Young, new firms report more favourable environment: Niti

Young and new firms report a much more favourable environment and fewer obstacles today than before, a Niti Aayog report has said.

The report, Ease of Doing Business: An Enterprise Survey of Indian States, which was released yesterday, pointed out that start-ups formed post 2014 have reported a better regulatory environment than others.

Prepared jointly by the Niti Aayog and IDFC Institute, the report said it is today 20 per cent faster for young firms to set up new businesses.

According to the report, nine different states are leading in different regulatory areas and firms say the construction permit process is much faster than what was reported in the World Bank Ease of Doing Business report.

"High growth states are those that also have better regulatory environment," it noted.

The report also pointed out that the average time taken for starting a business is 87 days for manufacturing startups relative to 117 days for manufacturing firms other than startups.

The survey covered more than 3,000 firms in 23 manufacturing categories in all states and Union Territories except Arunachal Pradesh, Mizoram, Andaman and Nicobar and Lakshadweep.

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