A Review of Ease of Doing Business for New Age Entrepreneurs in India

Empowering people to become the master of their own destiny is one of the most powerful tools of economic growth and development. Thus, entrepreneurs are said to be the key drivers of the economic engine. Entrepreneurs innovate and create opportunity, jobs, wealth, and prosperity for many. According to an estimate, new age entrepreneurs account for 20% of gross job creation in the United States (Kauffman Foundation, 2015). In addition to job creation, new businesses bring economic dynamism by spurring innovation and injecting competition.The conducive environment that facilitates people to start their own business provides a big spark to the economic development. The factors that contribute to the success of entrepreneurs around the world include access to the human, financial, and professional resources along with host of encouraging government policies (Babson College Website, 2016). An efficient economy should ideally provide transparent and favourable regulatory environment for the creation and growth of business enterprises.

The present paper reviews important measures and policies undertaken by the Government of India under the realm of 'Ease of Doing Business'. These policies are reviewed in the backdrop of India's performance in the Doing Business Index, 2017.