Regulatory Cost Weighs on India's CEOs as Modi Fights Corruption
- Compliance biggest challenge, according to top 100 executives
- Scrutiny clashes with India’s ease-of-doing-business ranking
Narendra Modi is aiming to take India into the top 50 countries in terms of ease of doing business.
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Companies operating in India see regulatory compliance as the biggest cost overrun in the next two years, a sign that Prime Minster Narendra Modi’s efforts to curb corruption may be clashing with his plans to improve ease of doing business in Asia’s third-largest economy.
Compliance and regulatory scrutiny ranked as the biggest challenge, up from fourth position two years ago, according to a survey conducted by law firm Baker McKenzie of India’s 100 top executives of mid- to large-sized companies. The survey, released on Tuesday as part of the firm’s Doing Business Globally India Week, was conducted during November and December last year.