The story of the economic success of India is now real, in part due to large work force which is trying to procure basic necessities for itself and secure future for its offspring. The success though facilitated in some measure by good POLICY making post 1992, is largely due to lack of it and is more from the pockets of excellence created by Indian corporate houses and the value in niches created in by the small private entrepreneur.
Today, as much as a small entrepreneur representing the supply side, would fly overseas to seek our business / opportunities / orders, the buyer representing the demand side too is wandering on the markets of India seeking goods and services. The latter trend is more recent and growing, due to recognition and realization that there is entrepreneurship, business acumen, a skill - set and faster turn - around in India.
India ranks 75 as per a study ranking countries on the ease of starting a new enterprise index. But not allowing a business to start is big business in India. For a business man time is money. He is not inclined to approach the market with an idea which has lost its novel appeal. There is a huge infrastructure that protracts his time of mind to market. They call it speed money. He gives this. It does not involve bribing a particular person. It entails monetary incentive to anyone in the chain related to facilitating the enterprise. But the enterprise flourishes despite this hindrance. It flourishes with this hindrance.
But clearly, it is good world class policy making that is happening in India. VAT, GST, IT policy and now the PMLA. Over time the culture will trickle down to the level of the block and taluka.
RTI, act passed in 2005 and effective 2005 in India is a very powerful tool, and the government is taking this very seriously. India has been very proactive in enacting this. In the UK, this act was passed in 1980, and in 1966 in the USA. As you can see, India is not far behind. Clearly, unlike infrastructure, where India is trailing the modern world by a century, in rights and legislation and democratic values, the country is pretty much in sync with the best.
May be... bribes are the 'Barrier to entry' nourished by incumbents to maintain their monopoly! Probably it was an excellent tool along with political association with Congress in license-raj days. Birla's and Bajaj exploited it to hilt.
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