MUMBAI: A report analysing South Asia’s most business-friendly destinations has diminished the case Mumbai makes for itself as India’s commercial capital.
‘Doing Business in South Asia 2007’ – a report published by the International Finance Corporation, a World Bank entity – characterises Mumbai as the second-worst city in the region for operating businesses.
India, however, has emerged as the top reformer in South Asia, an endorsement of the country’s success in implementing regulations that are conducive to business.
Hyderabad takes top position as the entrepreneurial hotspot among Indian cities, while Kolkata is slotted at the bottom.
The study, also known as the World Competitiveness Report, was released last month. Devendra Fadnavis, BJP legislator, produced the report in the assembly while participating in a debate on the state budget.
Fadnavis pointed out that the state’s industrial growth rate has gone down from last year’s 9 per cent to 7.9 per cent, and its exports have slid by Rs80,000 crore.
