PM Narendra Modi has set an ambitious deadline of December-end to implement as many business reforms as possible on the ground so that India could break into the top 50 of the World Bank Ease of Doing Business next year.
Addressing India Inc at ‘Reflections on Ease of Doing Business’ programme, PM claimed that within 4 years, there has been a 180-degree change in the country.
Modi said,“We are at the 77th rank from 142nd rank in ‘Ease of Doing Business’. It’s a record for the country.” India this year jumped 23 ranks to secure 77th rank at the elite index by making a slew of business-related reforms including Goods and Services Tax (GST) and Insolvency and Bankruptcy Code.
He added,“As per the analysis of Moody’s and World Economic Forum, India’s rank has either gone up or is in the process of rising. Now, our aim is to take India in the 5 trillion dollar club. To achieve this, we have to improve in all the sectors of the economy”
India was ranked 142nd among 190 nations when BJP government took office in 2014.”At that time, the country was battling perceptions of excess red-tape and policy paralysis.” Modi said.
The event was organised by the Department of Industrial Policy and Promotion. Industrialists like Anand Mahindra and top representatives from industry chambers CII, FICCI and Assocham reportedly attended the event.