India Is Among Top-5 Countries For Ease of Starting New Business: Survey

New Delhi: India has been placed in the list of top five for starting a new Business, said a report by Global Consortium of over 500 researchers on Thursday.

According to the, among the low-income economies, India has come to the top position with different entrepreneurship profile conditions.

The Global Entrepreneurship Monitoring (GEM) 2021/2022 report presented at the Dubai Expo has gathered these figures based on the opinions of 2,000 participants belonging to 47 high, medium and low-income economies.

Notably, India's position is much better in this matter in the survey report.

In the survey, the Indian participants answered questions related to their entrepreneurial activity, attitude towards entrepreneurship and local entrepreneurship ecosystem. About 82 percent of the participants said that starting a business in India is easy. In this case, India has been ranked fourth globally.

On the other hand, about 83 percent of the participants believe that there are good opportunities to start a business in their area, placing India second globally.

In addition, 86 percent of the participants in India said that they have the skills and knowledge to start a business. This figure ranks fourth globally.

However, 54 percent of the respondents said they were not planning to start a new business in the next three years citing fear of failure. With this, India ranked second in the list of 47 destinations.

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