India among worst countries to do business in

With the Western countries experiencing economic slowdown, investors are looking at emerging markets.

But bureaucratic rules and regulations in the developing countries are making investment decisions more difficult.

Let us take a look at 10 countries, including India, where the business environment is far from friendly.

Click NEXT to see how India fares...

India

Investors cite corruption as the biggest problem in India.

Getting a permit or contract, especially in the real estate sector, is cited as another major hurdle by businessmen.

NEXT to see rest of the countries...

Venezuela

Venezuela is the most difficult place to do business. The South American nation faces huge problems due to its tax payment process.

Companies in Venezuela spend 864 hours per year on payment of taxes, which is two times more than the time taken in Caribbean and other parts of Latin America.

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Ukraine

Ukraine stands second in the list of worst countries to do business. It has strict tax payment formalities, construction authorisation and electricity access procedures are cumbersome.

It takes 27 days to pay taxes and 57 per cent of profits go into taxes.

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Algeria

Those planning to start a business in Algeria face a lot of problems, such as getting access to electricity, registration of property and filing taxes.

It takes around 48 days to register property and six months to get an electricity connection.

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The Philippines

Resolving bankruptcy in The Philippines takes around six years, whereas it is less than two years in most European countries.

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Nigeria

Political turmoil, conflicts combined with problems in getting electricity connection, permits and registering property are cited as major issues in the country by businessmen.

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Indonesia

Getting access to electricity in the world's fourth most populous nation takes 20 days more than other countries in the Asia-Pacific region.

The infrastructure is not fully developed and there are only five international airports.

Around 15 million family units have no access to electricity.

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Brazil

Companies in Brazil spend 2,600 hours in filling tax forms.

The World Bank estimated that the total tax paid by companies is more than 67 per cent, which is 20 per cent more than other South American countries.

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Russia

Shortage of electricity and lack of cross-border trading has been cited by businessmen as major problems in Russia.

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Argentina

Getting a construction permit is a major problem in Argentina.

It takes around a year to get a permit, which more than any other Latin American country.

It takes 26 days to start a business, which is twice more than most Western countries.