Thoughts on economics and liberty

The uncertainties in doing business in India

Came across this piece by Jennifer Hewett in The Austarlian (Rocky road to becoming an economic powerhouse). Particularly illuminating was this story about an Indian who quit his business in England and returned to India seven years ago:

One Indian-born, English-raised executive says shutting down his business manufacturing top-end shoes in Britain and moving to India seven years ago on the ground of cost was the biggest mistake he has ever made. He has to constantly pay off a variety of people to ensure his business is not buried alive by surprise new taxes, changed customs rules or dubious labour charges. There is no prospect of appeal in a legal system, which is another bad joke.

"In England, you go to work to run a business and know more or less what to expect during a day," he says. "In India, you have no idea what can go wrong next."

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