India ranked 100th in ease of doing business

by Sophie Craig November 1, 2017, 0:24
India ranked 100th in ease of doing business

According to the World Bank Group's latest report 'Doing Business 2018, India has been amongst the world's top ten improvers worldwide and a leading regional reformer and India is the only large country this year to have achieved such a significant shift.

"India performs well in the areas of protecting minority investors, getting credit and getting electricity".

Commenting on the outcome of the report, Finance Minister Arun Jaitely said the report underlines that the government's actions are moving in the right direction.

"Today's result is a very clear signal from India to the rest of the world, not only is the country open and ready for business, it's now competing as a preferred place to do business", said Annette Dixon, the World Bank's vice president, South Asia Region. Sri Lanka is at 111, Maldives at 136 and Pakistan is at 147 in the ease of doing business report.

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"The country's corporate law and securities regulations have been recognised as highly advanced, placing India in fourth place in the global ranking on protecting minority investors", the World Bank said. We are reinforcing our economic turnaround by a vigorous and active implementation of the Economic Recovery and Growth Plan (ERGP) so businesses operating in Nigeria can thrive and be competitive globally.

Commenting on the World Bank's report, Chandrajit Banerjee, Director General, Confederation of Indian Industry (CII), said, "The huge improvement in ranking and score will immediately boost investor sentiments". "We jumped over 30 places in three years, and as Prime Minister Narendra Modi had said about setting a target to get among the top 50... It happened in specific areas and they take tough parameters for that ranking", he said. The International Monetary Fund expects the economy to grow 6.7% this year - slower than China, he said.

It has never been easier to do business in India.

India climbed 30 positions to rank 100th amongst 190 countries, in the "Ease of Doing Business" report by the World Bank. The cut-off date for implementing any reforms for the said study was June 1, while the GST was imposed on July 1. In some ways, that explains the reason why countries need to focus on the ease of doing business: A conducive environment for business attracts investments which, in turn, creates jobs. We've been trying to nudge state govts that all the construction permits should come online. He said the Narendra Modi government has failed India's economy by "sheer adhocism and inexperience". The specifics are equally impressive: On eight of the 10 indicators used for the ranking, India improved its score.


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