Timothy Taylor, in his Teaching Company course, “America and the New Global Economy,” says that Mahatma Gandhi wanted farms and businesses to remain small so that there would be no exploitation. After Gandhi, the business climate remained unwelcoming with the “license raj”. Professor Taylor explains that the license raj meant businesses needed a plethora of licenses to start and function which retarded econmic development.
Curious about the current business climate, I went to the World Bank “Doing Business” site which ranks nations for their ease of doing business:
http://www.doingbusiness.org/EconomyRankings/?direction=Asc&sort=2
For example…
U.S. : 6 days to implement the procedures for starting a business.
India: 195 days to implement the procedures for starting a business.
Interesting.