It takes as many as 46 days for a foreign company to set up business in India, which is faster than in countries like China and Brazil but far longer than the 7-14 days it takes in the U.S. and Britain, says a World Bank report.

Even among the BRIC (Brazil, Russia, India and China) nations, Russia has an edge as it takes just 31 days for starting foreign-owned business, said the Bank's Investing Across Borders (IAB) 2010 Report that covers 87 countries. It takes 166 days for foreign companies to set up shop in Brazil and 99 days in China. Similarly, India scores slightly better in terms of number of procedures (16) required for overseas firms to set up operations, compared to these two countries (China: 18, Brazil: 17). But that is more than 10 procedures in Russia and even less in some developed countries.

“It takes 16 procedures and 46 days to establish a foreign-owned limited liability company in India (Mumbai). This is slightly slower than the average for countries in South Asia. — PTI