The Government of Assam is committed to creating a business-friendly environment in the state and has taken several initiatives in this direction. The ‘Ease of Doing Business’ (EODB) ranking of states is a measure of the reform efforts undertaken by the government. In the latest rankings released by the Department of Industrial Policy and Promotion (DIPP), Assam has been ranked at the 27th position among the 36 states and UTs.
Assam’s Business Reforms
The Ease of Doing Business in Assam blog covers the state’s business reforms and how they make it easier to do business in Assam. The blog discusses the government’s commitment to improving the business environment and the progress that has been made so far. It also provides information on the benefits of doing business in Assam, such as the state’s favourable investment climate and infrastructure.
The Ease of Doing Business Index
The Ease of Doing Business Index ranks countries based on their business regulations and the time and cost to start and operate a business. The Index is used by policy makers, researchers, and the private sector to assess how well economies are performing in terms of regulatory environment and business startup procedures.
In 2019, Assam was ranked at 134 out of 190 economies on the Ease of Doing Business Index. The state has made significant improvements in recent years, with the most notable being the introduction of an online single window clearance system for investment approvals. However, there are still some areas where Assam needs to improve, such as streamlining business registration procedures and making it easier to obtain construction permits.
The Ease of Doing Business Index is an important tool for measuring a economy’s competitiveness and attractiveness to investors. By continuing to improve its business environment, Assam can attract more investment and create more jobs for its citizens.
Why is Assam a Good Place to Do Business?
Assam is a good place to do business for a number of reasons. The state offers a variety of incentives for businesses, including tax breaks and subsidies. Additionally, the cost of living and doing business in Assam is relatively low when compared to other states in India.
The government of Assam is also supportive of businesses and entrepreneurship. There are a number of programs and initiatives in place to help businesses get started and grow. Additionally, the state has a well-developed infrastructure, which makes it easier for businesses to operate.
In general, Assam is a good place to do business because it is affordable, the government is supportive, and the infrastructure is developed. These factors make it an attractive option for entrepreneurs and businesses looking to expand their operations.
What are the Risks of Doing Business in Assam?
Doing business in any new region comes with a certain amount of risk. When expanding into Assam, there are a few key risks businesses should be aware of:
1. Lack of Infrastructure: One of the biggest risks when doing business in Assam is the lack of infrastructure. This includes things like roads, bridges, and power plants. While the government is investing in improving infrastructure, it will take time for these projects to be completed. This can make doing business in Assam difficult and expensive.
2. Corruption: Another risk associated with doing business in Assam is corruption. This is a problem that plagues many businesses in India. In Assam, there have been cases of government officials demanding bribes in order to approve permits or contracts. This can make it very difficult for businesses to operate honestly and can lead to increased costs.
3.Violence: Unfortunately, violence is also a risk when doing business in Assam. There have been instances of political unrest and ethnic violence in the region. This can make it dangerous for businesses to operate and can lead to disruptions in supply chains.
Despite these risks, there are many opportunities for businesses that are willing to invest in Assam. The state has a large population, a growing economy, and a rich culture. With the right planning and preparation, businesses can succeed in Assam.
How to Start a Business in Assam
Starting a business in Assam is not as difficult as it may seem. With the right preparation and knowledge, anyone can start a business in this state. Here are some tips to get you started:
1. Know the market. Assam is a growing market with a lot of potential. Before starting your business, research the market and find out what products or services are in demand. This will help you determine what type of business to start.
2. Choose the right location. When choosing a location for your business, consider the needs of your target market. If you are selling products, choose a location that is convenient for your customers to access. If you are providing services, choose a location that is close to your target market.
3. Get the necessary licenses and permits. Before you can start operating your business, you need to obtain the necessary licenses and permits from the government. Make sure you complete all the requirements before starting your business.
4. Register your company. Once you have all the required licenses and permits, you can then register your company with the Registrar of Companies in Assam. This will give your business legal recognition and protection under the law.
5. Hire competent staff. One of the most important aspects of starting a business is hiring competent staff. Make sure you hire employees who are skilled and knowledgeable in the field you are entering.
Following these tips will help you start a successful business in Assam.
Conclusion
The Assam government has made substantial progress in improving the ease of doing business in the state. The Business Facilitation Act, 2016 has been instrumental in simplifying various procedures and making it easier for businesses to operate in Assam. The government is also working on setting up a single window clearance system to further improve the business environment in the state. With these initiatives, Assam is well on its way to becoming a preferred destination for businesses and investors.
