Best States in India to Start a Business: A Comparative Analysis

India is no doubt the world's fastest-growing major economy, and it offers an opportunity for entrepreneurs and businesses that has never been seen before. With a burgeoning population, increasing income, and a pro-business government, India provides an unprecedented chance for people who want to start something on its own.

However, with 28 states and 8 union territories, choosing the right place is a difficult choice. Each state has its unique advantages, and this blog from CorpE.io will help navigate a comparative analysis of the top states to start business in India.

Whether you are an aspiring entrepreneur thinking of One Person Company Registration (OPC registration) or a well-established business looking to expand, this elaborate guide will come of great use in deciding what to do.

Why Start a Business in India?

India is more than a market; it's an entrepreneurial paradise. Here's why:

1. Expansive Market

India has more than 1.4 billion people, making it one of the largest consumer markets in the globe.

• Rapid Urbanization: There will be above 40% of India's population in urban cities by 2030, thus creating a further need for increased goods and services.
• Increasing Disposable Income: The middle class has a growth curve and is pegged to touch 580 million by 2025 to create more consumer expenditures.
  
  

2. Friendly Government Policies

Indian government has initiated several steps to aid businesses:

• Make in India: Boosts manufacturing and investment.
• Startup India: Allows tax exemptions, streamlined regulations, as well as access to funding.
• Ease of Doing Business: India has risen to the 63rd place in 2022 from 142nd position in 2014 in the Ease of Doing Business ranking by the World Bank.
  
  

3. Expanding Startup Ecosystem

• India is now the third-largest startup ecosystem in the world, and over 90,000 startups and more than 100 unicorns exist here.
• Cities such as Bengaluru, Delhi NCR, and Mumbai provide the best innovation hubs, plenty of networking, and funding options for their citizens.
  
  

4. Streamlined Business Processes

• Registration of a business, including OPC registration, has become easy and streamlined:
• Online portals provide easy and smooth filing and compliance.
• You can undergo an entire OPC registration process within one week.

Source: https://corpe.io/Best-states-india-start-business-comparative-analysis