World Bank has rated India among the top countries which has improved its ‘Ease of doing business’ by changing its policy towards business. China and India has made the top 10 list of governments that have done the most improvement in the past year in the the area of ease of doing business, the World Bank said Wednesday.
Last year India’s rank was 77th among 190 countries and Now India has seen a big improvement in the annual Ease of Doing Business report of the World Bank issued on Wednesday as it moved up 14 places to the 63rd spot in the rankings for 2020.
Last 5 year Ranking of India in Ease of Doing Business:
In 2015, Indian Prime Minister Narendra Modi and Govt of India had set target of bringing India into the top 50 bracket of Ease of doing business ranking by 2020. India had jumped 23 places in 2019 & 30 places in 2017 and managed to make into the club of the Top 100 nations. India’s ranking in the World Bank’s – Ease of Doing Business Index 2018, had made a giant leap of 30 positions – from 130th in 2016 to the 100th spot in 2017.
World Bank said in its report, “India made it easier to do business in four areas measured by Doing Business. Authorities in Mumbai and New Delhi made it easier to obtain construction permits by allowing the submission of labor inspector commencement and completion notifications through a single-window clearance system. Starting a business is less costly thanks to abolished filing fees for the SPICe company incorporation form, electronic memorandum of association and articles of association. Exporting and importing is also easier following the integration of several government agencies into an online system and the upgrading of port equipment and infrastructure. India’s achievements this year build on a sustained multi-year reform effort. Since 2003/04, India has implemented 48 reforms captured by Doing Business. The most improved business regulatory areas have been starting a business, dealing with construction permits and resolving insolvency.”
Ranking of Indian Cities in Ease of Doing Business in 2020 by World Bank:
- New Delhi