NITI Aayog invites EoI for undertaking research on 'Cost of Doing Business in India'
NITI Aayog has invited expression of interest for undertaking research on 'Cost of Doing Business in India' (CoDB), as India faces strong competition from countries like Vietnam, China, and Indonesia, which offer lower operational costs in key sectors. In a notice, Niti Aayog said the cost of doing business is a pivotal factor influencing the competitiveness of an economy, encompassing the expenses businesses incur to establish, operate and expand.
«For a rapidly growing economy like India understanding these costs is essential to fostering a conducive business environment and attracting investment.
»Despite India's significant reforms to improve its business climate, it faces strong competition from countries like Vietnam, China, and Indonesia, which offer lower operational costs in key sectors," it said.
According to the notice, in the wake of the pandemic, shifts in global trade, investment, and supply chains, coupled with growing concerns about economic and supply chain security led to strategies like China+1, compelling countries like India to implement bold measures to attract foreign direct investment (FDI).
«A comprehensive analysis of CoDB, including factors such as labour, capital, land, utilities, and regulatory compliance, is crucial for assessing an economy's investment climate,» NITI Aayog said.
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By — Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI
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