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India fared worst than Vietnam (rated at 8.54), Indonesia (8.37), Philippines (7.57) and China (7.11), said the report released today 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".
It said dealing with court system in India was an unattractive option for companies, and would be best to avoid it.
The bureaucrats were rarely held accountable for wrong decisions and it would be extremely difficult to challenge them when there were disagreements, it said.
"This gives them (bureaucrats) terrific powers and could be one of the main reasons why average Indians as well as existing and would-be foreign investors perceive India's bureaucrats as negatively as they do," said the report.
But there were plus points when India was compared to countries within the economic development group.
In the 2011-12 Global Competitiveness Report of the World Economic Forum, India ranked behind China but ahead of Russia and Brazil for the burden of government regulations as well as for the burden of customs procedures.
India was also second to Brazil but well ahead of China and Russia for the quality of regulation and supervision of the securities exchange, said the report.
India was also better than Brazil, Russia and China as the fastest place to set up a new business and to deal with construction permits, and was the second fastest place to deal with export and import procedures, the report said.
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Yes, I give an example. My epf accumulation have been transfered to another people account no in 2010 without my knowledge. I have written apllication many times and visited Delhi EPF office many times but no one is hearing. Yesterday I have also visited but they have denied to work.
This company PERC is run and operated by a SINGLE man: Robert Broadfoot. Robert Broadfoot is everything - President, Vice-President, Secretary, typist! His PERMANENTLY praises Singapore, and has negative comments on many others. No peer reviews, no researchers, no nothing. How can Indian Express publish such Press Releases?
Indian-Bureaucracy should not be judged too harshly!It is intended to accomadate 50% backwards: Infact in the name of filling Back- Log the percentage must have reached more than 70%. So many people are recruited for causes other than work involved.It is actually a Choultry providing shelter to many!It is really a wonder that it appears to be working!
Even Indian citizen and all good business houses felt the same. Deaf and dumb Government is not taking any step to improve as they do not have time to work as only concentrating on how they can save their Government.