Corruption growing full time in India. If anyone wants to open a business in India, you have to go through the licence raj. There is no single window clearance. You will need to run from pillar to post to get clearance and the papers will not get cleared fast unless you bribe from lowest to highest govt people. The biggest issue with India now is too much Taxes - Direct and Indirect. The govt wants to tax foreign investors any how. They have changed the tax law for their profit. They have increased the cost of living by introducing service tax. Many business sector is in loss due to taxation. People in India are suffering from severe poverty, drought and health issues. India does not have infrastructure to take care of its growing population.
I pity all those investors who will lose their hard earned money by Investing in India.
May 16, 2012
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