Why Doing Business in India is Difficult

Introduction

• Metaphor: India as a golden bird trapped in poverty
• Key Issue: Business difficulties in India
• Need for Jobs: India needs 20 million new jobs annually but generates only 5 million

Challenges in Doing Business

General Insights

• Business demands significant investment of energy, money, and time
• Middle-class families often don't support entrepreneurial ventures
• Business and corruption are closely linked
• Various fears: crime, IT department, customs

Real Pain of a Job Creator

• Extensive and daily pitfalls
• Comparison to climbing Mount Everest
• Importance of optimizing business processes to reduce headaches

Role of Technology

• Sponsor Mention: Odoo as an all-in-one management software
• Benefits of using Odoo:
  • Document management and tracking
  • Online document signing
  • Cost efficiency to increase profits

Bureaucratic and Regulatory Hurdles

Time Constraints

• Slow licensing processes; e.g., FSSAI license takes 2 months in India vs. quicker processes in other countries
• Example: Starting a restaurant takes 6-9 months in India but only 1-2 months in Singapore

Corruption

• Widespread bribery and complexities in getting things done
• Policies and rules are outdated and complicated

Credit Periods

• Frequent issue of delayed payments
• MSMEs suffering due to pending payments

Labour and Talent Shortage

• High unemployment but lack of skilled workers

Social and Family Support

• Traditional mindset leans towards 9-5 jobs for security and safety
• Lack of encouragement for entrepreneurs from middle-class families

High Operating Costs

• Example: High rent for co-working spaces
• Challenging credit and survival stages for new businesses

Infrastructure Issues

• Electricity: Key for development but often unreliable
• Citing of demonetization impact as an example

Financial and Taxation Woes

• High taxation impacting middle-class and business owners
• Smaller tax rates in other countries leading to challenges in competition
• Returns and refunds policy disparities with countries like Dubai

Policy and Governance

• Over-regulation and fear among entrepreneurs
• Need for transparent governance and policy change

Need for Educational and Structural Changes

• Encourage risk-taking and entrepreneurial spirit
• Addressing bureaucratic inefficiencies from the ground level up

Inspirational Note

• Despite challenges, entrepreneurs in India remain hopeful
• Vision of a new, honest governance reducing corruption
• Belief in the younger generation bringing change
• Concluding with admiration for the daily hustle of Indian entrepreneurs