growth of around 9 to 10 per cent, helped by several macroeconomic factors, including expectations of inflation going down and proactive government policies, according to a report.
 The FMCG industry registered a growth of 9.7 per cent in 2019, which included e-commerce, said data analytics firm Nielsen in the report titled 'India FMCG Growth Snapshot'.
 The full year 2020 forecast is stable at 9-10 per cent, it added.
 "2019 has been a tough year for the FMCG industry with over four point decline, but we do see it stabilising in the last quarter of the year... However, 2020 offers a stable outlook for the industry arresting the 2019 decline," Nielsen Global Connect South Asia Zone President Prasun Basu said.
 In the fourth quarter (October-December) of 2019, the FMCG industry reported a sales growth of 6.6 per cent and it was 7.3 per cent with e-commerce channels, which according to the report indicates an "arrest" as against sharp slowdown witnessed in the previous quarters.
 For the full year 2019, FMCG growth slowed down to single digit in 2019. It was led by the rural market, and growth slipped to nearly half that in the previous year.
 Comparing zones over the one-year period, while northern and western regions were the most affected, the southern region sustained its growth levels, it added.
 Inflation in December 2019 touched a 5-year high of 7.3 per cent. The trajectory would be on a declining trend, and is expected to end in the 4-5 per cent range for this year, the report said.
 Additionally, rural inflation has touched and is at similar levels with urban inflation on account of rising food prices, it added.
 With new crops coming in and onions supply stabilising, inflation is expected to go down in coming months, the report said.
 Currently, continuing efforts to boost consumption and growth, the government has announced a USD 15-billion infrastructure pipeline for the next five years, it added.
 With the third and final tranches for the year of the Pradhan Mantri Kisan Yojana being released, USD 1.7 billion is expected to flow into the economy, the report said.
 "The Budget 2020 is also expected to bring respite to the masses through tax cuts and additional benefits and may be a reason for cheer," it added.
 Other factors that could impact trajectory of FMCG growth is improvement in India's global ranking in the World Bank's 'Ease of Doing Business' Index from 77 to 63, coupled with proposals to allow higher FDI in select sectors, may lead to higher amount of investments coming into the country, the report said.
 Disposable income, consumer sentiment and thereby the trajectory of FMCG growth would also be impacted by factors such as telecom sector having an overhang on the larger growth picture, it added.
 "With BS-VI norms coming into effect in 2020, the auto sector may start seeing greater stability," the report said.
 Macroeconomic policies coupled with inflation-GDP trajectory, manufacturer actions and consumer sentiment are expected to lead to money in the hands of consumers, thereby fuelling consumption, Nielsen South Asia Data Science Lead Nitya Bhalla said.
 "Our forecasts for Q1'20 is 8-9 per cent and for the full year 2020 is 9-10 per cent, similar to the year gone by," she added. AKT KRH HRS

FMCG industry to grow 9-10 pc in 2020: Nielsen

<ul><li><keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> just raised its outlook on India to “overweight” on high foreign fund inflows. </li><li>The high possibility of a <keyword id="6354642" type="PERSON" weightage="20" keywordseo="Modi">Modi</keyword> victory as well as monetary easing by the Reserve Bank of India (RBI), due to low inflation, has spurred foreign investor inflows, driving the rupee to a seven-month high. </li><li>A second term for the Modi administration would boost the likelihood of a stable government and policy continuity. </li></ul>It seems that the strong possibility of a re-election for the Modi administration in India’s <a href="https://www.businessinsider.in/voting-in-indias-2019-elections-will-run-from-april-11-to-may-19-and-the-results-will-be-out-on-may-23/articleshow/68344595.cms">upcoming national elections</a> has made at least one international bank confident about India’s short-term economic prospects. Goldman Sachs just raised its outlook on India to “overweight” on high foreign fund inflows, which have been driven by the prediction that Modi’s <keyword id="58687" type="ORGANIZATION" weightage="20" keywordseo="Bharatiya-Janata-Party">Bharatiya Janata Party</keyword> (BJP) will likely secure a majority in the general elections. It had <a href="https://www.moneycontrol.com/news/business/markets/goldman-sachs-lowers-india-rating-from-overweight-to-marketweight-2956961.html">downgraded </a>India to “marketweight” in September 2018 amid rising oil prices and a falling rupee. The high possibility of a Modi victory as well as monetary easing by the Reserve Bank of India (RBI), <a href="https://www.businessinsider.in/rbi-policy-update-cuts-interest-rate-citing-low-inflation-and-it-may-boost-growth/articleshow/67880230.cms">due to low inflation</a>, has also spurred foreign investor inflows, driving the rupee to a <a href="https://www.businessinsider.in/the-rupee-just-clocked-a-seven-month-high-amid-a-surge-in-buying-from-foreign-investors/articleshow/68476022.cms">seven-month high</a>. “The (stock market) rally has been supported by revival in FII buying ahead of elections,” the Goldman Sachs report said. “Market expectations of a potentially stable government have risen over the past few weeks spurring foreign buying. FII have net bought US$4.5 bn in India over the past 1 month.” A second term for the Modi administration would boost the likelihood of a stable government and policy continuity as foreign entities favour the continued emphasis of the government on economic reforms like the bankruptcy code and the single- indirect-tax regime. Last year, India jumped <a href="https://www.livemint.com/Politics/GwXhAdltCo1TCbRTAm5z0H/India-up-23-places-in-ease-of-doing-business-rankings.html">23 places to 77 </a>on the World Bank’s ease of doing business index. The year before that, it leapfrogged a record 30 countries to get <a href="https://www.livemint.com/Companies/icjVbgr3PteKYupZlzwOtN/India-jumps-to-100th-spot-in-World-Banks-ease-of-doing-busi.html">a ranking of 100 or below </a>on the index for the first time. The surge in Modi’s re-election chances is said to be due to the recent escalation of tensions with Pakistan in the aftermath of the Pulwama attack in mid-February. His image as someone who isn’t afraid of asserting India’s military might seems to be resonating with the masses. Most opinion polls predict a comfortable majority for the BJP, with the average number predicted at <a href="https://www.businessinsider.in/is-indias-2019-election-really-a-foregone-conclusion/articleshow/68423465.cms">276 out of 543 seats</a> in India’s lower house of Parliament. SEE ALSO: <a href="https://www.businessinsider.in/the-rupee-just-clocked-a-seven-month-high-amid-a-surge-in-buying-from-foreign-investors/articleshow/68476022.cms">The rupee just clocked a seven-month high amid a surge in buying from foreign investors</a> <a href="https://www.businessinsider.in/is-indias-2019-election-really-a-foregone-conclusion/articleshow/68423465.cms">Is India's 2019 election really a foregone conclusion?</a>

Goldman Sachs upgrades India citing Modi's improved chances of getting re-elected

<ul><li>On 11 October, the <keyword id="6354424" type="COMPANY" weightage="20" keywordseo="world-bank">World Bank</keyword> released its first ever <keyword id="318873" type="ORGANIZATION" weightage="20" keywordseo="Human-Capital">Human Capital</keyword> Index (HCI), which measures how well countries enable the development of their human resources. </li><li>Singapore topped the list while <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> came in at 115th, below Bangladesh, Nepal, Sri Lanka and Myanmar. </li><li>India’s Ministry of the Finance criticised the report, saying that its metrics were simplistic and that it hadn’t taken a number of government programmes into consideration. </li></ul>On 11 October, the World Bank released its first ever <a href="http://www.worldbank.org/en/publication/human-capital">Human Capital Index</a> (HCI), which measures how well countries enable the development of their human resources and how much they stand to lose in terms of GDP by foregoing investment in <keyword id="6354750" type="UNKNOWN" weightage="20" keywordseo="health">health</keyword> and <keyword id="6355445" type="UNKNOWN" weightage="20" keywordseo="education">education</keyword>. The goal of the report is to get finance ministers to think beyond short-term election cycles and focus more on children by allocating higher funds to healthcare and skill development. The World Bank hopes the index will become as popular as its Ease of Doing Business index. The HCI report assessed 157 countries on a number of indicators, ranging from child mortality, nutrition and stunting, average years of schooling and harmonised test scores. Each country was assigned a score from 0 to 1, with 1 denoting the best health and education outcomes possible. The list was led by Asian countries. Singapore came first, owing to the strength of its universal healthcare system, followed by South Korea, Japan and Hong Kong. Finland came fifth while the US came 24th. The bottom of the list was predominantly rounded out by African countries - Chad, South Sudan and Niger. Critics of the report said that it was an exercise in <a href="https://www.wsj.com/articles/world-bank-aims-to-shame-with-human-capital-ranking-1539267790">shaming developing countries</a> for not investing enough in people. India came in at a lowly 115th, even below the likes of its smaller neighbours Myanmar, Bangladesh, Sri Lanka and Nepal. The report predicted that children in India would only be <a href="http://databank.worldbank.org/data/download/hci/HCI_2pager_IND.pdf">44%</a> as productive in adulthood compared to a scenario where all their education and health requirements were met. As expected, the Indian government wasn’t happy with the results of the report. In <a href="http://www.pib.nic.in/PressReleseDetail.aspx?PRID=1549460">a press release</a>, the Ministry of Finance said that it had “serious reservations” about the way the index had been compiled. The finance ministry explained that the World Bank had failed to take into account the government’s various development initiatives like the Samagra Shiksha Abhiyan, which focuses on all 13 years of schooling and merges three separate public education schemes, and the recently-launched Ayushman Bharat health insurance programme. It also said that schemes like the Aadhar programme, the largest biometric identification scheme in the world, and the Pradhan Mantri Jan Dhan Yojana, which aims to give every unbanked citizen a formal bank account, had gone a long in way in enabling financial inclusion and social protection. The government also said that metrics of the HCI were “simplistic” and “ignorant of development realities” and that the data used to gauge the quality of education was outdated. The statement concluded on a defiant note with the government saying that it planned to ignore the index.

India has “serious reservations” about the World Bank’s new Human Capital Index, which ranked it 115 out of 157 countries

2018 proved to be a record year in India’s <keyword id="35603" type="PERSON" weightage="20" keywordseo="mergers">mergers</keyword> and acquisitions space. Led by <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>’s $16 billion purchase of a majority stake in homegrown e-commerce behemoth <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, deal volumes reached an all-time high of <a href="https://www.businessinsider.in/2018-was-a-big-year-for-mergers-and-acquisitions-in-india-here-are-the-top-deals/articleshow/67127132.cms">$125 billion</a> for the year, twice the amount seen in 2017. However, it was only one of the many <keyword id="6391790" type="UNKNOWN" weightage="20" keywordseo="deals">deals</keyword> struck in the year. There are many reasons why dealmakers are active in India, according to <keyword id="145332" type="PERSON" weightage="20" keywordseo="Sonjoy-Chatterjee">Sonjoy Chatterjee</keyword>, the chairman of <keyword id="6361649" type="COMPANY" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>’ Indian business. Size matters Firstly, India’s market dynamics call for consolidation. “Local companies are consolidating because they need capital and scale to run their businesses”, said Chatterjee. It’s getting harder and harder for smaller firms to compete against large multinationals, which is why inorganic growth is being pursued. In addition, higher competition is forcing companies to merge, especially in the telecom sector, as seen in the merger of Idea and Vodafone, in order to boost capital expenditure while keeping debt burdens manageable. “14 companies have been winnowed down to three, as one of India’s largest conglomerates, Reliance Industries, has set new market benchmarks for product and pricing,” Chatterjee remarked. Stressed out The problem of debt is not limited to telecom. Many companies have also been sent to the cleaners by the new Insolvency and Bankruptcy Code. “Recent changes to India’s bankruptcy law are forcing more companies that can’t repay their debts into the bankruptcy process”, Chatterjee said. This is resulting in an auctioning of assets and acquisitions of bankrupt companies, most notably in the <a href="https://www.businessinsider.in/indias-steel-industry-is-set-for-a-shakeup-after-arcelormittal-finally-emerges-as-the-winning-bidder-for-essar-steel/articleshow/66316447.cms">steel sector</a>. Old promoters have been ousted and that process is likely to continue as a huge pile of unpaid loans is still largely unresolved. Changing models As the smaller companies crumbled under the weight of competition, larger companies are looking to strengthen their portfolio by buying out peers. In December 2018, Hindustan Unilever, the Indian subsidiary of consumer goods giant Unilever, which is doubling down on its consumer health business through the acquisition of GlaxoSmithKline’s (GSK) key nutrition brands like Horlicks and Boost. Family-owned businesses shift strategy The new generation of leaders in family-owned businesses are changing tack and looking to enter completely new verticals. “With rising foreign investment flows leading to good valuations, several families are looking to exit their businesses and deploy capital in completely new areas” Chatterjee said. This can clearly be seen in the case of<a href="https://www.businessinsider.in/sale-one-of-indias-oldest-battery-brands-eveready-for-500-million/articleshow/67482195.cms"> Eveready</a>, a 114-year old company, the founding family of which is reportedly planning to sell their stake in. Even Ujjwal Munjal, the scion of the Hero Group which sells motorcycles, has commenced plans to <a href="https://www.businessinsider.in/ces-2019-munjal-grandson-from-the-hero-family-is-selling-ai-devices/articleshow/67469653.cms">sell AI devices</a> through an electronics subsidiary of the company. Sellers market Thirdly, Chatterjee feels that foreign investors have played a big part in the boom. Despite the <a href="https://www.livemint.com/Money/XvrfxeOgowt1zR38CXyDIK/FIIs-withdraw-nearly-Rs-1-trillion-from-Indian-capital-marke.html">volatility </a>in foreign portfolio investments, more and more institutional investors and private equity firms are shifting focus to India, especially its technology space which is coming into its own and has attracted the world’s largest tech firms, from Apple to Tencent. India’s growth trajectory significantly outweighs that of lagging China - India is expected to grow by 7.3% this year compared to China’s 6.2% - but also because of <a href="https://www.livemint.com/Politics/GwXhAdltCo1TCbRTAm5z0H/India-up-23-places-in-ease-of-doing-business-rankings.html">its improvement</a> in the World Bank’s Ease of Doing Business Index. These factors will likely persist through 2019 and keep deal street buzzing. Deal makers may stay wary of political uncertainties until the outcome of the election. However, given that most deals, especially the large ones, are driven by a long-term perspective, there is hope going forward too. SEE ALSO: <a href="https://www.businessinsider.in/2018-was-a-big-year-for-mergers-and-acquisitions-in-india-here-are-the-top-deals/articleshow/67127132.cms">2018 was a big year for mergers and acquisitions in India. Here are the top deals</a> <a href="https://www.businessinsider.in/indias-steel-industry-is-set-for-a-shakeup-after-arcelormittal-finally-emerges-as-the-winning-bidder-for-essar-steel/articleshow/66316447.cms">India’s steel industry is set for a shakeup after ArcelorMittal finally emerges as the winning bidder for Essar Steel</a>

Goldman Sachs’s India Chairman explains the country’s M&A boom

<ul><li>The incumbent <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> government in India led by the <keyword id="58687" type="ORGANIZATION" weightage="20" keywordseo="Bharatiya-Janata-Party">Bharatiya Janata Party</keyword> (BJP) has released election <keyword id="42763" type="PERSON" weightage="20" keywordseo="Manifesto">manifesto</keyword> 3 days before the first polling date. </li><li>As expected, the 2019 manifesto builds on a lot of pledges the government made in its interim budget announcement and on the campaign trail, especially with regards to rural distress, job creation and national security. </li><li>The manifesto - the first ever under Prime Minister Narendra Modi - comes a week after rival party Congress released its own, giving the BJP the chance to counter the opposition party’s promises, specifically NYAY, its minimum income support scheme. </li></ul>The incumbent Narendra Modi government, led by the Bharatiya Janata Party (BJP), has released its election manifesto 3 days before the first polling date. Speaking at the launch of the manifesto, Modi said that the government had made 75 proposals in line with India’s 75-year independence celebration in 2022, all of which would be implemented in a “time-bound” manner. As expected, the 2019 manifesto builds on a lot of pledges the government made in its interim budget announcement and on the campaign trail, especially with regards to rural distress, job creation and national security. The Prime Minister <a href="https://www.thehindu.com/news/national/pm-promises-farmers-income-doubling-by-2022/article24212508.ece">had already promised </a>to double all farmers incomes by 2022. Under the government’s already-announced PM Kisan Yojana, cash will be transferred to beneficiaries, which hold 2 hectares of land or less, in three installments of ₹2000 each every year, culminating in a total payment of <a href="https://www.businessinsider.in/as-expected-the-modi-administration-just-launched-a-direct-benefit-transfer-scheme-for-the-nations-farmers/articleshow/67786710.cms">₹6,000 per year</a>. Under pressure after rival Congress’ income support scheme, the BJP has extended this benefit to all farmers, as opposed to only smallholding farmers, which will significantly increase the outlay of the scheme. In addition to the farmer handouts, the BJP outlined a pension scheme for informal sector workers in its interim budget. The scheme proposes a monthly pension of ₹3,000 above the age of 60. It is also offering tax breaks for workers in the formal sector that earn less than ₹500,000 a year. In another play towards farmers, the manifesto promised interest-rate free credit cards loans less than ₹100,000 to all farmers. The BJP also plans to mobilise ₹100 trillion of investments into infrastructure within the next five years and improve road connectivity between cities by doubling the amount of national highways It also wants to ensure that every Indian doesn’t live more than 5 kms away from a banking outlets and push India to a top 20 position in the World Bank and IMF’s Ease of Doing Business index from current level <a href="http://pib.nic.in/newsite/PrintRelease.aspx?relid=184513">of 77</a>. The policy document also reiterated the BJP’s commitment to implementing a uniform civil code across all Indian states and revoking <a href="https://www.thehindu.com/news/national/what-is-article-35a/article19567213.ece">Article 35A</a> of the Constitution, which it explains went against the interests of non-permanent residents of Jammu &amp; Kashmir as t conferred special rights on residents especially in the acquisition of property and eligibility for public sector jobs. This manifesto lays down the foundation of a continuing government, finance minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> said. The manifesto announcement by party president <keyword id="6355521" type="PERSON" weightage="20" keywordseo="amit-shah">Amit Shah</keyword> started with a rundown of the Modi administration’s purported achievements over the past five years - a crackdown on corruption and black money, strikes against terrorists, a reining in of prices, the construction of 80 million toilets etc in line with <a href="https://www.businesstoday.in/current/economy-politics/what-promises-did-the-bjp-make-in-its-2014-manifesto/story/334812.html">its 2014 manifesto</a>. The manifesto had 75 pledges to celebrate 75 years of India’s independence in 2022. These included the doubling of farmers incomes, the continued strengthening of the armed forces and border security patrols, the passage of the contentious Citizenship Amendment Bill, the construction of the also-contentious Ram Mandir and the expansion of its Ayushman Bharat health insurance scheme. The manifesto - the first ever under Prime Minister Narendra Modi - comes a week after rival party Congress released its own, giving the BJP the chance to counter the opposition party’s promises, <a href="https://www.businessinsider.in/lok-sabha-elections-2019-can-congress-nyay-scheme-end-indias-poverty/articleshow/68577960.cms">specifically NYAY,</a> its minimum income support scheme. SEE ALSO: <a href="https://www.businessinsider.in/congress-manifesto-released-plans-for-separate-farmers-budget/articleshow/68684769.cms">India’s Congress party proposes a separate farmer’s budget and single rate GST in its election manifesto</a> <a href="https://www.businessinsider.in/lok-sabha-elections-2019-heres-a-comparison-of-the-income-sops-offered-by-the-bjp-and-the-congress/articleshow/68576480.cms">Here’s a comparison of the election sops offered by the BJP and the Congress</a>

Narendra Modi's election manifesto packs larger doles and a rosy narrative

<a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi&amp;sortorder=effectivedate">Indian Prime Minister Narendra Modi </a>wants to move up on the <a href="http://www.businessinsider.in/searchresult.cms?query=ease+of+doing+business&amp;sortorder=effectivedate">ease of doing business index</a> and is easing norms for the same. 
 
In the latest move, you will be able to start a business in India in just six days. At present, a new venture needs at least 26 days to start. In order to start a business as soon as possible, the government has also trimmed the number of procedures from 12 to only six. 
 
While you need to fulfill 12 procedures in Delhi, the number can go up to 14 in Mumbai. 
 
India still has a long way to go when compared to other countries. For instance, in New Zealand, you need just half a day to start a business, while in Singapore it takes about 2.5 days to start a company. In the US it takes about 5.6 days and in the United Kingdom it takes about 4.5 days. 
 
Out of the 190 countries in the list, India Ranks 130 overall in the <a href="http://www.businessinsider.in/searchresult.cms?query=world+bank+ease+of+doing+business&amp;sortorder=effectivedate">World Bank Ease of Doing Business Report</a> and ranks 155 in terms of starting a business. New Zealand and Singapore top the list. 
 "As per <keyword id="6354424" type="ORGANIZATION" weightage="20" keywordseo="World-Bank">World Bank</keyword> it takes 26 days to start a business in India. Our targis to bring it down to 6 days by the end of March. This is the kind of dramatic change we want to," Department of Industrial Policy and Promotion, Secretary, Ramesh Abhishek told EconomicTimes.com. 
 
So, if you want to give flight to your entrepreneurial dreams, you need to complete these 6 procedures: 
1. Incorporate a company using SPICe Form. 
2. Obtain PAN and TAN though a single integrated form. 
3. Register with EPFO and ESIC. 
4. Open a Bank account. 
5. Register with VAT and Profession Tax; online and real time. 
6. Register with Shops and Establishment Act.

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