Indian Industry Less Restrained By Red Tapism

New Delhi: Indian industry seems to feel less constrained by factors such as red tapism, cost of financing, shortage of skilled labour and lack of business orders when it comes to its growth, in comparison to other BRIC countries. While 37 per cent of Indian businesses consider red tape a major restraint for growth, 60 per cent in Brazil consider it the most vital factor. About 59 per cent of Russian businesses face problems due to red tape while expanding, followed by Poland at 55 per cent. However, businesses experiencing the least restraints from red tapism were from Singapore (16 per cent), Spain (17 per cent) and Sweden (19 per cent).