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India's rank up by 23 positions in ease of doing business

01
Nov '18
India
India’s position in the World Bank's Ease of Doing Business ranking has shot up by 23 spots to reach the 77th rank among 190 countries. The rise denotes a big step forward in the Indian Government's efforts to ease processes, project a business-friendly environment and attract foreign investment. India progressed 30 positions last year to reach the top 100.

India stood 142nd in the list when the present National Democratic Alliance (NDA) government came to power in 2014.

India has improved on six of the 10 parameters on starting and doing business, which includes ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency, according to the World Bank report.

India has registered huge improvement in six out of the 10 indicators and has moved closer to international best practices, the finance ministry said in a press release.

The biggest improvements have been in the indicators related to ‘construction permits’, in which India’s ranking improved by 129 points, and ‘trading across borders’, in which it rose by 66 points, the ministry said.

Areas where the country still needs to improve are starting of business, in which the country ranked 137, paying taxes and enforcement of contracts. (DS)

Fibre2Fashion News Desk – India


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