India now ranks 77th, jumping 23 places on World Bank’s ease of doing business rankings

Must Read

Jharkhand polls for 81 constituencies from November 30 to December 20; counting on 23rd December

Addressing a press meeting today, Chief Election Commissioner Sunil Arora has announced the poll dates for Jharkhand Legislative assembly....

Congress forms six-member committee of AICC to review situation of NRC in Assam

In a bid to review the condition of Assam state after the implementation of the NRC exercise, Congress party...

Shiv Sena elects Eknath Shinde as party’s legislative leader; Sunil Prabhu appointed as chief whip of party

In a striking breakthrough, Shiv Sena elected senior minister Eknath Shinde as the party's legislative leader today. It has...

India climbs up 23 places to rank 77th, from 100th spot last year, on the World Bank‘s ease of doing business (EODB) index, which features 190 countries.

The jump in rankings, gives a big boost to the Indian ecosystem, showcasing the progress and the commitment of the Indian government towards enabling better business opportunities in the country.

World Bank recognised India’s efforts as it figured in the list of “top 10 movers”, for the second time in a row. India came in at the 5th spot.

While ranking the countries, World Bank measures 11 areas of business regulations including, starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, and labour market regulations.

India showed improvements across 6 areas of business regulations, with the most significant improvements in construction permits and trading across borders. India is ranked at 54th position in the area of construction permits, marking a significant jump of 129 places, from the previous year.

The factors that have helped improve India’s rankings include the amendment of the insolvency law to strengthen access to credit, the introduction of GST, and the improvement of port infrastructures to reduce time and cost involved for exports and imports.

Furthermore, India is ranked also ranks among the top 25, across three indicators, getting electricity, getting credit and protecting minority investor. Across the indicators, India’s top rank is 7 for protecting minority investors.

The continued improvement in India’s rankings now places India at the top position, among South Asian countries.

Earlier this year in July, in a list prepared by the Department of Industrial Policy and Promotion (DIPP), along with the World Bank, Andhra Pradesh topped the ease of doing business rankings.

The continuous improvement of the Indian ecosystem is a testament to the positive changes in the Indian economy, as India moves towards a more prosperous tomorrow.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Govt invites bids for BPCL, Concor strategic sale

New Delhi, Nov 22 (IANS) Pacing up the disinvestment calendar to meet a daunting target by March 31, DIPAM...

No plans to stop manufacture of Vande Bharat rakes: Govt

New Delhi, Nov 22 (IANS) The government on Friday said that it has no plans to discontinue the manufacture of Vande Bharat Express rakes...

12-year-old dead as flying ‘cricket’ bat hits head

Alappuzha (Kerala), Nov 22 (IANS) Even as the state is yet to recover from the death of a young school girl following a snake...

Rohtang Tunnel to be opened in May next year: Rajnath

New Delhi, Nov 22 (IANS) The majestic Rohtang Tunnel beneath the Rohtang Pass in Himachal Pradesh will be opened to the traffic in May...

Oppo working on its proprietary chipset: Report

Beijing, Nov 22 (IANS) Taking a cue from smartphone makers like Huawei and Samsung who make their own processors, Chinese handset maker Oppo is...
- Advertisement -

More Articles Like This