ISLAMABAD, Sept 15: Doing business in India is much tougher than in Pakistan, China, Sri Lanka and Nepal and the country is positioned way down at 116th in the Ease of Doing Business Ranking of 155 countries surveyed by World Bank and International Finance Corporation (IFC), reports Asia Pulse.

Pakistan is ranked at 60th, Bangladesh at 65th, Sri Lanka at 75th and China at 91st in the list, it added.

New Zealand, the report said has emerged as the top most country in the ranking which implies that it is easiest to do business there. The report “Doing Business in 2006” released on Tuesday, said the largest emerging market economies — Brazil, India and Indonesia — have below-average ranks.

Both Brazil and Indonesia are ranked above India at 119th and 115th position respectively.

The ranking is based on 10 parameters — starting a business, dealing with licenses, hiring and firing workers, registering property, getting property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing business.

It took 11 procedures, 71 days and cost 61.7 per cent of capital income on an average for starting a business in India in January 2005, according to the report. —APP