Economy Economic Survey 2020: India ranks third in terms of number of new firms created Updated : January 31, 2020 04:07 PM IST From about 70,000 new firms created in 2014, the number has grown by about 80 percent to about 1,24,000 new firms in 2018. However, the procedures for starting a business in India is far behind countries such as China and New Zealand. It takes an average of 18 days to start a business in India compared to half a day in New Zealand, and nine days in China. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.