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Best cities in India to start a business; Delhi, Patna top
India’s Silicon Valley Bangalore turns out to be the worst place to start a business in India, according to World Bank survey. Countries financial capital Mumbai, too, does not feature in the top 10 list.
World bank has conducted survey across 17 cities to study where is it easy and tough to start a business. The survey identifies the bureaucratic and legal hurdles an entrepreneur must overcome to incorporate and register a new firm.
It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income (GNI).
Let’s take a look at 17 cities and how easy or difficult it is to start a business in them.
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Best cities in India to start a business; Delhi, Patna top
Bangalore
Rank: 17
Number of procedures required: 13
Time: 40 days
Bangalore is considered to be the Silicon Valley of India as it has the maximum IT companies. With an economic growth of 10.3 per cent, the city is the second fastest growing major metropolis in the country.
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Best cities in India to start a business; Delhi, Patna top
Kochi
Rank: 16
Number of procedures required: 13
Time: 41 days
Kochi is the commercial capital of Kerala. In recent years the city has witnessed heavy investment making it one of the fastest-growing second-tier metro cities in India.
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Best cities in India to start a business; Delhi, Patna top
Ranchi
Rank: 15
Number of procedures required: 12
Time: 38 days
Ranchi is the capital of the Jharkhand. It is the 46th largest city in the country with a population of over 30 lakh.
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Best cities in India to start a business; Delhi, Patna top
Ahmedabad
Rank: 14
Number of procedures required: 13
Time: 35 days
Ahmedabad is the largest supplier of denim and one of the largest exporters of gemstones and jewellery in India. It is also fast becoming an automobile hub with companies such as Tata Motors, Ford and Maruti Suzuki establishing plants near Ahmedabad.
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Best cities in India to start a business; Delhi, Patna top
Guwahati
Rank: 13
Number of procedures required: 13
Time: 38 days
Guwahati is the most important trade hub in the North Eastern Region. As a river port, the city has traditionally been an important administrative and trading centre.
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Best cities in India to start a business; Delhi, Patna top
Mumbai
Rank: 12
Number of procedures required: 13
Time: 30 days
Mumbai is the financial and commercial capital of the country. The city has the highest contribution to the country’s GDP and tax revenues.
Two biggest stock exchanges - Bombay Stock Exchange and National Stock Exchange - are located here. It is headquarters to country’s biggest business houses such as Reliance Industries, Larsen & Toubro, Tata Group, Godrej Group. Five of the Fortune 500 companies are based in Mumbai.
The key sectors contributing to the city's economy are: gems and jewellery, leather, IT and ITES, textiles, and entertainment.
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Best cities in India to start a business; Delhi, Patna top
Kolkata
Rank: 10
Number of procedures required: 13
Time: 36 days
Kolkata is the main commercial and financial hub of East and North-East India. The services sector in the city is well developed and employs 83.69 per cent of the workforce.
Many big companies have made Kolkata their headquarters including ITC Limited, Coal India, and Britannia Industries.
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Best cities in India to start a business; Delhi, Patna top
Chennai
Rank: 10
Number of procedures required: 13
Time: 34 days
Chennai is one of the top 10 fastest growing cities in the world, according to Forbes magazine. It is ranked fourth in hosting the maximum number of Fortune 500 companies in India.
Chennai is one of the biggest hub for automobile manufacturer in India and is base to about 30 per cent of the country’s automobile industry.
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Best cities in India to start a business; Delhi, Patna top
Gurgaon
Rank: 9
Number of procedures required: 12
Time: 33 days
Gurgaon was once a sleepy village that has transformed completely thanks to its proximity to New Delhi. The city has progressed at a breakneck speed and now has the third highest per capita income in India.
It is now a leading financial and industrial centre and continues to witness rapid urbanisation. Today, about 250 of the Fortune 500 companies have presence in Gurgaon.
Best cities in India to start a business; Delhi, Patna top
Indore
Rank: 8
Number of procedures required: 13
Time: 32 days
Bulk of trade in Indore is contributed by small- and medium-enterprises. Industries in Indore range from Automobile to Pharmaceutical and from Software to Retail and from Textile trading to Real estate.
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Best cities in India to start a business; Delhi, Patna top
Ludhiana
Rank: 7
Number of procedures required: 12
Time: 33 days
The riches are brought to the city mostly by small-scale industrial units, which produce industrial goods, machine parts, auto parts, household appliances, hosiery, apparel, and garments, according to Wikipedia. The city is also Asia's largest hub for bicycle manufacturing.
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Best cities in India to start a business; Delhi, Patna top
Noida
Rank: 6
Number of procedures required: 12
Time: 30 days
Due its proximity to new Delhi, the city has become a major hub for multinational IT firms. Most of Indian and MNC IT companies are present here including Sapient, IBM, AON Hewitt, Fujitsu, Adobe Systems, Ericsson, and Dell.
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Best cities in India to start a business; Delhi, Patna top
Bhubaneshwar
Rank: 5
Number of procedures required: 12
Time: 37 days
Though tourism is the major industry in Bhubaneshwar, the city has recently seen investment in telecommunications, information technology (IT) and higher education.
Associated Chambers of Commerce and Industry of India says that Bhubaneswar has the highest rate of employment growth among 17 Tier-II cities in India.
A report by global property consultant Cushman and Wakefield states that Bhubaneshwar is among the top ten emerging cities in the country.
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Best cities in India to start a business; Delhi, Patna top
Hyderabad
Rank: 4
Number of procedures required: 12
Time: 33 days
Hyderabad is one is the commercial capital of Andhra Pradesh and contributes the largest contributor to the state’s GDP, tax and other revenues.
The service industry remains dominant in the city, and 90 per cent of the workforce is engaged in this sector.
IT & ITES is one of the biggest sector and the city is home to more than 1,300 IT firms, including Microsoft, Google, IBM, and Yahoo.
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Best cities in India to start a business; Delhi, Patna top
Jaipur
Rank: 3
Number of procedures required: 12
Time: 31 days
The capital of Rajasthan is the centre for traditional as well as modern industries. It is famous for large exports of gold, diamond, and stone jewellery.
The RBI ranked Jaipur as the eleventh largest deposit centre.
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Best cities in India to start a business; Delhi, Patna top
Patna
Rank: 2
Number of procedures required: 11
Time: 37 days
Patna has long been a major agricultural centre that traditionally exported grain, sugarcane, and Patna rice. Things are, however, changing fast.
The economy of the city is spurred by growth in the FMCG industry and services sector. It is now the 21st fastest growing city in the world, and the fifth fastest growing city in India.
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Best cities in India to start a business; Delhi, Patna top
New Delhi
Rank: 1
Number of procedures required: 11
Time: 32 days
Delhi is the largest commercial centre in North India and has the highest per capita income in the country.
Being the capital of the country, many leading corporates have their presence here. Some of the companies with headquarters in Delhi include Bharti Airtel, Hero Group, and Maruti Suzuki.